Close: London Session | Forex, Metals, Oil, Agriculture April 16, 2021



Frost bites | A sudden cold snap in France has ravaged crops from sugar beet to fruits and vineyards, leaving the nation s farmers reeling.


“Indian Rupee gained strength amid weakness in dollar and rise in risk appetite in the domestic markets,” said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas. The rise was mainly driven by higher market values, the favorable impact of a weaker U.S. dollar, and net inflows. less The trading week is ending today, and the themes of the week were a lower US dollar and higher US equities. It is mixed today against the majors, and the euro and Canadian dollar are among the firmer currencies, while the Antipodeans and sterling are softer.
While Treasury yields surprisingly dropped – probably due to fresh demand from Asia – the dollar shrugged off this move and responded to the data. The greenback finished mostly softer, even though the euro and Canadian dollar nursed small losses. They made a second attempt during the North American session amid a weakening dollar as an upbeat macro news flow pushed the price action up to 1.1984. Dollar weakness is also reflected in the WTI crude oil price, which rose to above $63.50 and shows no signs of backing off.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.09 per cent to 91.59. All in all, the US dollar seems to have an economic advantage, but falling yields and some hope for Europe balance the picture, .


Investors know that yields and gold move in an inverse relationship: when yields rise, gold falls, and vice versa. less Follow This story isn’t for the day trader looking to cash out with a 50-point move in silver based on what gold’s doing. In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. Gold prices are retesting support-turned-resistance in the 1760-76 area attempting to establish a bullish Double Bottom pattern at 1676.91. less Where is gold heading?
This story isn’t for the day trader looking to cash out with a 50-point move in silver based on what gold’s doing. Gold prices shot higher alongside bellwether S&P 500 futures as Treasury bond yields fell, in a move that appears to reflect ebbing Fed tightening speculation. The GoldSwitzerland Division was created to facilitate the buying and storage of physical gold and silver for private investors, companies, trusts and pension funds.
Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools. Yet on a daily basis, there’s nothing spectacular about these sort of silver moves that come in lockstep with gold. Gold moved right to its target level that seemed to be the max that it could reach, but that didn’t seem to be the most likely outcome.


If you check the history of gasoline prices at the U.S. Energy Information Administration’s (EIA) website you can see that gasoline prices almost always rise between January and May. less Image Source: Unsplash Although it wasn’t strongly emphasized in the recent discussions on the rise in gasoline prices, those prices to rise nearly every spring. I have worked in the areas of oil refining, natural gas production, synthetic fuels, ethanol production, butanol production, and various biomass to energy projects.
less Oil prices broke out of their month-long trading range to the upside as we expected it would and now it has to complete the process. PayPal On the Bloomberg Terminal Fizzling out | Palm oil prices may pull back over the next two to five months before staging another advance, according to Bloomberg Intelligence. These tighter financial conditions appear manageable for now against the economic boost generated by elevated trade and oil prices.
It helps that China is completing its process by processing a whopping 14.14 million barrels of oil a day in March, almost 20% more than a year earlier.
I have over 20 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries, and hold several patents related to my work. Crude oil is trading higher for the fifth consecutive session. Image Source: Pixabay We were bullish before bullish was cool in oil and products and we hope that users took our advice and got hedged for the upside move.

United States

Bitcoin has more than doubled in value this year, and Coinbase Global Inc., one of the biggest U.S. crypto companies, went public on the Nasdaq Stock Market this week. One story with a mention from the FinTwit community this week relates to a particular company listed on the US stock market that reached a $100 million valuation. The US market ended at a record high overnight as economic data exceeded expectations and prospects of corporate earnings recovery improved, as per analysts.
Investors are getting scared off special-purpose acquisition companies, one of the hottest bets on Wall Street, as regulators intensify scrutiny of SPACs and share prices tumble. The stock market received support from a decline of the US 10-year government bonds yield below 1.6% for the first time from the end of March. less Just as U.S. stocks hit a new high this week, we had the debut of the cryptocurrency exchange (Nasdaq: COIN). Global Advisory Board October 2020 Blog The lack of market reaction suggests that many investors are not convinced that the Fed’s new guidance represents any material shift in policy.
I do believe that it was this effort that led to him being promoted to NASDAQ chairman.The experience gave me tremendous insight into the exchange world and market making. The S&P 500 and Nasdaq also rose to reverse declines from a day earlier, with tech stocks leading both indexes higher by more than 1%. The US retail sales increased by 9.8% in March compared to the previous month, according to the information provided by the Commerce Department.


Merkel s CDU/CSU bloc may today decide on its candidate to contest September s German election. Despite Brexit, investors are looking for new opportunities and the promise of a faster reopening of the UK economy. The EU is contemplating proposing a version of them as early as this spring, a step that prompted Kerry s rejoinder. French President Emmanuel Macron hosts Ukraine s President Volodymyr Zelenskiy in Paris, where they ll discuss tensions with Russia in a call with Merkel.
Probable political effervescence around the EU Recovery Fund.