Agriculture
The last two (corn and soybeans) are the most concerning as the Fed’s own research shows that food inflation is the single best predictor of future inflation. Year to date, the price of copper, gasoline, corn and soybeans are all up double digits. The prices of things like copper, gasoline and corn are all spiking higher. Meanwhile, the U.S. expects China to buy a record amount of corn off global markets this year. Seed science | A soybean seed that can produce more oil than normal is in the works by one California startup.
Currencies
The dollar traded lower ahead of the U.S. Federal Reserve meeting next week, while gold prices rose. The US dollar lost ground across the board during the first two days of the trading week. The U.S. dollar was down ahead of the U.S. Federal Reserve meeting next week. For now however, there is a greater chance of gains than losses for the dollar this coming week with Q1 GDP and FOMC on the calendar. The dollar is under broad pressure to put the finishing touches on a poor week.
He is also Chairman of SchiffGold, his precious metals dealer, Euro Pacific Asset Management, and Euro Pacific Bank, his brokerage firm for international clients. The Australian dollar, sterling, and the euro lead today’s move. The most susceptible among those assets likely being other high-beta stocks and currencies, especially risk-sensitive ones such as the Australian Dollar and New Zealand Dollars. The euro area saw its recovery gain ground with services returned to growth in April and manufacturing expanding at a record pace.
For instance, suppose a trader buys futures that pay off if bitcoin rises against the U.S. dollar.
He is also Chairman of SchiffGold, his precious metals dealer, Euro Pacific Asset Management, and Euro Pacific Bank, his brokerage firm for international clients. The Australian dollar, sterling, and the euro lead today’s move. The most susceptible among those assets likely being other high-beta stocks and currencies, especially risk-sensitive ones such as the Australian Dollar and New Zealand Dollars. The euro area saw its recovery gain ground with services returned to growth in April and manufacturing expanding at a record pace.
For instance, suppose a trader buys futures that pay off if bitcoin rises against the U.S. dollar.
Metals
Green brews | Anheuser-Busch InBev will use solar power to brew Michelob Ultra Pure Gold beer in its latest effort to appeal to younger, more environmentally conscious consumers. On the one hand, gold’s strength dominated, pushing higher as digital assets consolidated at lower levels. BEFORE THE BELL Futures for Canada’s main stock index gained as gold prices rose on lower U.S.Treasury yields. Gold prices for the latest contract on MCX are trading up by 0.1% today at Rs 47,821 per 10 grams.
Gold is nearly flat as it tries to secure its third weekly advance.
Gold is nearly flat as it tries to secure its third weekly advance.
Oil
Oil prices are rising on Friday, but end the week with a decline amid mixed signals about near-term demand prospects. Oil is trading with a firmer bias but is still off a little more than 2% this week, paring last week’s 6.5% gain. These cities contribute to the bulk of gasoline and gasoil demand in India.” — With assistance by Chris Miller(Updates with Indian Oil processing rates in eighth paragraph.) “Oil prices have been fairly steady this week given the circumstances with a lot of factors pulling in different directions,” said Jens Pedersen, a senior analyst at Danske Bank.
On the other hand, oil found strong resistance above the $64 level and declined to the pivotal $60 area ahead of the OPEC meeting next week. Last week saw 231,000 tons of gasoline exported to the US all of which loaded out of the Netherlands. But the bulk of crude’s advance came in the first two months of the year, and prices have struggled since. Oil edged up on optimism over recovery of European economic growth.
The May 92 RON Gasoline contracts rose $0.62 at $71.64/bbl; 3Q ’21 was up $0.59 at $69.58/bbl and the 2H Cal ’21 contract increased $0.61 at $68.48/bbl. Since the beginning of this week, Brent has lost 1.4% ($65.82), WTI – 1.9% ($61.83).
On the other hand, oil found strong resistance above the $64 level and declined to the pivotal $60 area ahead of the OPEC meeting next week. Last week saw 231,000 tons of gasoline exported to the US all of which loaded out of the Netherlands. But the bulk of crude’s advance came in the first two months of the year, and prices have struggled since. Oil edged up on optimism over recovery of European economic growth.
