Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 2 March 2022 10:16 pm

  Treasury yields rose on Powell’s Rate Hike Hints

  

  The 10-year Treasury yield climbed above 1.8% Wednesday as Federal Reserve Chairman Jerome Powell offered an unusual degree of transparency for a Fed Chair, indicating that he endorses a quarter-percentage point increase when the central bank concludes its two-day policy meeting on March 16. Wednesday’s trading brought a respite to …

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• 2 March 2022 9:56 pm

  Canadian Dollar Leads G10 Gains As Rate Hike, Tightening Get Going

  

  The Canadian dollar strengthened against its US counterpart on Wednesday as oil prices surged and the Bank of Canada hiked interest rates as expected for the first time since October 2018 despite the crisis in Ukraine.Canada’s central bank hiked its key interest rate by 25 basis points to 0.50% to …

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• 2 March 2022 9:35 pm

  US Official: No change on the ground in Ukraine since Tuesday

  

  A US official said on Wednesday that the US assesses there have been no significant changes on the ground in Ukraine since Tuesday and that Russian force numbers in Ukraine have slightly increased, reported Reuters. There has been an increase in the Russian’s use of missiles and artillery target Kyiv, …

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• 2 March 2022 8:59 pm

  Russia: Ceasefire To Be Discussed In Talks With Ukraine

  

  A Russian negotiatorssaid on Wednesday that a potential ceasefire will be discussed in upcoming talks with the Ukrainian delegation, reported Russia’s Interfax.The Russian delegation is waiting for talks with their Ukrainian counterpart in a second round of negotiations.Satellite images showed a 40-mile-long Russian military convoy approaching Ukraine’s capital of Kyiv …

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• 2 March 2022 8:20 pm

  Lane: ECB Ready To Take Any Action To Ensure Price Stability

  

  European Central Bank Chief Economist Philip Lane said on Wednesday that the central bank stands ready to take whatever action is needed to fulfill its responsibilities to ensure that price stability and financial stability in the euro area is maintained, reported Reuters. Key Quotes:“The medium-term orientation allows for inevitable short-term …

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• 2 March 2022 7:42 pm

  Powell: Fed needs to move away from stimulative monetary policy

  

  US Federal Reserve Chair Jerome Powell, testifying before Congress on the first day of his semi-annual speech, said that it is time to move away from highly stimulative monetary policy settings.Monetary policy cannot address supply-side challenges and constraints, Powell added, stressing that “The US economy is very strong, the labor …

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• 2 March 2022 7:19 pm

  BoC Hikes Interest Rates To 0.50% As Expected

  

  The Bank of Canada lifted interest rates by 25bps to 0.50% as expected on Wednesday, adding that it expected it will need to raise interest rates further. The BoC said that it would continue with the reinvestment phase of its balance sheet, maintaining its overall holdings of Canadian government bonds …

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• 2 March 2022 6:18 pm

  Reuters: OPEC+ Agrees to Stick to Existing Plan to Raise Oil Output

  

  OPEC+ has agreed to stick to its existing output plan which entails 400K barrel per day hikes to oil output quotas each month in April, Reuters reported citing sources. The meeting of OPEC+ member nation oil ministers has now ended, Reuters reported. OPEC+ did not discuss increasing output quotas at …

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• 2 March 2022 5:43 pm

  US: Private Sector Employment Rises by 475K in February

  

  Employment in the US private sector rose by 475,000 in February, monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. That was well above economist forecasts for an employment gain of 378,000. Meanwhile, January’s estimate of employment change saw a substantial upgrade to show a …

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• 2 March 2022 5:42 pm

  Oil Rises as Supply Concerns Rise After Sanctions Against Russia

  

  Oil prices rose on Wednesday as fears of supply disruptions mounted in the wake of massive sanctions on Russia’s banks as fighting intensified in Ukraine, while traders scrambled to search for alternative oil sources in an already tight market. Brent crude futures rose more than $8 to touch a peak …

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• 2 March 2022 4:50 pm

  Palladium Continues to Rise as Concerns About Supply Grow, And Gold is Falling

  

  Palladium extended its rally for the third consecutive session on Wednesday after sanctions imposed on Russia over its invasion of Ukraine exacerbated supply concerns, while gold fell as US bond yields and the dollar rose. Palladium rose one percent, recording $2,604.61, after rising on Tuesday to its highest level since …

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• 2 March 2022 3:35 pm

  European Shares Fall For The Third Day as Oil Prices Rise

  

  European shares fell on Wednesday as commodity prices surged, fueling inflation fears when sanctions against Russia after its invasion of Ukraine took a toll on sentiment. The pan-European Stoxx 600 index was down 0.5%, declining for the third consecutive session. The European oil and gas index jumped 1.6 percent, supported …

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• 2 March 2022 2:39 pm

  Eurozone Preliminary Inflation Jumps to 5.8% YoY in February

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) jumps by 5.8% in February, coming in much higher than the previous reading of 5.1%, the latest data published by Eurostat showed on Wednesday. The consensus forecast was for a hotter reading of 5.4%. The core figures arrived at 2.7% YoY …

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