Close: London Session | Forex, Metals, Oil, Agriculture April 06, 2021



Since then, the bank has been touched by nearly every major financial blowup: Luckin Coffee, Wirecard, Greensill and now Archegos. Starbucks to End Disposable Cup Use in South Korea by 2025 It s the first such measure in a major market by the coffee giant.


When nominal yields retreat while inflation (and inflation expectations) keep rising, real rates decline, and that leads to dollar‘s decline. When nominal yields retreat while inflation (and inflation expectations) keep rising, real rates decline, and that leads to the dollar‘s decline. It has fallen around 8% from a year ago, after the pandemic fueled a rush into ultrasafe assets and the dollar surged against the euro and British pound. While higher chances of new expenditure may boost inflation, Federal Reserve rate hikes, and a stronger dollar, investors’ relief with lower taxes means a weaker greenback.
Although the dollar has edged higher year-to-date, some on Wall Street expect factors including trade deficits and China’s expansion to weigh on the currency this year. The dollar’s share of global reserves has decreased to its lowest level since 1995, according to International Monetary Fund figures on central banks’ foreign-exchange holdings released last week.
As I have written yesterday: (…) Throughout the markets, risk-on has been making a return as long-dated Treasury yields retreated, dollar fell and commodities continue their bullish flag formation. The euro pared all losses amid overall weakness in the US dollar after the release of the services PMI stateside. “Given the excess dollar liquidity in the market, as aggregate mining activity gains traction, we expect the metical to strengthen,” they said in a a note Tuesday.
Quoting my yesterday‘s dollar observations: (…) As I have tweeted on Thursday, it were the investment-grade corporate bonds that signalled the turnaround in yields spreading to TLT next.


>> Fabrice Drouin Ristori on Twitter is an independent investment analyst and studies the gold and silver market and their future role in the international monetary system. Gold is firmer, reaching its best level in almost two weeks, a little under $1739.Oil is recovering from its biggest drop in two weeks. However, a positive sign for gold bulls would be for a firm move above 50 to suggest that the outlook may be brightening up for the precious metal. He follows regularly since 1970 the gold, silver and foreign exchange markets.
Fabrice shares his thoughts on the economy, stock markets, geopolitics, gold and silver. He is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the gold market. He follows and analyzes the gold and silver markets since 2008. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the “pro aurum group”. As well he is publishing his bi-weekly comprehensive for his numerous international readers focusing on Gold, Silver, Mining, commodities and cryptocurrencies.
With that in mind, the main area to focus on is $1760-65, in which a move lower in US yields would be needed to help gold test this resistance.


less Crude oil prices rebounded slightly during Tuesday’s APAC session as traders shrugged off fears about rising Iranian crude oil exports ahead of a nuclear talk held in Vienna. The refiners – Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, and Mangalore Refinery and Petrochemicals Ltd – normally buy 14.8 million barrels of Saudi oil a month.” The oil market can handle more Iranian oil as demand is rising and inventories are tightening. Energy relations between India, the world’s third-biggest oil importer, and consumer, and Saudi Arabia have soured as global oil prices spiked.
The suit alleges the pipeline operator hit XTO with deficiency charges and revoked other credits after the oil producer shifted some oil to other outlets last August.
State-run refiners have placed orders to buy 9.5 million barrels of Saudi oil in May, compared with the previously planned 10.8 million barrels, three sources said. Some refiners also have plans to shut their plants for maintenance work, thereby lowering India’s oil requirements in the coming months, the people said.
New Delhi blames cuts by the Saudis and other oil producers for driving up crude prices as its economy tries to recover from the pandemic. With more than 25 years of experience, Stephen has a deep-seated knowledge of G10 and Asian currency markets as well as precious metal and oil markets. less Oil prices are recovering from Eater Monday’s huge selloff that was caused by reasons that were in some cases real and other cases imagined.

United States

Like Goldman Sachs, Nasdaq says its proposal is a matter of corporate governance and investor protection, citing research showing that board diversity leads to better corporate performance. Data on social and governance matters could be a growth area for Nasdaq, says Paul Gulberg, a senior analyst at Bloomberg Intelligence who follows the exchanges. Nasdaq has told investors that it expects its ESG data and consulting business to bring in $50 million in revenue by 2025, up from about $5 million last year.
The materials sector, which tends to be the most sensitive to global economic growth expectations, is gaining from the Fed’s dovish stance. Yet Nasdaq’s proposal has won support from big U.S. pension funds and companies that are seeking greater accountability and clearer data. Iran insists it can return to compliance with the nuclear deal only if the US backtracks and lifts those sanctions, while the Biden administration wants Iran to act first.
Currently S&P futures are trading at 4,057, down 0.27%, Dow futures are trading at 33,356, down 0.18% and Nasdaq 100 futures are trading at 13,545, down 0.30%. In March, the service sector in the US demonstrated the fastest growth on record as orders jumped to new heights. less The Nasdaq 100 has broken higher for the trading session on Monday, breaking above the 13,333 level, an area that has been important more than once. We use data from the New York Fed’s Consumer Credit Panel to construct a “head-to-head conflict” among different types of debt.


The PBOC didn’t immediately comment.Chinese banks advanced 4.9 trillion yuan of new loans in the first two months, 16% more than the same period last year, official data show. China urged Japan to steer clear of internal issues including Xinjiang as Prime Minister Yoshihide Suga prepares to meet Biden this month. LEARN MORE Published on April 5, 2021, 10:40 PM EDT Updated on April 6, 2021, 3:00 AM EDT The People’s Bank of China building in Beijing.


In late March, EU decided to curb vaccine exports for six weeks to prevent a larger net outflow of vaccines out of the bloc. On the other side of the planet, Australia becomes the first country to get a taste of EU’s vaccine export embargo. The export curb underscores massive shortfalls of the AstraZeneca shot across the EU bloc and complicates Australia’s inoculation campaign, which is already 83% behind its original schedule. Another EU official said that staff had recently been warned about potential phishing attempts.Western institutions have uncovered at least two serious cyber-attacks recently.
The viral resurgence in parts of the EU and a relatively slow vaccine campaign in the region further weighed on the energy demand outlook. The same person said the incident was bigger than the usual attacks that regularly hit the EU.