Agriculture
The Brazil harvest had been delayed due to late planting dates early due to dry weather…Harvest activities have increased but the harvest remains very slow overall. Livongo makes devices that allow healthcare providers to remotely monitor health metrics such as blood pressure, blood sugar, weight, even behavioral health. “- Wheat markets were higher last week as Wheat remains a weather market. In Brazil,Winter Corn crop progress is well behind normal and it has been dry in major growing areas.
Soybean Meal is under pressure on ideas of big production caused by the big rally in Soybean Oil. Chinese demand had been strong until recently and it looks like they need the Corn. – Soybeans (SOYB) were higher and Soybean Meal was about unchanged last week. The US does not have a lot of Soybeans in the country anymore as most producers have already sold. Prices inside China for Corn remain extremely high. Soybeans have been rallying with Corn and Soybean Oil.
Soybean Meal is under pressure on ideas of big production caused by the big rally in Soybean Oil. Chinese demand had been strong until recently and it looks like they need the Corn. – Soybeans (SOYB) were higher and Soybean Meal was about unchanged last week. The US does not have a lot of Soybeans in the country anymore as most producers have already sold. Prices inside China for Corn remain extremely high. Soybeans have been rallying with Corn and Soybean Oil.
Currencies
It’s a common theme across the board, with early Dollar weakness mostly lost and the US Dollar trying to make its way back. The dollar’s weakness, where the Dollar Index is falling for the seventh consecutive session, maybe helping to unpin commodity prices. The favourable context for the risk complex put the buck under extra pressure during early trade, dragging the US Dollar Index (DXY) to new multi-week lows in sub-91.00 levels. Since the fundamental reasons for the decline in the dollar index are unfathomable, there is no way to predict how active buyers will be today.
The above table shows correlation and sensitivity (beta) for a plethora of currencies vis-à-vis the dollar, sorted on beta (weekly % changes, data since 2018). Last week we saw a group effort to get the coin to 10 cents of a dollar. less Even as US yields edge higher, the dollar struggles. The dollar’s downturn came in the absence of new flow as risk appetite arose out of the blue.
It all came to a screeching halt that particular month when the entire global dollar system froze. Stablecoins are a type of digital coin backed by a commodity or traditional currency like the U.S. dollar.
The above table shows correlation and sensitivity (beta) for a plethora of currencies vis-à-vis the dollar, sorted on beta (weekly % changes, data since 2018). Last week we saw a group effort to get the coin to 10 cents of a dollar. less Even as US yields edge higher, the dollar struggles. The dollar’s downturn came in the absence of new flow as risk appetite arose out of the blue.
It all came to a screeching halt that particular month when the entire global dollar system froze. Stablecoins are a type of digital coin backed by a commodity or traditional currency like the U.S. dollar.
Metals
While the industry suffered falling steel prices in early 2020 due to the COVID-19 cessation of industrial activities, steel prices have rebounded. Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. Gold prices for the latest contract on MCX are trading down by 0.2% today at Rs 47,283 per 10 grams. As you know, gold struggled at the beginning of the year, falling under strong downward pressure created by the improving risk appetite and rising bond yields.
Gold prices in India slipped today amid softer global rates. Gold prices are trading down 0.4% at Rs 47,194 per 10 grams. Although gold is extended yesterday’s reversals, base metals and oil are higher, and the CRB Index is at its highest level in over a month. In the previous session, gold had hit a two-month high when it rose to Rs 47,850 per 10 grams. Gold prices edged higher. President Biden’s proposed spending to encourage the electrification of vehicles and reshaping America’s infrastructure is likely to benefit the steel industry over the next few years.
Gold prices in India slipped today amid softer global rates. Gold prices are trading down 0.4% at Rs 47,194 per 10 grams. Although gold is extended yesterday’s reversals, base metals and oil are higher, and the CRB Index is at its highest level in over a month. In the previous session, gold had hit a two-month high when it rose to Rs 47,850 per 10 grams. Gold prices edged higher. President Biden’s proposed spending to encourage the electrification of vehicles and reshaping America’s infrastructure is likely to benefit the steel industry over the next few years.
Oil
It could reduce oil exports from Libya by 280,000 barrels per day – down to 1 million barrels per day, which triggered the rise of oil prices. less The global oil market has come a long way since oil prices plunged a year ago into negative territory. Libyan oil company National Oil Corp has announced force majeure for shipments from Hariga port. Crude oil is being pushed around by the idea of the reopening trade and the idea that economies around the world are going to be opening up rather quickly.
While all these developments are underway, the world’s biggest oil company and one of the biggest companies in the world is constantly understating their carbon emissions. Following the Coronavirus-induced collapse in oil prices during which the price briefly went negative the market has recovered. Daily Market Update identifies accurate price targets and turning points for indices, forex, cryptocurrencies, commodities, oil, gas, and stocks. Get the insights TRADING INSIGHTS Market Voice: Have crude oil prices peaked?
