Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2023

• 2 March 2023 11:07 pm

  Gold at crossroads ahead of US Services PMI

  

  Gold price breaks out of descending parallel channel as market mood improves. US Dollar selloffs are halted by rising US Treasury bond yields. ISM Services PMI release is still awaited by investors to gain fresh impulse on the direction of the Gold Index XAU/USD. Gold price opened the year at …

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• 2 March 2023 9:20 pm

  Fed’s Collins: More rate hikes are required to curb inflation

  

  Federal Reserve Bank of Boston President Susan Collins said on Thursday that more rate hikes are required to bring inflation back in control. She added that the extent of interest rate hikes will be determined by incoming data.Collins’ comments were not surprising as she reiterated previous statements by Fed policymakers …

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• 2 March 2023 8:28 pm

  Macy’s profits surpass expectations

  

  During the holiday quarter, Macy’s reported a higher profit than was anticipated. The owner of a US department shop claimed that it is preparing for a more unpredictable year. Also, Macy’s wants to expand its luxury division and add more non-mall outlets. The business said it attracted holiday shoppers searching …

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• 2 March 2023 7:28 pm

  EUR/USD Comes Under Additional Pressure

  

  The EUR/USD pair is trading at 1.0596 at the time of writing. It is noteworthy that the pair has come under weighty pressure and now is breaching 1.0600. Extra losses look likely while below the 55-day SMA at 1.0713. the pair quickly faded the Wednesday’s uptick and returns to the …

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• 2 March 2023 6:13 pm

  Companies are profiting from inflation, forcing the ECB to face a harsh truth

  

  Policymakers from the European Central Bank confronted some harrowing realities this week while huddling in a retreat in a remote Arctic village: businesses are benefitting from rising inflation while workers and consumers bear the cost. The dominant macroeconomic narrative over the last nine months has been that the 20 nations …

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• 2 March 2023 5:18 pm

  Euro falls against Dollar after inflation data in the eurozone

  

  The euro fell against the dollar on Thursday, after data showed that inflation in the euro zone is not as high as investors feared, after readings published by countries in the region during the past days. Eurozone inflation fell to 8.5 percent in February from 8.6 percent a month earlier …

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• 2 March 2023 4:11 pm

  Gold is falling with the strength of USD

  

  Gold prices are heading on Thursday to end a series of gains achieved over three sessions, pressured by the rise in the dollar and the possibility of the Federal Reserve conducting more interest rate hikes, which clouded the expectations of the prices of the yellow metal. And by 1030 GMT, …

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• 2 March 2023 3:09 pm

  Eurozone Preliminary HICP inflation eases to 8.5% YoY in February

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) comes in a tad softer at 8.5% in February vs. January’s 8.6%, the latest data published by Eurostat showed on Thursday. The market expected the inflation gauge to ease to 8.2% in the reported period. The core HICP climbs to 5.6% YoY in February …

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• 2 March 2023 3:03 pm

  Turkey’s trade deficit rises 52.8% in February following the earthquakes

  

  Data from the Turkish Ministry of Trade showed today, Thursday, that the foreign trade deficit amounted to 12.9 billion dollars in February, an annual increase of 52.8%, which highlights the impact of the earthquakes that occurred last month on the trade balance. The data showed that exports fell 6.4% to …

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• 2 March 2023 1:29 pm

  European stocks decline at the open ahead of the announcement of inflation data

  

  European stocks fell at the open on Thursday, dragged down by declines in interest rate-sensitive travel and technology stocks, as investors were cautious ahead of today’s important inflation data. A Reuters poll revealed that inflation in the 20 countries using the euro was 8.2 percent in the 12 months to …

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• 2 March 2023 1:27 pm

  Japan’s Nikkei index closed higher as sentiment improved on Chinese data

  

  Japanese stocks ended flat on Thursday after a disappointing investor day for Tesla Inc and fears of a tighter US central bank monetary policy outweighed the yen’s decline. The Nikkei index gave up gains made earlier in the session to end the transactions at 27,498.87 points, although it has been …

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• 2 March 2023 11:51 am

  Gold is falling as investors are increasingly concerned about rising interest rates

  

  Gold prices fell on Thursday as the dollar rose as a fresh batch of global economic data reinforced investor concerns about interest rates remaining higher for longer than expected. By 0315 GMT, spot gold fell 0.2 percent to $1,833.57 an ounce, after reaching a one-week high on Wednesday. US gold …

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• 2 March 2023 5:31 am

  Market Drivers – US Session 01/03/2023

  

  The US Dollar retreated on Wednesday, though US yields jumped. Most European stock markets posted losses, and on Wall Street, US equities exhibited mixed performance.The AUD/USD pair recovered from monthly lows by holding around the 0.6700 support. NZD/USD reached its highest level in two weeks on Wednesday, reaching 0.6275, making …

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