Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 30 March 2023 3:21 am

  What can Q4, banking concerns bring about to gold’s rally?

  

  At the time of writing, the price of gold is $1964.27 per ounce, up +0.77 cents and +0.04% from Tuesday’s closing price. For the first time since Russia’s invasion of Ukraine, the price of the precious metal has now surpassed $2,000 per ounce. Gold prices have reached $2,000 per ounce …

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• 30 March 2023 1:31 am

  ECB’s Schnabel: Eurozone underlying inflation proving sticky

  

  According to Isabel Schnabel, ECB board member, the Eurozone’s underlying inflation is proving stubborn, increasing concerns that excruciatingly high price growth may become more enduring.Schnabel, on Wednesday, claimed that while a widening of corporate profit margins is also a primary cause of inflation, rapid nominal wage increases may be a …

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• 29 March 2023 11:36 pm

  Silver unable to break $23.50 mark

  

  The price of silver has been trading sideways after hitting a daily high of $23.39. The XAG/USD price analysis suggests that in the short term, it might test $24.00 once it reclaims $23.50; otherwise, it would consolidate. The silver price has consolidated for the fourth straight day after hitting a …

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• 29 March 2023 11:09 pm

  What To Expect From Hungary’s FM Talks With Russia’s Novak On Energy

  

  Hungary’s foreign minister Peter Szijjarto held telephone talks with Russian Deputy Prime Minister Alexander Novak about gas and oil shipments as well as nuclear co-operation. In a statement, Szijjarto said Novak had reassured him that despite international sanctions, the Russian party would be able to do maintenance work on the …

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• 29 March 2023 9:50 pm

  WTI fails to surge despite US inventory drop

  

  For the past week, the US Energy Information Administration (EIA) reports a drop in inventory. Imports of US crude oil fall to their lowest level since March 2021. WTI is trading at $73.203 per barrel at the time of writing. If it breaks above $75.00, it will start moving up …

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• 29 March 2023 9:13 pm

  BoC’s Gravelle: Ready to act under severe market-wide stress

  

  Bank of Canada’s Deputy Governor Toni Gravelle said on Wednesday that the BOC is ready to act in the case of severe market-wide stress and provide liquidity support to the financial system.The USD/CAD pair was last seen losing 0.15% on the day at 1.3580 and showed no reaction to these …

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• 29 March 2023 6:17 pm

  EUR/USD fluctuates around 1.0800.

  

  Earlier on Wednesday, the EUR/USD rose to the area of 1.0870. Despite increased US yields, the currency is still broadly purchased. Hawkish ECB language keeps the pair in the black. In spite of the greenback’s robust note on Wednesday, the EUR/USD currency pair maintains daily advances in the vicinity of …

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• 29 March 2023 3:27 pm

  European stocks rise with the support of the technology sector

  

  European stocks rose on Wednesday, tracking improved sentiment in Asian markets following plans to break up Chinese tech giant Alibaba Group, while Swiss bank UBS rose after it reappointed Sergio Ermotti as CEO. The Stoxx 600 index of European shares rose 0.6 percent by 0705 GMT, in line with gains …

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• 29 March 2023 1:50 pm

  Gold fell due to falling demand, as concerns about the banking crisis receded

  

  Gold prices fell on Wednesday as appetite for riskier assets increased following easing fears of a widening global banking crisis. Spot gold fell 0.6% to $1,961.80 an ounce by 0749 GMT, after rising 1% on Tuesday. US gold futures fell 0.5 percent to $1,963.10. However, he added that some investors …

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• 29 March 2023 12:23 pm

  German consumer sentiment set to improve in April

  

  GfK’s forward-looking consumer sentiment index for April rose to -29.5 from a revised -30.6 in March, coming in a touch below consensus expectations of -29.2. The headline expectations index fell to 3.7 from 6.0, while the income expectations index improved to -24.3 from -27.3. The propensity to buy index ticked …

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• 29 March 2023 12:08 pm

  Japanese Nikkei index closed at its highest level in nearly 3 weeks

  

  The Japanese Nikkei index closed at its highest level in nearly three weeks on Wednesday, as investors increased appetite for shares that are scheduled to be traded this week without the right to distribute profits, and the shares of the highly influential Soft Bank Group jumped in the market, supported …

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• 29 March 2023 11:15 am

  Oil achieves gains for the third day on supply concerns

  

  Oil prices rose for a third day in early Asian trade on Wednesday, as the suspension of some exports from Iraqi Kurdistan raised concerns about tight supply, and market sentiment improved as fears of a banking crisis subsided. Brent crude futures rose 42 cents, or 0.5 percent, to $79.07 a …

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• 29 March 2023 4:33 am

  Market Drivers – US Session 28/03/20

  

  Despite Wall Street’s losses on Tuesday, markets remained calm. When emphasis shifts to inflation statistics, banking concerns abate. Even though US rates increased, the US Dollar remained weak and dropped for the second straight day. Australia’s inflation data will be crucial on Wednesday before the next RBA meeting. The US …

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