Agriculture
China has never been a leading player on the U.S. ethanol export front and the corn-based biofuel historically accounts for a small portion of American farm product trade. But possibilities could be strong given China s generally thin supplies of agricultural commodities and its record purchases of items like corn and soybeans.
Currencies
King Dollar has been trading within a rising trend channel for the past 12 years, while the Euro has done the same in the other direction. Gold prices today extended their decline in Indian markets with precious metals weighed down by a stronger US 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 GBP/USD is trading under pressure declining for a second straight session amid a firmer US Dollar and as EU demands UK COVID vaccines from AstraZeneca (AZN).
A rally in the US Dollar would suggest incoming headwinds for commodities prices. The dollar strengthened after the FOMC meeting and Fed Chair Powell’s speech, with the euro retracing to 1.2093. The dollar rose to almost a two-week high around CNY6.4950 before easing back toward CNY6.47 (CYB). When shares fall, the safe-haven dollar gains, weighing on EUR/USD. The gains are most pronounced against the dollar bloc.
The dollar is higher (UUP).
A rally in the US Dollar would suggest incoming headwinds for commodities prices. The dollar strengthened after the FOMC meeting and Fed Chair Powell’s speech, with the euro retracing to 1.2093. The dollar rose to almost a two-week high around CNY6.4950 before easing back toward CNY6.47 (CYB). When shares fall, the safe-haven dollar gains, weighing on EUR/USD. The gains are most pronounced against the dollar bloc.
The dollar is higher (UUP).
Metals
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold? Gold prices are trading down by 0.4% at Rs 48,686 per 10 grams. Gold prices are trading down by 0.3% at Rs 48,725 per 10 grams. Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. On MCX, gold futures fell 0.3% to Rs 48,702 per 10 gram in the fifth straight day of decline.
“We could see a strong spurt in gold demand for the next few years, a repeat of what happened after a sharp drop in 2009,’ he said. In such a scenario, the current high tax on gold increases the lure of smuggling,” he added. Note that gold prices are now down about Rs 7,500 from their August highs of Rs 56,300. S&P 500 futures pointed to more losses at the open, the 10-year Treasury yield was at 1.008%, oil slipped and gold was slightly lower. In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought.
“We could see a strong spurt in gold demand for the next few years, a repeat of what happened after a sharp drop in 2009,’ he said. In such a scenario, the current high tax on gold increases the lure of smuggling,” he added. Note that gold prices are now down about Rs 7,500 from their August highs of Rs 56,300. S&P 500 futures pointed to more losses at the open, the 10-year Treasury yield was at 1.008%, oil slipped and gold was slightly lower. In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought.
Oil
Biden Ban on Oil, Gas Leasing on U.S. Lands Challenged in Court Western Energy Alliance says it represents 200 oil and natural gas companies. MARKETS TODAY OIL: Oil steadied after earlier declines fuelled by fresh travel curbs to prevent new coronavirus outbreaks and delays to vaccine rollouts. COG is an independent oil and gas company engaged in the development, exploitation, and marketing of oil and gas properties throughout the continental United States. Onshore fuel oil stocks fell by 1.208 million barrels, or about 190,000 tonnes, to 20.791 million barrels, or 3.274 million tonnes, Enterprise Singapore data showed.
less The Covid‑19 outbreak triggered an unprecedented and precipitous crude oil demand shock, resulting in a 40% decline in prices in the first quarter of 2020. Oil declined fuelled by fresh travel curbs to prevent new coronavirus outbreaks and delays to vaccine rollouts. Even the largest drawdown of US crude oil inventories (9.9 mln barrels) has not deterred the selling.
less An updated temperature forecast from the National Weather Service’s Climate Prediction Center injected some bullish energy into natural gas this week, sending prices nearly 6% higher. Moreover, experts expect generally upward price pressures in 2021 amid relatively low natural gas production to balance the supply and demand. A recovering late in the European morning has seen March WTI recover to nearly flat on the day after dropping around 1% in earlier turnover (OIL).
less The Covid‑19 outbreak triggered an unprecedented and precipitous crude oil demand shock, resulting in a 40% decline in prices in the first quarter of 2020. Oil declined fuelled by fresh travel curbs to prevent new coronavirus outbreaks and delays to vaccine rollouts. Even the largest drawdown of US crude oil inventories (9.9 mln barrels) has not deterred the selling.
less An updated temperature forecast from the National Weather Service’s Climate Prediction Center injected some bullish energy into natural gas this week, sending prices nearly 6% higher. Moreover, experts expect generally upward price pressures in 2021 amid relatively low natural gas production to balance the supply and demand. A recovering late in the European morning has seen March WTI recover to nearly flat on the day after dropping around 1% in earlier turnover (OIL).