Oil prices jumped, supported by a disruption to Libyan exports and expectations of a drop in U.S. inventories.
Overall fuel oil loading activity was weak, with just one seaborne domestic transfer.
While all these developments are underway, the world’s biggest oil company and one of the biggest companies in the world is constantly understating their carbon emissions. Following the Coronavirus-induced collapse in oil prices during which the price briefly went negative the market has recovered. Daily Market Update identifies accurate price targets and turning points for indices, forex, cryptocurrencies, commodities, oil, gas, and stocks. Get the insights TRADING INSIGHTS Market Voice: Have crude oil prices peaked?
Oil prices jumped, supported by a disruption to Libyan exports and expectations of a drop in U.S. inventories.
Overall fuel oil loading activity was weak, with just one seaborne domestic transfer.
United States
As I explained earlier several times, the markets didn’t buy the Fed’s story of allowing inflation to rise substantially without hiking interest rates for several weeks or even months. The stock markets (such as the Nasdaq) had already reached new all-time highs when vaccines against the virus brought much-needed hope to the world. The US economy could see a strong recovery this year as consumers have $2 trillion in savings, higher than pre-pandemic levels.
US stock futures are trading higher today, indicating a positive opening for Wall Street indices. BEFORE THE BELL Wall Street futures slipped, as a spike in Treasury yields reignited inflation worries, while investors await earnings report from Netflix. It comes as no surprise, therefore, that the Fed sees the risky assets (i.e., equity markets) as centric to its decisions, especially during economic downturns. Yesterday Biden called on people to ‘Please, get the vaccine’ as all adults in the US are now made eligible to receive a Corona vaccine.
On Monday the S&P 500 closed at 4,163, down 22 points, the Dow closed at 34,078, down 123 points and the Nasdaq closed at 13,915, down 138 points. less The listing of Coinbase on the Nasdaq last week was a pivotal moment for cryptocurrencies. Rather, the Fed crammed money down the throats of commercial banks via QE policy although the banks have little demand for loans.
US stock futures are trading higher today, indicating a positive opening for Wall Street indices. BEFORE THE BELL Wall Street futures slipped, as a spike in Treasury yields reignited inflation worries, while investors await earnings report from Netflix. It comes as no surprise, therefore, that the Fed sees the risky assets (i.e., equity markets) as centric to its decisions, especially during economic downturns. Yesterday Biden called on people to ‘Please, get the vaccine’ as all adults in the US are now made eligible to receive a Corona vaccine.
On Monday the S&P 500 closed at 4,163, down 22 points, the Dow closed at 34,078, down 123 points and the Nasdaq closed at 13,915, down 138 points. less The listing of Coinbase on the Nasdaq last week was a pivotal moment for cryptocurrencies. Rather, the Fed crammed money down the throats of commercial banks via QE policy although the banks have little demand for loans.
China
Chinese President Xi Jinping called for more global economic integration and told the U.S. and its allies to avoid bossing others around.
Europe
Key takeaways from the auction preview that makes us positive on Danish Government Bonds: Denmark is approaching a fairly broad reopening and also a swifter reopening than EU/EEA peers. That makes demand and supply of loans a key gauge of the health of the region’s economy, and one closely followed by the ECB when setting its monetary policy. The ECB said businesses seem to be postponing investments, as the pandemic triggers fresh lockdowns and other restrictions in many parts of Europe.
EU Coal Laggard Faces Snags in Plan to Spinoff Dirty Assets Poland s plan to carve out coal-fired power plants sparked a rally in the country s biggest utilities. The rally could be down to the lifting of lockdown restrictions in the UK (April 12), as well as a trade deal approved with the EU (April 15). The rising count risks keeping exports subdued from the European Union s top pork producer, benefiting other sellers in the bloc and the Americas. In June, officials plan to propose changes to the various EU climate rules to update them for the new 55% target.
British musicians are already feeling the pinch from Brexit. Interest has been boosted by a step change in the EU’s green ambitions.
0 EU Coal Laggard Faces Snags in Plan to Spinoff Dirty Assets Poland s plan to carve out coal-fired power plants sparked a rally in the country s biggest utilities. The rally could be down to the lifting of lockdown restrictions in the UK (April 12), as well as a trade deal approved with the EU (April 15). The rising count risks keeping exports subdued from the European Union s top pork producer, benefiting other sellers in the bloc and the Americas. In June, officials plan to propose changes to the various EU climate rules to update them for the new 55% target.
British musicians are already feeling the pinch from Brexit. Interest has been boosted by a step change in the EU’s green ambitions.