The May 92 RON Gasoline contracts rose $0.62 at $71.64/bbl; 3Q ’21 was up $0.59 at $69.58/bbl and the 2H Cal ’21 contract increased $0.61 at $68.48/bbl. Since the beginning of this week, Brent has lost 1.4% ($65.82), WTI – 1.9% ($61.83).
United States
BEFORE THE BELL Wall Street futures were slightly higher, after the indexes ended lower in the previous session following President Biden s plan to double capital gains tax. Wall Street futures were slightly higher, after the indexes ended lower in the previous session following President Biden s plan to double capital gains tax. While stocks slumped on the Bloomberg News report yesterday, Wall Street is reacting relatively calmly to the plan, with many pointing to the likelihood of long negotiations.
Revenue in the much smaller Mobileye, programmable solutions and Internet of Things segments also came in higher than Wall Street’s estimates.
Next week there is a crowded economic and event calendar, with the latest Fed decision and the first look at US Q1 GDP the standouts. GBP/USD currently trades around 1.3875 and may look to push higher ahead of the US open and the US PMI release. Revenue, which Snap generates mainly from advertising, grew 66% to $770 million in the quarter ended March 31, beating Wall Street’s consensus estimate of $743 million. Q1 GDP growth should be hot so even if the Fed leaves their guidance unchanged, investors could position for earlier tightening.
less Image: Bigstock Wall Street witnessed a rally on Apr 21 after suffering for two consecutive days as the pandemic worsened. Recent US economic prints continue to beat expectations as the US economic pick-up gathers pace.
Revenue in the much smaller Mobileye, programmable solutions and Internet of Things segments also came in higher than Wall Street’s estimates.
Next week there is a crowded economic and event calendar, with the latest Fed decision and the first look at US Q1 GDP the standouts. GBP/USD currently trades around 1.3875 and may look to push higher ahead of the US open and the US PMI release. Revenue, which Snap generates mainly from advertising, grew 66% to $770 million in the quarter ended March 31, beating Wall Street’s consensus estimate of $743 million. Q1 GDP growth should be hot so even if the Fed leaves their guidance unchanged, investors could position for earlier tightening.
less Image: Bigstock Wall Street witnessed a rally on Apr 21 after suffering for two consecutive days as the pandemic worsened. Recent US economic prints continue to beat expectations as the US economic pick-up gathers pace.
China
The genocide accusation will likely fuel a movement to boycott the next winter Olympics in Beijing.
Europe
The matter was discussed on Wednesday at a meeting with EU diplomats, where most EU states supported the legal action, two diplomats told Reuters. AstraZeneca PLC: Launching legal action against AstraZeneca will not help the European Union secure vaccine doses more quickly, German Health Minister Jens Spahn said. One of the concerns, as one diplomat explained, is that a lawsuit wouldn’t guarantee that the EU got more doses. The EU Commission said Thursday that no decision has been made at this point in time regarding AstraZeneca, leaving the door open for a lawsuit in the not-too-distant future.
According to Politico, the Commission was considering filing a lawsuit in Belgian court by this Friday and is waiting for formal sign-off from EU countries. Now, for all the trouble the British-Swedish drugmaker has caused, the EU is working on a legal proceeding against it, according to reports in Reuters and Politico. An EU official involved in talks with drugmakers confirmed authorities in Brussels were preparing to sue the company.
His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. “EU states have to decide if they (will) participate.
0 According to Politico, the Commission was considering filing a lawsuit in Belgian court by this Friday and is waiting for formal sign-off from EU countries. Now, for all the trouble the British-Swedish drugmaker has caused, the EU is working on a legal proceeding against it, according to reports in Reuters and Politico. An EU official involved in talks with drugmakers confirmed authorities in Brussels were preparing to sue the company.
His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. “EU states have to decide if they (will) participate.
