Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 3 March 2022 10:35 am

  Fitch Downgrades Russia’s Sovereign Rating to Junk

  

  Ratings agency Fitch on Wednesday cut Russia’s sovereign rating six notches to junk, saying Western sanctions over its invasion of Ukraine had made Russia’s debt-servicing uncertainty and would weaken its economy in a “massive shock” to its creditworthiness. Russia’s financial markets have plunged into turmoil over its attack on Ukraine, …

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• 3 March 2022 10:15 am

  Moody’s Downgrades Russia’s Rating to B3

  

  Ratings agency Moody’s said Thursday that it has downgraded Russia’s long-term and unsecured credit rating to B3 from Baa3, attributing this to tough sanctions imposed by Western countries on Moscow. The agency added that the ratings are still under review for a further downgrade.

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• 3 March 2022 4:37 am

  Market Drivers – US Session – 2 March

  

  The most significant driver across financial markets on Wednesday was the testimony by Fed Chair Jerome Powell before Congress. Powell’s testimony will continue on Thursday with hints on determination to adopt QT and decide interest rate hilke in FOMC’s 16 March meeting. Economic DataPrivate employers hired more workers than expected …

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• 3 March 2022 4:23 am

  Jobless Claims, NFP Expectations As US Labour Market Gains Momentum

  

  Private employers hired more workers than expected in February and data for the prior month was revised sharply higher to show strong job gains instead of losses, aligning with other reports that have produced a positive picture of the US labour market.The ADP National Employment Report on Wednesday suggest that …

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• 3 March 2022 4:18 am

  Fed’s Logan: US Balance Sheet Reduction Likely When Markets Stabilize

  

  “We’ve certainly seen recent developments lead to notable volatility and declines in market liquidity,” Lorie K. Logan, an executive vice president with the New York Fed, said recently during a virtual event organized by New York University.“But so far, outside of Russian markets … our sense is that broader markets …

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• 3 March 2022 3:50 am

  US Shares Rebound On Back of Powell’s Comments

  

  US equities staged a decent rebound on Wednesday, with the S&P 500 breaking above last week’s highs to test 4400. Markets took reassurance from the tone of Fed Chair Powell’s remarks at his testimony before the US Congress.US equities rose on Wednesday as traders digested remarks from Fed Chair Jerome …

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• 3 March 2022 3:42 am

  WTI Rallies, Eyeing 2017 High Around USD 112

  

  US crude oil benchmark, WTI, rallies by 4.67% in the day, aiming to close above the USD 100 mark for the second day of the year as Wall Street closed, with US equities printing gains. The market sentiment is positive, though it would be subject to Ukraine-Russia tussles as it …

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• 3 March 2022 2:46 am

  Despite Surging Production, Russia Fails To Meet OPEC+Quota

  

  OPEC+ met on Wednesday and will not to break from its plan to add 400,000 bpd to quotas each month, largely as expected, despite soaring oil prices amid Russia’s invasion of Ukraine.Russia is estimated to have increased its crude oil production by 0.2 percent in February compared to January, but …

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• 3 March 2022 1:58 am

  BoE’s Cunliffe: Sanctions To Do Severe Damage to Russia’s economy

  

  Bank of England Deputy Governor for Financial Stability Jon Cunliffe said on Wednesday that sanctions will do severe damage to the Russian economy, but should not pose material risks to financial stability more broadly.Cunliffe said that heightened perceptions of geopolitical risk and its potential impact on growth and inflation can …

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• 3 March 2022 1:43 am

  ECB’s Centeno: Ukraine Conflict To Bring About Stagflation Scenario

  

  European Central Bank Governing Council member Mario Centeno said on Wednesday that the Russo-Ukraine war could lead to a stagflation scenario depending on the duration of the conflict and the European response.The exclusion of the Russian economic area via sanctions will have a devastating impact on Russia’s economy, Centeno added.Beyond …

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• 3 March 2022 12:27 am

  EUR/USD Hits Resistance As Markets Focus On Ukraine

  

  EUR/USD is stalling on its advance in later trade on Wall Street as the price moves into what would be expected to act as a resistance area on the hourly chart. At 1.1129, the price is trading near flat on the day after climbing from a low of 1.1057 to …

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• 3 March 2022 12:16 am

  Yellen Vows Tighter Sanctions Against Russia

  

  The United States is determined to continue to impose severe consequences on Putin and Russia over Ukraine war. US Treasury Secretary Janet Yellen said on Wednesday that the US will continue to impose severe consequences on Russian President Vladimir Putin and Russia over the invasion of Ukraine.Russia will increasingly become …

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• 2 March 2022 11:55 pm

  BoE’s Tenreyro: Oil Prices Spikes Increase Inflation, Dampen UK Economy

  

  Bank of England Monetary Policy Committee Member Silvana Tenreyro said on Wednesday that the latest rise in oil prices will increase inflation and dampen UK economic activity. The high level of companies wage expectations in the BoE’s latest Agents’ survey was a surprise, though we will have to see if …

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