Agriculture
According to Indian Sugar Mill Association (ISMA), sugar mills have the opportunity to contract and export sugar till March-April 2021, by when Brazilian sugar comes into the market. “There is good demand for raw sugar in the world market compared to white sugar. But it was sweet for stocks and a select group of raw materials, particularly sugar prices, which had their best year in five. Mills must increase the export without any delay,” said sugar trader Ashok Ghorpade.
Industry players say that mills are facing a loss of ₹7 after per kg sugar production. The prices of raw and white sugar are almost the same at ₹2,700 per quintal. Brazilian sugar production is estimated to be over a record high of 38 million tonnes from April 2021. Coffee may speed its rally while cocoa may suffer more loss. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.
Industry players say that mills are facing a loss of ₹7 after per kg sugar production. The prices of raw and white sugar are almost the same at ₹2,700 per quintal. Brazilian sugar production is estimated to be over a record high of 38 million tonnes from April 2021. Coffee may speed its rally while cocoa may suffer more loss. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.
Currencies
The dollar fell, after China lifted its official yuan exchange rate, while gold hit a two-month high. The U.S. dollar fell, after China lifted its official yuan exchange rate, while gold hit a two-month high. Since gold is bought and sold with dollars, a weaker dollar makes gold cheaper for foreign investors. The U.S. dollar registered the first annual drop since 2017 with the ICE U.S. Dollar Index dropping 6.7%. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action.
In other words, the price of gold lagged the move lower in the dollar, fueling expectations that it will trade again above $2,000 sooner rather than later. Similarly, one can find times when gold is correlated to the dollar, the yen, and most likely the popularity of peanuts at Cub games in some time frame. Georgia’s Senate runoff elections today may serve as a key catalyst for the US Dollar, which will then influence broader asset classes, including commodities.
The answer is no because the U.S. dollar bearish trend continued for several months after the price of gold reached $2,000. Additionally, a weak dollar added to the strength as it makes dollar-denominated assets attractive for foreign investors, raising the appeal for commodities.
In other words, the price of gold lagged the move lower in the dollar, fueling expectations that it will trade again above $2,000 sooner rather than later. Similarly, one can find times when gold is correlated to the dollar, the yen, and most likely the popularity of peanuts at Cub games in some time frame. Georgia’s Senate runoff elections today may serve as a key catalyst for the US Dollar, which will then influence broader asset classes, including commodities.
The answer is no because the U.S. dollar bearish trend continued for several months after the price of gold reached $2,000. Additionally, a weak dollar added to the strength as it makes dollar-denominated assets attractive for foreign investors, raising the appeal for commodities.
Metals
Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. As a result, I expect gold will not only regain its all-time high set in August but establish a markedly higher new record level this year. Precious metals like gold and silver were the star performers as COVID-19 cases continued to surge, raising the appeal for safe-haven demand. Therefore, the recent pullback from the highs met support given by the previous resistance – so the price of gold bounced strongly, now threatening to move above $2,000.
Most actively traded gold futures for February delivery climbed more than 3% in the first two trading sessions of the year, to around $1,954.30 a troy ounce. I’d simply like to point out that, since late 2019 when real rates crossed into negative territory then headed sharply lower, kicked off a big rally in gold. In Indian markets, gold prices were mixed today, a day after the precious metal had surged following a global rally.
“In other words, gold and silver eventually became money because of this perceived mystical link that made it distinct from other worldly commodities. For several months, the price of gold tried to break higher and eventually was rejected. On MCX, gold futures were down 0.03% to Rs 51,410 per 10 grams after a Rs 1,200 surge in the previous session.
Most actively traded gold futures for February delivery climbed more than 3% in the first two trading sessions of the year, to around $1,954.30 a troy ounce. I’d simply like to point out that, since late 2019 when real rates crossed into negative territory then headed sharply lower, kicked off a big rally in gold. In Indian markets, gold prices were mixed today, a day after the precious metal had surged following a global rally.
“In other words, gold and silver eventually became money because of this perceived mystical link that made it distinct from other worldly commodities. For several months, the price of gold tried to break higher and eventually was rejected. On MCX, gold futures were down 0.03% to Rs 51,410 per 10 grams after a Rs 1,200 surge in the previous session.
