Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 17 March 2023 10:41 pm

  Bitcoin witnesses best week in five years

  

  At the time of writing, the price of one bitcoin is $26495. Bitcoin is on track for one of its largest weekly rises in recent memory, supported by bets on future interest rate reductions as the token weathers the financial sector’s turbulence.Since Monday, the biggest digital asset has increased by …

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• 17 March 2023 8:51 pm

  Crude oil modestly bounces from fresh 2023 lows

  

  WTI crude oil modestly bounced after posting a fresh 2023 low of $65.22 a barrel. West Texas Intermediate fell to $65.22 per barrel on Friday, its lowest since November 2022. It currently trades at around $67.30 a barrel, breaking lower amid financial turmoil weighing on the market mood. At the …

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• 17 March 2023 7:52 pm

  Gold has surpassed $1,960 for the first time since April 2022

  

  Gold is trading at $1959.26 at the time of writing. Earlier on the day, gold price surged further on Friday reaching the highest level in eleven months, rising above $1,960 per ounce. The Gold Index XAU/USD is rising by more than $40, adding to weekly gains.Risk aversion amid the banking …

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• 17 March 2023 5:33 pm

  US UoM Consumer Confidence Index drops to 63.4 in March

  

  Consumer sentiment in the US weakened in early March with the University of Michigan’s (UoM) Consumer Confidence Index declining to 63.4 from 67 in February. This reading came in worse than the market expectation of 67. “Year-ahead inflation expectations receded from 4.1% in February to 3.8%, the lowest reading since …

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• 17 March 2023 4:54 pm

  SVB Financial seeks bankruptcy protection for reorganization

  

  SVB Financial Group filed for a court-supervised restructuring under Chapter 11 bankruptcy protection on Friday to seek purchasers for its assets, only days after its former affiliate Silicon Valley Bank was taken over by US regulators. The decision to seek bankruptcy protection comes after the company announced on March 13 …

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• 17 March 2023 4:03 pm

  China cuts reserve requirement ratio by 25 basis points amid lacklustre rebound

  

  The Chinese central bank eased a key monetary policy instrument on Friday, attempting to boost an economy facing hurdles from a slowdown in its largest export markets. The People’s Bank of China announced a 25 basis point reduction in the reserve requirement ratio for major banks, which specifies how much …

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• 17 March 2023 3:04 pm

  The Kremlin: Russia decided to extend the grain agreement across the Black Sea by 60 days

  

  The Kremlin said on Friday that Russia had decided to extend the grain deal across the Black Sea for 60 days, echoing earlier statements by the Foreign Ministry. Ukraine stated that the agreement, which will expire soon, must be fully renewed under the current terms, which provide for an extension …

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• 17 March 2023 1:12 pm

  European stocks rose after the decline of investor concerns about the banking sector

  

  European stocks continued to recover for the second consecutive session on Friday, as measures taken by the United States and Europe to support banks calmed fears of an imminent collapse, but the European index was on track to record a decline for the second week in a row. The Stoxx …

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• 17 March 2023 12:13 pm

  Gold is heading for its best weekly performance since mid-November

  

  Gold prices rose on Friday, supported by the weakness of the dollar, and are preparing for the largest weekly gains since mid-November, as the global banking crisis prompted investors to turn to the metal, which is considered a safe haven. And by 0313 GMT, gold in instant transactions rose 0.5 …

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• 17 March 2023 10:47 am

  USD is falling as risk appetite improves

  

  The dollar fell on Friday as risk appetite improved after authorities and banks in key markets moved to ease pressure on the financial system, calming other major currencies that had fallen earlier in the week in the wake of banking turmoil. On Thursday, large US banks pumped $30 billion in …

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• 17 March 2023 10:16 am

  Oil rises 1% as investors reflect on the banking crisis

  

  Oil prices rose nearly 1 percent on Friday after a meeting between Saudi Arabia and Russia calmed markets amid expectations of strong demand in China, after a banking crisis led to heavy selling in global financial and oil markets this week. By 0400 GMT, Brent crude futures rose 81 cents …

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• 17 March 2023 4:50 am

  Market Drivers – US Session 16/03/2023

  

  Thursday witnessed a spike in stock market volatility. Indexes on Wall Street began the day in the red but ended the day up more than 1%. Nasdaq took the lead with a gain of 2.48%. Fears about systemic risk subsided, improving the market’s attitude. 11 of the biggest American banks …

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• 17 March 2023 2:46 am

  EUR/USD stabler on trimmed Fed-ECB policy gap

  

  While investors’ attention shifts to looming Fed policy decision, the EUR/USD pair is performing sideways over 1.0600. At the time of writing, the price of the pair is 1.0613. The ECB’s 50 bps increase in interest rates has reduced the gap between its own and the Fed’s policy stances. Following …

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