Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 15 March 2023 3:06 pm

  ECB likely to stick to big rate hike despite banking turmoil

  

  Policymakers at the European Central Bank are leaning towards a half-point rate rise on Thursday, as the banking sector crisis subsides, the eurozone economy strengthens, and inflation is expected to remain too high for years. When the collapse of Silicon Valley Bank (SVB) in the United States sent vibrations across …

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• 15 March 2023 1:24 pm

  Energy Agency: Resuming China’s activities, air transport recovery increase oil demand

  

  The International Energy Agency said on Wednesday that global oil demand is rising slowly, but is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19. “Global oil demand growth started …

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• 15 March 2023 12:15 pm

  USD finds support as fears of a banking crisis subside

  

  The dollar found support in Asian markets on Wednesday, as investors cut their expectations about cutting interest rates in the United States after easing fears of a banking crisis and the release of data showing that inflation remains high. In early trading, the wave of selling the dollar, which lasted …

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• 15 March 2023 11:51 am

  Nikkei ends 3-day losing streak as banking stocks rise

  

  Japanese banking stocks closed higher on Wednesday, helping the Nikkei index end a three-day losing streak, as markets regained some calm after investor fears of spillovers from the Silicon Valley bank collapse subsided. The Tokyo Stock Exchange’s banking index rose 3.3 percent, led by shares of Suruga and Shimane Banks, …

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• 15 March 2023 11:36 am

  Gold prices fell as the dollar and bond yields rose

  

  Gold prices fell on Wednesday as the dollar and US bond yields rose as investors assessed the path of US interest rates after a consumer price report showed that inflation remains high. Gold fell in the spot market 0.1 percent to $ 1901.24 an ounce by 0052 GMT, after falling …

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• 15 March 2023 3:50 am

  Market Drivers – US Session 14/03/2023

  

  Despite rising Treasury rates and CPI on Tuesday, the US dollar was unable to recover. Wall Street recovered and ended its five-day losing streak. The dollar continued to decline on Tuesday, although it managed to stay above Monday’s lows while remaining weak. The Nasdaq increased by more than 2%, while …

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• 15 March 2023 3:04 am

  After SVB Collapse, Fed’s Bowman: America’s banking sector remains resilient

  

  In a statement published by Reuters late on Tuesday, Federal Reserve Governor Michelle Bowman dispelled rumours that the US banking industry would face difficulties in the wake of the Silicon Valley Bank (SVB) scandal.Fed’s Bowman noted that the banking sector has strong capital and liquidity and that the Fed board …

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• 15 March 2023 1:30 am

  WTI slides lower post CPI reading

  

  Following the US CPI inflation reading for February, which increased at an annualised 6% pace, in line with predictions and down from 6.4% in January, oil prices are falling in noon trading. Inflation in the United States remains far over Fed’s target, raising the possibility of a recession, particularly in …

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• 15 March 2023 12:49 am

  GBP/USD slides lower ahead of UK budget

  

  The GBP/USD pair was lower on Tuesday but hovers around a one-month high on the back of the trading day’s softer US dollar that was dented at the start of the week due to the market turmoil in the banking sector. At the time of writing, the GBP/USD pair is …

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• 14 March 2023 11:54 pm

  US stocks rebound following US inflation data

  

  Following a significant selloff over the previous few days, regional bank stocks rallied to conclude the US trading session. On Tuesday, bank stocks increased and Treasury yields increased as some traders expected that banking sector hardship may be minimised, allowing the Federal Reserve to concentrate on fighting inflation.Compared to Monday’s …

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• 14 March 2023 11:03 pm

  After CPI reading, Bitcoin price climbs past $25,000

  

  From 6.4% in February 2023, the Consumer Price Index decreased to 6.0% year over year. It is anticipated that following the next FOMC meeting, interest rates will rise by 25 basis points. The cryptocurrency market responded favourably to the inflation rate as the price of Bitcoin increased to trade at …

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• 14 March 2023 10:15 pm

  USD/CHF gains traction after CPI data

  

  USD/CHF is coming back to the downside after the latest CPI report, which jumped from 3.3% to 3.4% y/y. We can see an excellent turndown towards the lower support line. USD/CHF trims some of its Monday’s losses and shifts positively on Tuesday, gaining 0.47%. The USD/CHF is trading at 0.9151 …

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• 14 March 2023 9:10 pm

  Gold expected to lose momentum on hawkish stance

  

  Despite trading at 1909.07 at the time of writing, the precious metal jumped to the highest in over a month. Economists see the yellow metal trading above $1,925 in the latter months of this year. Ironically, higher rates now are good for gold later on as they would drive rates …

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