Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 28 March 2023 9:46 pm

  USD/CHF returns from weekly lows and is getting close to 0.9200

  

  In the North American session, the USD/CHF recovers from weekly lows of 0.9136 and advances towards challenging 0.9200. The USD/CHF exchange rate is currently trading above its initial price at 0.9199 after reaching a daily high of 0.9226.The USD/CHF pair tested the previous week’s low of 0.9118 earlier in the …

  Read More »
• 28 March 2023 7:28 pm

  NY Fed: Expected rent price increase for next year

  

  In a report published on Tuesday, the Federal Reserve Bank of New York said that the expected rent price increase for next year was at 8.2%, down from 11.5% last year.The news headline doesn’t seem to be impacting the US Dollar’s performance against its rivals. At the time of press, …

  Read More »
• 28 March 2023 6:36 pm

  UK Labour urges more partnership with EU, cautious on China

  

  While the UK Labour Party prepares for a closer connection with the EU if it wins the next election, Prime Minister Rishi Sunak asserts that the UK economy “will return to growth” and applauds the measures in the chancellor’s budget “that will help” to accomplish this. David Lammy, the opposition …

  Read More »
• 28 March 2023 5:18 pm

  GBP edges up as BoE says no tension in UK banking system

  

  Sterling hovered around a two-month high on Tuesday as the Bank of England (BoE) said Britain was not experiencing stress linked to the demise of Silicon Valley Bank (SVB) and Credit Suisse. BoE Governor Andrew Bailey told parliament’s Treasury Committee in a hearing on SVB: “I don’t think that any, …

  Read More »
• 28 March 2023 4:15 pm

  Futures edge lower as yields rise amid easing bank contagion fears

  

  U.S. stock index futures slipped on Tuesday as Treasury yields rose amid easing worries about a banking crisis following First Citizens BancShares’ U.S. regulator-backed deal for failed Silicon Valley Bank. Benchmark 10-year yields rose to 3.545%, weighing on growth stocks such as Apple Inc, Meta Platforms and Alphabet Inc in …

  Read More »
• 28 March 2023 1:15 pm

  European stocks continue to recover as banking concerns ease

  

  European stocks rose on Tuesday as investors’ hopes of containing the banking crisis revived after a deal to take over the deposits and loans of the collapsed US bank Silicon Valley. The European Stoxx 600 index rose 0.7 percent by 0708 GMT, continuing the rise for the second day in …

  Read More »
• 28 March 2023 12:26 pm

  Japanese stocks closed higher, supported by banking stocks

  

  Japanese stocks ended Tuesday’s trading higher, supported by the rise of bank stocks, following the easing of concerns about the global financial system after a deal in which First Citizens Bankers would acquire the assets of the collapsed US Silicon Valley Bank. The Nikkei index rose 0.15 percent to close …

  Read More »