Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 10 March 2023 8:42 pm

  US stocks nosedive post US jobs data

  

  US stocks nosedived on Friday morning after the key jobs report (NFP Data) came in warmer than expected and jitters over troubles at Silicon Valley Bank continued to weigh on markets.The S&P 500 declined by 0.9%, while the Dow Jones Industrial Average edged down 0.5%. Contracts with the technology-heavy Nasdaq …

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• 10 March 2023 7:42 pm

  USD Index retreats to 104.10 on mixed US NFP

  

  USD Index weakens further post US Payrolls data. The Dollar Index extends its deflation to 3-day lows near 104.60. US yields drop further in the wake of the US jobs report. The US economy created more jobs than initially estimated in February.The dollar now loses further ground and breaks below …

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• 10 March 2023 5:53 pm

  US Nonfarm Payrolls rise by 311,000 in February

  

  The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls rose by 311,000 in February. This reading came in much higher than the market expectation of 205,000 and followed January’s print of 504,000 (revised from 517,000). Further details of the jobs report showed …

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• 10 March 2023 4:20 pm

  Dow futures fall 100 pts; payrolls and banking sector in spotlight

  

  With the focus on the forthcoming employment data and the struggling banking sector, U.S. equities are expected to begin neutral Friday, recovering following the previous session’s selloff. At 12:00 GMT, the Dow Futures contract was down 100 points or 0.3%, the S&P 500 Futures contract was down 4 points or …

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• 10 March 2023 2:42 pm

  Oil prices are heading for a weekly decline of 5% amid fears of a US interest rate hike

  

  Oil fell for the fourth session on Friday, heading to record its largest weekly loss in five weeks, due to fears of further US interest rate hikes, which would hurt fuel demand. By 0852 GMT, Brent crude futures were down 41 cents, or 0.5 percent, at $81.18 a barrel. West …

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• 10 March 2023 1:19 pm

  European stocks sharply lower; banking sector hit hard

  

  European stock markets traded sharply lower Friday as nervousness ahead of the widely-watched U.S. jobs report and weakness in the banking sector overshadowed better-than-expected U.K. growth data. At 08:40 GMT, the DAX index in Germany traded 1.7% lower, the CAC 40 in France dipped 1.9% and the FTSE 100 in …

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• 10 March 2023 12:32 pm

  UK Manufacturing Production declines 0.4% MoM in January

  

  The latest UK industrial and manufacturing production figures issued by the Office for National Statistics (ONS) on Friday revealed a drop in industrial sector activity in January. Manufacturing production was -0.4% MoM in January, compared to -0.1% expected and 0% in December, while total industrial output was -0.3% MoM, compared …

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• 10 March 2023 12:13 pm

  Turkish lira recorded a record low against the dollar

  

  The Turkish lira, which is prone to sharp fluctuations before normal trading time, stabilized early on Friday after tumbling 4.25 percent to a record low of 19.80 against the dollar on Thursday evening. By 0439 GMT, the lira had settled at 18.9575 against the dollar, the same closing level on …

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• 10 March 2023 11:04 am

  Nikkei suffers the largest loss in 3 months

  

  On Friday, the Japanese Nikkei index suffered the largest loss in nearly three months, ending a series of gains that lasted for five sessions, under the weight of the decline in financial institutions shares, after a decision by the central bank to continue stimulus measures, which affected the expectations of …

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• 10 March 2023 10:20 am

  Gold rose before the US jobs data

  

  Gold prices rose on Friday as investors awaited the US non-farm payrolls data, which is expected to be released on Friday, to assess the possible path of interest rate hikes by the Federal Reserve (US central bank). By 0716 GMT, spot gold rose 0.1% to $1832.24 an ounce, and US …

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• 10 March 2023 2:54 am

  Market Drivers – US Session 09/03/2023

  

  During the American session, US yields decreased even more. US 2-year yields decreased to 4.95% and 10-year yields to 3.92%. The US Dollar suffered from the falling rates. The DXY dropped to 105.20 for the second day in a row. The retreat of the Greenback is still a correction from …

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• 10 March 2023 2:42 am

  GBP/USD steadily climbs ahead of the UK data, US NFP

  

  After a two-day recovery from its lowest levels since late November 2022, the GBP/USD pair now seesaws inside a choppy range. Buyers benefit from expectations of no UK recession and optimistic efforts to entice new stock market listings. Prior to the important US jobs report, the US dollar is weakened …

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• 10 March 2023 2:28 am

  Gold price higher ahead of NFP Data

  

  Both Friday’s Nonfarm Payrolls report and next week’s the US Consumer Price Index are in the focus of exceptional attention for traders and investors. Gold price is up about 0.9% from a low of $1,812.02, and it has since risen strongly to challenge $1,835.64 as the US dollar lost additional …

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