United States
Earnings per share rose to $1.68 from $1.25, beating Wall Street targets. —, with the Nasdaq losing 1.2%, led lower by technology companies that reported earnings after Wednesday’s close, including Apple , Tesla and Facebook. Contracts for the Nasdaq-100 slid 1.2%, after earnings from several technology giants including Apple underwhelmed investors late Wednesday. Nasdaq Futures are trading down by 142 points (down 1.1%), while Dow Futures are trading down by 118 points (down 0.4%).
US stock futures are trading lower today, indicating a negative opening for Wall Street. US stock futures are trading lower today indicating a weak opening for Wall Street indices.
less Risk off is setting the scene as Europe stock markets open after stocks on Wall Street saw the worst performance since October. less According to a recent report, DocuSign (NASDAQ: DOCU) is the leader in the e-signature market with more than 70% of the global digital signature and document services market. European stocks were in the red and Japan s Nikkei ended lower following Wall Street’s worst sell-off since October in the previous session on concerns about high valuations.
Tesla Inc: The company’s fourth-quarter profit fell short of Wall Street expectations on Wednesday and the company failed to provide a clear target for 2021 vehicle deliveries.
US stock futures are trading lower today, indicating a negative opening for Wall Street. US stock futures are trading lower today indicating a weak opening for Wall Street indices.
less Risk off is setting the scene as Europe stock markets open after stocks on Wall Street saw the worst performance since October. less According to a recent report, DocuSign (NASDAQ: DOCU) is the leader in the e-signature market with more than 70% of the global digital signature and document services market. European stocks were in the red and Japan s Nikkei ended lower following Wall Street’s worst sell-off since October in the previous session on concerns about high valuations.
Tesla Inc: The company’s fourth-quarter profit fell short of Wall Street expectations on Wednesday and the company failed to provide a clear target for 2021 vehicle deliveries.
China
The first is Beijing’s desire to get a tighter grip on China’s booming online financial services industry. Xi Jinping has stated his case very plainly, only no one wants to listen to the dictator; or at least take him literally. The PBOC continued its draining campaign, and overnight repo has increased to 3.05%, the highest in nearly six years.
Europe
On Wednesday, Stavros Lambrinidis, the EU s ambassador in Washington, pressed the Biden administration to immediately lift the U.S. tariffs, saying the bloc would reciprocate by removing its countermeasures. In a blowout for the way the European Commission organized the vaccine purchasing, the European Union countries are left without enough vaccines in the pipeline. Let me phrase it in terms of questions: David J. Merkel, CFA — 2010-present, I run my own equity asset management shop, called Aleph Investments.
David Merkel is an investment professional, and like every investment professional, he makes mistakes. The decline picked up momentum during the European session on the heels of comments from ECB Governing Council member Klaas Knot, who voiced concerns about the exchange rate. First, since Brexit started, the buzz was that new competition from Frankfurt will drive business away from the City of London. Later on, reports suggested that the ECB may further cut its deposit rate – which is at -0.50%.
The ruling by the Luxembourg-based Court of Justice of the European Union (CJEU) will strengthen the European Commission’s hand in other antitrust investigations. Probably not, but one starts to see the true impact of Brexit – and it is not about fisheries. got over Brexit and will pivot toward the U.S. instead.
0 David Merkel is an investment professional, and like every investment professional, he makes mistakes. The decline picked up momentum during the European session on the heels of comments from ECB Governing Council member Klaas Knot, who voiced concerns about the exchange rate. First, since Brexit started, the buzz was that new competition from Frankfurt will drive business away from the City of London. Later on, reports suggested that the ECB may further cut its deposit rate – which is at -0.50%.
The ruling by the Luxembourg-based Court of Justice of the European Union (CJEU) will strengthen the European Commission’s hand in other antitrust investigations. Probably not, but one starts to see the true impact of Brexit – and it is not about fisheries. got over Brexit and will pivot toward the U.S. instead.