Oil
OPEC drama after OPEC leaders rejected Russia’s proposal to raise oil production by 500,000 barrels a day in February caused the biggest correction in oil in weeks. Oil prices jumped on hopes of output cut from OPEC+ in February and as tension around Iran’s seizure of a South Korean vessel simmered. less Crude oil prices reverse Monday’s losses and manage regain the $48.00 mark and above per barrel on turnaround Tuesday. European share markets edged higher today, lifted by oil and retail stocks, while investors looked past a new national lockdown in Britain to contain a surge in coronavirus cases.
The Saudis argue that new coronavirus lockdowns mean demand will be lower than expected, while Russia’s oil minister wants to stick to the original plan.
Oil steadied as the OPEC+ meeting is continuing today, and most reportedly do not favor an increase in output next month. He said that loose pumps might sink the oil market and traders agreed by selling the market off hard when they sensed that there may be no agreement. REUTERS TECHNICAL ANALYSIS Q1 OUTLOOK 2021 – WANG TAO Crude, palm oil and base metals are expected to extend gains in next quarter.
Later in the NA session, the API will publish its usual weekly report on crude oil stockpiles ahead of tomorrow’s same report by the EIA. The latest Weekly Natural Gas Storage Report from the EIA for the week ending December 25 shows working gas storage at 3,460 billion cubic feet (Bcf).
The Saudis argue that new coronavirus lockdowns mean demand will be lower than expected, while Russia’s oil minister wants to stick to the original plan.
Oil steadied as the OPEC+ meeting is continuing today, and most reportedly do not favor an increase in output next month. He said that loose pumps might sink the oil market and traders agreed by selling the market off hard when they sensed that there may be no agreement. REUTERS TECHNICAL ANALYSIS Q1 OUTLOOK 2021 – WANG TAO Crude, palm oil and base metals are expected to extend gains in next quarter.
Later in the NA session, the API will publish its usual weekly report on crude oil stockpiles ahead of tomorrow’s same report by the EIA. The latest Weekly Natural Gas Storage Report from the EIA for the week ending December 25 shows working gas storage at 3,460 billion cubic feet (Bcf).
United States
Nasdaq Futures are trading up by 21 points (up 0.2%) while Dow Futures are trading up by 42 points (up 0.1%). Nasdaq Futures are trading up by 28 points (up 0.2%), while Dow Futures are trading up by 80 points (up 0.3%). US stock futures are trading higher today, indicating a positive opening for Wall Street indices. US stock futures are trading higher today indicating a positive opening for Wall Street indices. We’ve already seen some position adjusting ahead of today’s Georgia state runoff, and more adjustments will likely be forthcoming ahead of the Fed Minutes and US jobs report.
The US is also struggling with record hospitalizations, and data on both sides of the pond is probably incomplete amid the holidays. “Currently, Wall Street analysts are wildly exuberant on expectations of explosive economic growth, rising interest rates, and inflation. In September 2008, the Fed unleashed Quantitative Easing (QE1), creating money “ab nihilo,” and bought government securities in the market.
Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening.
The US is also struggling with record hospitalizations, and data on both sides of the pond is probably incomplete amid the holidays. “Currently, Wall Street analysts are wildly exuberant on expectations of explosive economic growth, rising interest rates, and inflation. In September 2008, the Fed unleashed Quantitative Easing (QE1), creating money “ab nihilo,” and bought government securities in the market.
Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening.
Europe
German Chancellor Angela Merkel is consulting with regional officials and health experts today about extending lockdown measures after criticism over alleged failures in the government s vaccination program. The most significant one last year was the EU setting a legally binding target to reach net-zero emissions by 2050. The EU has a history of including references to the Paris Agreement, but this deal takes it one step further and makes it a make-or-break issue.
Prime Minister Boris Johnson asked the nation to stay at home as hospitals are overwhelmed by the rapid spread of COVID-19. Take the Brexit deal, which the U.K. and EU approved in the nick of time before their Jan. 1 deadline. What you should read EU Seeks Up To 300 Million More Doses The bloc is in talks with Pfizer and BioNTech for more shots. Moderna has received authorisation for its COVID-19 vaccine in the United States and Canada and additional authorisations are under review in the European Union, Singapore, Switzerland and Britain.
0 Prime Minister Boris Johnson asked the nation to stay at home as hospitals are overwhelmed by the rapid spread of COVID-19. Take the Brexit deal, which the U.K. and EU approved in the nick of time before their Jan. 1 deadline. What you should read EU Seeks Up To 300 Million More Doses The bloc is in talks with Pfizer and BioNTech for more shots. Moderna has received authorisation for its COVID-19 vaccine in the United States and Canada and additional authorisations are under review in the European Union, Singapore, Switzerland and Britain.
