Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 7 March 2023 12:07 pm

  Oil rises on supply concerns and hopes for increased Chinese demand

  

  Oil prices rose on Tuesday after industry executives cited concerns about a lack of spare capacity in the market and uncertainty about Russian supplies as demand recovers from China, the largest importer of crude. Brent crude futures were up 40 cents, or 0.5%, at $86.58 a barrel by 0154 GMT, …

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• 7 March 2023 3:51 am

  Market Drivers – US Session 06/03/2023

  

  It is typically a calm start to a busy week. Late on Monday, Wall Street pared gains to register a mixed close. As market investors wait for new direction from Fed Chair Jerome Powell, who will testify before the US Congress on Tuesday and Wednesday.The dollar likewise had a volatile …

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• 7 March 2023 2:50 am

  CAD/USD maintains its positive momentum ahead of the BoC and important events

  

  This week’s major events are anticipated to have an impact on the USD/CAD pair. For the day, the pair has moved between a low of 1.3581 and a high of 1.3628, increasing by 0.14%. At the time of writing, the price of the pair is 1.3609.It is going to be …

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• 7 March 2023 1:22 am

  RBA Preview: Central Bank’s Decision Could Yield One of Three Possibilities

  

  The Reserve Bank of Australia is about to issue its decision on interest rates, and economists are discussing their predictions for this event as well as the effects of every conceivable scenario on the price action of the AUD/USD pair.i) Hawkish +25 bps, likely by about 35%More interest rate rises …

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• 7 March 2023 12:00 am

  WTI holds on $80s as focus shifts away from China onto America

  

  WTI reversed some of its earlier losses and is now up for a fifth straight day as it approaches the $80s region. In the last three weeks, it achieved the highest closing price in the futures markets. Despite expectations for a slightly less robust recovery in China’s economy, the bulls …

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• 6 March 2023 10:55 pm

  Gold price declines below $1850 on higher Treasury yields

  

  Monday’s gold price decline is caused by rising US Treasury bond yields, which are up 0.49%. US factory orders decreased less than anticipated, but market players paid it little attention. At the time of writing, the price of the precious metal was 1846.62 per ounce, down from its previous closing …

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• 6 March 2023 8:04 pm

  GBP/USD retreats as bears eye 1.2000 below the 100-DMA

  

  The GBP/USD pair is testing the 100-day Exponential Moving Average at 1.2033. Traders are focusing on UK economic growth reading as well as Fed Chair Powell’s speech before the Congress, and US NFP figures. With the new trading week, the pair is trimming some of last Friday’s gains despite the …

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• 6 March 2023 7:20 pm

  Explainer: Real problem with Silvergate based on deposits

  

  If Silvergate Capital fails, it could be the first bank to be brought down by bad liabilities rather than bad assets. The bank warned in a filing last week that it might not be able to stay in business. The news pushed depositors to move their money elsewhere. Fears, under …

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• 6 March 2023 6:22 pm

  RBA Preview: Forecasts from 6 major banks

  

  These are the predictions made by the economists and analysts of 6 major banks on the impending central bank’s decision. The Reserve Bank of Australia (RBA) will issue its next monetary policy decision on Tuesday, March 7 at 03:30 GMT. In March, the RBA is expected to issue another rate …

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• 6 March 2023 5:16 pm

  Oil prices fell after expectations of modest growth in China

  

  Oil prices fell on Monday after China set a modest target for economic growth this year of about 5 percent, which is lower than market expectations, while investors cautiously await Federal Reserve Chairman Jerome Powell’s testimony before Congress this week. Brent crude futures were trading down $1.30, or 1.5%, at …

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• 6 March 2023 4:44 pm

  Eurozone Retail Sales decline 2.3% YoY in February vs. 1.9% expected

  

  According to official data issued by Eurostat on Monday, retail sales in the Eurozone increased by 0.3% MoM in February, compared to a 1.0% expectation and a -1.6% decline in January. Annualized Retail Sales for the bloc were down 2.3% in February compared to -2.8% in January and the consensus …

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• 6 March 2023 4:03 pm

  ECB’s Lane: More rate hikes will be needed after March

  

  The European Central Bank will have to continue raising interest rates after this month’s meeting, in the light of strong underlying inflation, the ECB’s chief economist Philip Lane said on Monday. “The current information on underlying inflation pressures suggests that it will be appropriate to raise rates further beyond our …

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• 6 March 2023 3:24 pm

  French government says has a deal on the anti-inflation shopping basket

  

  In order to assist consumers cope with the rise of food prices, French Finance Minister Bruno Le Maire announced on Monday that he had achieved an agreement with the major grocery chains in the nation. Le Maire said at a press conference following his meeting with retail executives that food …

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