Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 6 March 2023 8:04 pm

  GBP/USD retreats as bears eye 1.2000 below the 100-DMA

  

  The GBP/USD pair is testing the 100-day Exponential Moving Average at 1.2033. Traders are focusing on UK economic growth reading as well as Fed Chair Powell’s speech before the Congress, and US NFP figures. With the new trading week, the pair is trimming some of last Friday’s gains despite the …

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• 6 March 2023 7:20 pm

  Explainer: Real problem with Silvergate based on deposits

  

  If Silvergate Capital fails, it could be the first bank to be brought down by bad liabilities rather than bad assets. The bank warned in a filing last week that it might not be able to stay in business. The news pushed depositors to move their money elsewhere. Fears, under …

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• 6 March 2023 6:22 pm

  RBA Preview: Forecasts from 6 major banks

  

  These are the predictions made by the economists and analysts of 6 major banks on the impending central bank’s decision. The Reserve Bank of Australia (RBA) will issue its next monetary policy decision on Tuesday, March 7 at 03:30 GMT. In March, the RBA is expected to issue another rate …

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• 6 March 2023 5:16 pm

  Oil prices fell after expectations of modest growth in China

  

  Oil prices fell on Monday after China set a modest target for economic growth this year of about 5 percent, which is lower than market expectations, while investors cautiously await Federal Reserve Chairman Jerome Powell’s testimony before Congress this week. Brent crude futures were trading down $1.30, or 1.5%, at …

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• 6 March 2023 4:44 pm

  Eurozone Retail Sales decline 2.3% YoY in February vs. 1.9% expected

  

  According to official data issued by Eurostat on Monday, retail sales in the Eurozone increased by 0.3% MoM in February, compared to a 1.0% expectation and a -1.6% decline in January. Annualized Retail Sales for the bloc were down 2.3% in February compared to -2.8% in January and the consensus …

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• 6 March 2023 4:03 pm

  ECB’s Lane: More rate hikes will be needed after March

  

  The European Central Bank will have to continue raising interest rates after this month’s meeting, in the light of strong underlying inflation, the ECB’s chief economist Philip Lane said on Monday. “The current information on underlying inflation pressures suggests that it will be appropriate to raise rates further beyond our …

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• 6 March 2023 3:24 pm

  French government says has a deal on the anti-inflation shopping basket

  

  In order to assist consumers cope with the rise of food prices, French Finance Minister Bruno Le Maire announced on Monday that he had achieved an agreement with the major grocery chains in the nation. Le Maire said at a press conference following his meeting with retail executives that food …

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• 6 March 2023 2:11 pm

  China’s Jan-Feb commerce probably shrank again

  

  A Reuters poll revealed on Monday that China likely once more exported and imported less in January and February than a year earlier, supporting authorities’ concerns that a weakening global economy might hinder domestic development. Exports are predicted to have decreased by 9.4% from a year earlier in January-February, which …

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• 6 March 2023 1:37 pm

  European stocks open higher, jumping shares of Telecom Italia

  

  European stocks started trading higher on Monday, and Telecom Italia shares jumped to the top of the European Stoxx 600 index, while mining stocks fell after China set a modest target for annual growth. The Stoxx 600 index was up 0.2% by 0807 GMT, after posting its best weekly performance …

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• 6 March 2023 12:04 pm

  Japan’s Nikkei index closed higher after hitting a 3-month high

  

  Japan’s Nikkei average rose more than 1 percent on Monday to a three-month high, retracing gains on Wall Street in the previous session, after Federal Reserve officials eased concerns about monetary tightening. Interest-sensitive technology stocks were the top gainers in Japan, as was Wall Street after Richmond Federal Reserve Bank …

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• 6 March 2023 11:31 am

  Dollar is falling and the market is awaiting the testimony from Fed Chairman

  

  The dollar fell broadly on Monday as investors await Federal Reserve Chairman Jerome Powell’s congressional testimony as well as the February jobs report, which will be released at the end of the week and is likely to influence the central bank’s interest rate decision. The dollar index, which measures the …

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• 6 March 2023 10:35 am

  Saudi Arabia raises the selling prices of Arab Light Oil to Asia for the second month in April

  

  Saudi Aramco said on Sunday evening that Saudi Arabia raised the selling price of its Arab Light crude oil to Asia for the second month in April to $2.50 a barrel, above the average price of Oman and Dubai crude. The price increase, which is 50 cents a barrel above …

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• 6 March 2023 10:17 am

  Price of gold declined due to the rise in dollar and concerns about increasing interest rates

  

  Gold prices fell on Monday as the dollar rose, with the release of a new set of data that reinforced fears that central banks around the world will continue to raise interest rates to contain inflation. GMT, after rising to its highest level since February 15 on Friday. US gold …

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