Agriculture
Coffee may speed its rally while cocoa may suffer more loss.
Currencies
The dollar’s rise came from higher yields – a result of expectations for higher debt following a new stimulus driven by the new administration. In global markets, gold prices moved slightly lower today amid a stronger US dollar and higher yields. less Kathy Lien Follow The U.S. dollar traded higher against all of the major currencies on Thursday as months of U.S. political uncertainty finally settled. When they created the Euro, the promise was that everyone would pay the same interest rates pointing to the dollar and one federal interest rate.
4-Week Average Jobless Claims at 836K vs. 778K The U.S. dollar traded higher against all of the major currencies on Thursday as months of U.S. political uncertainty finally settled. Treasury yields rose and the dollar strengthened, pushing gold lower by more than a percent. U.S. Treasury yields rose, and the U.S. dollar strengthened, pushing gold lower by more than a percent. less There is worrying evidence that 2021 will see the end of fiat currencies, led by the US dollar.
If the official figures also show a squeeze in hiring, the dollar could drop on expectations of more stimulus from the central bank. Image Source: Unsplash The black gold also draws support from the retracement in the US dollar from weekly highs.
4-Week Average Jobless Claims at 836K vs. 778K The U.S. dollar traded higher against all of the major currencies on Thursday as months of U.S. political uncertainty finally settled. Treasury yields rose and the dollar strengthened, pushing gold lower by more than a percent. U.S. Treasury yields rose, and the U.S. dollar strengthened, pushing gold lower by more than a percent. less There is worrying evidence that 2021 will see the end of fiat currencies, led by the US dollar.
If the official figures also show a squeeze in hiring, the dollar could drop on expectations of more stimulus from the central bank. Image Source: Unsplash The black gold also draws support from the retracement in the US dollar from weekly highs.
Metals
Gold prices for the latest contract on MCX are trading down by 1.5% at Rs 50,157 per 10 grams. Gold prices are trading down 0.5% at Rs 50,649 per 10 grams. Note that compared to the August highs of Rs 56,200, gold prices are down about Rs 6,000 per 10 grams. February gold futures on MCX fell 0.3% to Rs 50,775 per 10 grams, in its second decline in three days. In the previous session, gold had jumped 0.9% after crashing nearly Rs 1,200 per 10 grams on December 6.
Tracking flat global rates, gold prices today edged lower in Indian markets. He follows regularly since 1970 the gold, silver and foreign exchange markets. >> 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. Meanwhile, gold prices continue to maneuver lower after U.S. President Trump appeared to acknowledge President-elect Biden’s win following a day of chaos on Capitol Hill.
Fabrice shares his thoughts on the economy, stock markets, geopolitics, gold and silver.
Tracking flat global rates, gold prices today edged lower in Indian markets. He follows regularly since 1970 the gold, silver and foreign exchange markets. >> 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. Meanwhile, gold prices continue to maneuver lower after U.S. President Trump appeared to acknowledge President-elect Biden’s win following a day of chaos on Capitol Hill.
Fabrice shares his thoughts on the economy, stock markets, geopolitics, gold and silver.
Oil
Now with President Trump promising a smooth transition, to President-Elect Joe Biden the oil trade knows that policies are coming that will make oil prices higher. From a broad perspective, the American oil benchmark continues to draw support from Saudi Arabia’s unexpected decision to voluntarily cut oil output. The idea of “peak oil,” historically a reference to a fear that oil supply was running out, now means something entirely different. Asian equities rallied and oil prices edged higher as investors looked beyond rising coronavirus cases and placed bets on global economic recovery.
An oil trading source and an official at Platts, the price assessment agency, said that seven cargoes was believed to be a daily record in recent history. While the move happens every year, crude is a 20% decline in 2020 means that the value of oil index investments has been far below its target for months. less The crude oil bull market was a not so smooth transition from the COVID-19 inspired demand crash.
