Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 11 March 2023 4:19 am

  Market Drivers – US Session 10/03/2023

  

  When traders boosted their long holdings in response to the recent dip, WTI oil regained ground around the $77 mark. The American crude closed Friday’s trading at $76.68 per barrel.Brent oil’s price increased and got close to $83 per barrel. If the right catalysts manifest, the momentum may still grow …

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• 11 March 2023 3:52 am

  EUR/USD benefits from NFP, Germany’s high inflation data

  

  The Euro gains from a weaker dollar following the NFP and high inflation figures in Germany. The EUR/USD pair concluded the week with modest gains after reaching a two-week high at 1.0700. As the Silicon Valley Bank in the US declared bankruptcy, the market’s mood turned negative due to the …

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• 11 March 2023 1:46 am

  BoC’s future rate hikes gets support by latest jobs data

  

  While the employment growth in February was not as significant as in January, it was still somewhat more than expected, which is another sign that the Canadian economy will start 2023 with more strength than previously predicted.The increase in jobs this month was less pronounced than in prior months, but …

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• 10 March 2023 11:41 pm

  GBP/USD climbs on weaker US dollar post key NFP data

  

  The GBP/USD pair rallied almost 1% on Friday, following the US NFP data. Bulls struggle at the 200-day EMA, exacerbating a GBP/USD fall of 60 pips to current rates. GBP/USD recovers some ground getting ready to finish the week with minimal gains after bouncing off YTD lows at 1.1802, with …

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• 10 March 2023 10:44 pm

  Italy expected to issue new retail bonds before summer

  

  Italy’s Treasury is preparing to launch new bonds dedicated to small savers in an effort to increase retail investors’ holdings of the country’s huge debt.Rome is trying to find new bond buyers for its over 2.760 trillion Euro ($2.92 trillion) debt – proportionally the second highest in the Eurozone – …

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• 10 March 2023 9:43 pm

  Gold rises following US NFP data

  

  The precious metal was able to extend its gains during the American trading session, and the price of gold headed higher, touching a high of $1,842.55 immediately after the announcement of the US non-farm payroll data on the daily chart, after the release of the US jobs report for February, …

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• 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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