Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 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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• 29 March 2023 4:16 am

  Gold closes higher following two sessions of declines

  

  Gold price was higher on Tuesday following two sessions of declines with support from a weaker US Dollar even as bond yields climbed.  Wall Street’s major indexes lost ground as investors grew concerned again that the Federal Reserve would keep interest rates higher for longer as fears of further banking …

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• 29 March 2023 2:20 am

  Stocks close lower as Wall Street regains stability

  

  While Wall Street regains some stability at the close of what has been a turbulent month, stocks were divided on Tuesday. The S&P 500 fell 6.26 points, or 0.2%, to 3,971.27 even though the vast majority of the index’s companies increased. The Nasdaq composite dropped 52.76, or 0.4%, to 11,716.08 …

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• 29 March 2023 12:51 am

  T-yields do not ease the pressure on the US dollar.

  

  The American dollar was not supported by surging Treasury yields. The EUR/USD shifted in the direction of 1.0850. The USD/JPY pair fell back when it encountered resistance near 131.50, while the AUD/USD rose again above the 0.6700 mark.Despite surging Treasury yields, the Dollar Index shows that the US dollar is …

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• 28 March 2023 11:08 pm

  WTI crude oil jumps beyond $73 on supply worries

  

  After a decision on an arbitrage between Kurdistan and Baghdad, supply risks stopped 450K barrels of shipments through Turkey. The benchmark prices of US crude oil are supported by a weak US dollar. Although WTI has a neutral to bearish trend, oscillators have recently turned positive, pointing to further potential.Due …

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