Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 21 March 2023 9:57 pm

  US bank stocks surge after Yellen’s support

  

  Regional lenders bounced back Tuesday following the remarks by Treasury Secretary, ‘it’s our intention to remain vigilant in the days and weeks to come’ Yellen said.Regional bank stocks rebounded Tuesday as Treasury Secretary Janet Yellen pledged further assistance to depositors if needed and a second attempted rescue of troubled San …

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• 21 March 2023 8:49 pm

  USD/CAD benefits from Tuesday’s stronger US Dollar

  

  The US dollar gains momentum as US yields surge ahead of FOMC decision. On the data front; Canada’s CPI rose 0.4% in February, core up 0.5%. The USD/CAD pair’s support lies at 1.3650 with no change. The USD/CAD pair bottomed at 1.3643 following the release of Canadian inflation data, the …

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• 21 March 2023 7:53 pm

  Gold retreats below $1950 on higher Treasury yields

  

  Gold price drops on risk-appetite improvement, and US Treasury bond yields are surging. The US Treasury bond yields rise, with 10-year TIPS, a proxy for real yields advancing above 1.30%.The Federal Reserve will commence its two-day monetary policy meeting, expected to deliver a 25-bps rate increase. Gold price is tumbling …

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• 21 March 2023 6:59 pm

  BoE Interest Rate Decision Preview

  

  In March, the Bank of England (BoE) is expected to continue raising interest rates, albeit more slowly as the globe fights off threats to the financial system. On Thursday at 12:00 GMT, the BoE will make its interest rate decision public. It’s not a “Super Thursday” because neither the governor’s …

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• 21 March 2023 5:46 pm

  Wall St set to open higher as bank fears ease, focus on Fed

  

  Wall Street’s main indexes were set to open higher on Tuesday as the rescue of Credit Suisse calmed nerves about a bigger banking crisis, while investors awaited the outcome of the Federal Reserve’s monetary policy meet. Traders now largely expect a 25-basis-point rate hike after the Fed’s two-day meeting concludes …

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• 21 March 2023 4:55 pm

  Inflation in Canada fell more than anticipated in February.

  

  According to Statistics Canada statistics released on Tuesday, Canada’s annual inflation rate decreased more than anticipated in February as lower gas prices and slower housing cost growth helped down the consumer price index to its lowest point since January 2022. Inflation fell from 5.9% in January to 5.2% in February, …

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• 21 March 2023 3:27 pm

  Oil increases as short-term banking jitters subside

  

  While the rescue of Credit Suisse allayed concerns about threats to the global banking sector that may hinder economic development and fuel demand, oil prices increased on Tuesday, continuing their rebound from a 15-month low recorded the previous day. In the aftermath of UBS’ acquisition of Credit Suisse and after …

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• 21 March 2023 2:37 pm

  German ZEW Economic Sentiment Index declines to 13.0 in March

  

  The German ZEW headline number showed that the Economic Sentiment Index worsened in March, arriving at 13.0 from 28.1 in January, missing the market expectation of 16.4. Meanwhile, the Current Situation Index came in at -46.5 from -45.1, worse than the market expectation of -45.8. During the same period, the Eurozone …

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• 21 March 2023 1:56 pm

  Dollar is taking a breather as all eyes turn to Fed meeting

  

  The dollar stabilized in Asian markets on Tuesday, but struggled to move away from its lowest levels in five weeks, as dealers believed that banking pressures would prevent the Federal Reserve from raising interest rates by a large amount, or perhaps not at all, at its meeting this week. The …

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• 21 March 2023 12:53 pm

  Gold prices are rising as investors focus on Fed meeting

  

  Gold prices rose on Tuesday as investors awaited the Federal Reserve’s meeting amid growing expectations that it will slow the pace of its monetary tightening in light of the banking sector’s turmoil. Spot gold rose 0.2 percent to $1,982.29 an ounce by 0546 GMT. US gold futures jumped 0.1 percent …

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• 21 March 2023 3:57 am

  Market Drivers – US Session 20/03/2023

  

  The currency market reacted to the uptick in market’s sentiment on Monday. The Fed’s meeting and banking industry developments will be the main influences on the upcoming sessions. On early Tuesday, the FOMC meeting gets started. The Fed is in a challenging situation. The market is pricing a 70% probability …

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• 21 March 2023 3:40 am

  WTI hovers around $67.60s after nosediving to fresh lows

  

  At the start of Tuesday’s Asian session, Western Texas Intermediate registers only slight losses. The current increase in WTI was a result of the weaker US Dollar and positive risk appetite.The outcome of monetary policy decisions by two significant central banks might drive down oil prices. The US benchmark crude …

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• 21 March 2023 3:15 am

  S&P Experts: Fed won’t abandon inflation battle on US bank collapses.

  

  On Tuesday, S&P analysts think it is doubtful that the failure of several US banks will prevent authorities from continuing their efforts to control inflation.The global rating agency also mentioned that the decision to write off Credit Suisse’s AT1 bonds may contribute to a higher cost of capital for banks.On …

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