Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2022

• 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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• 2 March 2022 2:00 pm

  Expectations of OPEC+ Commitment to Modest Production Increases

  

  Officials said that the OPEC + bloc will likely adhere to modest oil production increases when it meets on Wednesday, with Saudi Arabia and the United Arab Emirates, two of the largest members of the Organization of the Petroleum Exporting Countries, complying with the agreement with Russia, despite the expansion …

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• 2 March 2022 1:12 pm

  The Russian Central Suspends Moscow Stock Exchange

  

  The Central Bank of Russia decided not to resume trading on the Moscow Stock Exchange today, Wednesday, in the stock market sector, with a few exceptions. The Russian Central Bank said that the decision on trading tomorrow, March 3, will be taken before nine o’clock in the morning Moscow time …

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• 2 March 2022 12:12 pm

  Japan Shares Fall on Sentiment Affected by Sanctions on Russia

  

  Japanese stocks fell after a three-session rally to close lower on Wednesday, as growing concerns about the impact of Western sanctions imposed on Russia after its invasion of Ukraine prompted investors to shun risky assets and seek safe-havens. The Nikkei index fell 1.68 percent to close at 26,393.03 points, while …

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• 2 March 2022 11:29 am

  Russia’s oil production rises in February as sanctions paralyze trade

  

  Reuters calculations, based on a report by the Interfax news agency, showed that Russia’s production of oil and gas condensate rose in February to 11.06 million barrels per day, while trade in crude was hampered by the sanctions imposed due to developments in Ukraine. Production increased from 11 million barrels …

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