Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 31 March 2022 5:13 pm

  US annual Core PCE inflation rises to 5.4% in February

  

  Annual inflation in the US rose to 5.4% in February according to the latest Core PCE Price Index reading released by the US Bureau of Economic Analysis on Thursday. That was a tad below the expected reading of 5.5% YoY, but above January’s 5.2% reading. The MoM gain in prices …

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• 31 March 2022 4:37 pm

  US: Weekly Initial Jobless Claims rise to 202K

  

  Initial Jobless Claims in the week ending on 26 March came in at 202,000, a tad above the expected reading of 197,000 and up versus the previous week’s 188,000 print. Continued Jobless Claims fell to 1.307M in the week ending on March 19, below the expected rise to 1.35M from …

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• 31 March 2022 3:22 pm

  Moody’s withdraws all credit ratings of Russian entities

  

  Moody’s said it has withdrawn all credit ratings of Russia and designated Russian quasi-sovereign entities. The agency said it decided to withdraw the ratings for commercial reasons of its own. Last week, Moody’s announced its intention to withdraw its credit ratings for entities, following similar moves by global rating agency …

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• 31 March 2022 3:04 pm

  OPEC + Ministerial Monitoring Committee agreed to adhere to the production policy in May

  

  An OPEC + source said that the OPEC + Joint Ministerial Monitoring Committee agreed to adhere to the current oil production policy and increase production by 432,000 barrels per day as of May. according to reuters.

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• 31 March 2022 2:23 pm

  European shares recorded a slight increase and the oil sector fell

  

  European shares rose on Thursday, led by gains in automakers and defense sectors, while oil stocks tumbled, as a US plan to withdraw from strategic petroleum reserves sent crude prices down. The European index rose 0.2 percent, although oil stocks fell 1.5 percent. The FTSE 100 index in London rose …

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• 31 March 2022 1:22 pm

  Britain’s economy records faster-than-expected growth in the fourth quarter of 2021

  

  Britain’s economy grew more than expected in the last three months of 2021, when a wave of Omicron infections hit the country. The Office for National Statistics said gross domestic product in the world’s fifth-largest economy rose 1.3 percent in the fourth quarter of last year compared to the previous …

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• 31 March 2022 12:30 pm

  Nikki relegates and records the biggest quarterly loss in two years

  

  Japan’s Nikkei closed lower on Thursday, posting its worst quarterly performance in two years. The Nikkei closed down 0.73 percent to 27,821.43 points. The broader Topix index fell 1.08 percent to 1,946.40 points. On a quarterly basis, the Nikkei lost 3.37 percent, its biggest decline since the quarter ending in …

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• 31 March 2022 11:51 am

  Canada’s crude oil imports fall to their lowest level since 1988

  

  Data from Canada’s energy regulator showed on Wednesday that the country’s imports of crude oil in 2021 fell to their lowest level in more than three decades as domestic supplies increased. The data indicated that imports fell about 20 percent in 2021 to 473,000 barrels per day, from 579,000 barrels …

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• 31 March 2022 11:04 am

  Gold is on track to post its biggest quarterly gain since September 2020

  

  Gold fell in limited trading on Thursday, but the safe-haven metal is set for its biggest quarterly gain since September 2020, as the Russian-Ukrainian conflict made it more attractive. And gold fell in spot transactions 0.6 percent to $ 1921.55 an ounce by 0507 GMT. US gold futures fell 0.7 …

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• 31 March 2022 10:30 am

  Biden administration mulls largest-ever withdrawal from an oil reserve

  

  The Biden administration is considering releasing up to 180 million barrels of oil over several months from the Strategic Petroleum Reserve (SPR), four US sources said on Wednesday, as the White House tries to lower fuel prices. The announcement may come on Thursday, as the White House says Biden plans to …

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• 31 March 2022 3:53 am

  Market Drivers – US Session – 30 March

  

  Financial markets on Wednesday remained focused on the the continued weakening of the US dollar, where the DXY dropped a further 0.6% to the 97.80s, where it now probes mid-March lows more than 1.5% below earlier weekly highs. Economic DataPrivate sector employment in the US rose by 455,000 in March, …

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• 31 March 2022 3:34 am

  USD/JPY Steadies Ahead of the BOJ’s Bond-Buying Wrap-Up, Subdued US GDP

  

  The USD/JPY pair is hesitating in a narrow range of 121.32-122.24 as a broad-based buying in the Japanese yen is likely to over after the conclusion of the unlimited bond-buying program by the Bank of Japan. The four-day bond-buying program of the BOJ will conclude on Thursday. To curtail the …

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• 31 March 2022 3:02 am

  WTI gradually advances around $106.00 ahead of OPEC meeting

  

  WTI crude has advanced towards $106.40 but is likely to remain lackluster as investors are keeping eye on the outcome of the OPEC meeting, which is due on Thursday. The agenda of the OPEC meeting is likely to revolve around the elevation of the oil supply to contain the prohibited …

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