Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 18 March 2023 1:47 am

  Gold Approaching $2000 Threshold on Friday

  

  Gold price surged further to the upside during the US, breaking above $1,988.50 per ounce at the time of writing. Late on Friday, the Gold Index XAU/USD stands at the highest level since April 2022 and on its way to the third-highest weekly close on record.From the level it had …

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• 18 March 2023 1:34 am

  Dow loses 400 points on Friday as First Republic, other banks resume slide

  

  Due to continuing worries about the condition of the US banking sector, investors reduced their holdings of First Republic and other bank shares on Friday, causing a decline in US stocks.First Republic dropped by almost 33% to finish the week down by almost 72%. That represented a change from the …

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• 18 March 2023 12:07 am

  What do Friday’s Indexes Readings Tell About US Economy?

  

  Getting prepared for hard times seemed to be a popular theme among Americans. As bank woes hit the news headlines, clients have started to signal more urgent concerns. A lot of it is post-traumatic stress recalling the bad memories of the global financial crisis in 2008. But the numbers today, …

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• 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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