Now the oil market will get even more support in the short term as commodity funds start to rebalance.
Under its “stated policies scenario,” the International Energy Agency estimates that oil demand will peak around 2030 and plateau. Oil demand is still surging in China and other parts of Asia and there are more signs that already global supplies are getting squeezed.
An oil trading source and an official at Platts, the price assessment agency, said that seven cargoes was believed to be a daily record in recent history. While the move happens every year, crude is a 20% decline in 2020 means that the value of oil index investments has been far below its target for months. less The crude oil bull market was a not so smooth transition from the COVID-19 inspired demand crash.
Now the oil market will get even more support in the short term as commodity funds start to rebalance.
Under its “stated policies scenario,” the International Energy Agency estimates that oil demand will peak around 2030 and plateau. Oil demand is still surging in China and other parts of Asia and there are more signs that already global supplies are getting squeezed.
United States
While we still see limited near-term inflation pressures, larger fiscal stimulus increases right-tail inflation risks in the longer run, particularly given the Fed’s desire to tolerate higher inflation. Moving onPresident Donald Trump said he would turn his focus toward the transition to the incoming Biden administration in a video message published last night. US stock futures are trading marginally 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. less The markets have started the new year strongly, with rises, ignoring the new restrictions against coronavirus infections in some countries and the siege of the US Capitol. Nasdaq Futures are trading up by 38 points (up 0.3%) while Dow Futures are trading up by 162 points (up 0.5%). Nasdaq Futures are trading up by 37 points (up 0.3%), while Dow Futures are trading up by 52 points (up 0.2%).
Outside of the US, international equity markets have staged nice rallies over the first three trading days of the year. Indeed, HSBC reckons that inflation and the bond market will “decouple” under the Fed’s new approach, with modest increases being absorbed by a decline in real yields. Chaos (and several deaths) followed as Trump supporters stormed the Capitol and temporarily shutdown efforts to formally certify Biden’s election victory.
US stock futures are trading higher today, indicating a positive opening for Wall Street indices. less The markets have started the new year strongly, with rises, ignoring the new restrictions against coronavirus infections in some countries and the siege of the US Capitol. Nasdaq Futures are trading up by 38 points (up 0.3%) while Dow Futures are trading up by 162 points (up 0.5%). Nasdaq Futures are trading up by 37 points (up 0.3%), while Dow Futures are trading up by 52 points (up 0.2%).
Outside of the US, international equity markets have staged nice rallies over the first three trading days of the year. Indeed, HSBC reckons that inflation and the bond market will “decouple” under the Fed’s new approach, with modest increases being absorbed by a decline in real yields. Chaos (and several deaths) followed as Trump supporters stormed the Capitol and temporarily shutdown efforts to formally certify Biden’s election victory.
Europe
The European Union secured an extra 300 million doses of the Pfizer vaccine as governments in the region introduce even tighter lockdown measures. On a call with 250 business leaders this week, Johnson spoke in optimistic tones about the opportunity to shred burdensome regulations after Brexit. Ursula von der Leyen, President of the European Commission, announced the EU secured more doses of the vaccine. Britain s life outside the European Union had begun without the predicted disruption.Brexiters were quick to claim victory.
Brexit becomes trucker nightmare as red tape ties up drivers. The UK will suffer a hangover from both the pandemic and its exit from the European Union this year. That figure will drop to 12% in 2035, or less if there is a deeper divide between the EU and Britain. For full EU coverage, try the Brussels Edition.Like getting the Brexit Bulletin? Brexit Bulletin Follow Us Get the newsletter What s happening?
0 Brexit becomes trucker nightmare as red tape ties up drivers. The UK will suffer a hangover from both the pandemic and its exit from the European Union this year. That figure will drop to 12% in 2035, or less if there is a deeper divide between the EU and Britain. For full EU coverage, try the Brussels Edition.Like getting the Brexit Bulletin? Brexit Bulletin Follow Us Get the newsletter What s happening?
