Agriculture
Grain markets are also soaring on the western corn belt drought and the dome centered overhead the western Midwest. With the nearing end to corn planting season, and soft exports, this build is expected to persist over the next few weeks.
Currencies
Despite the limited yield support, the dollar is steady to firmer, with sterling, New Zealand dollar, and yen nursing 0.20%-0.35% losses. Yet on Tuesday, traders were exercising caution before the inflation data, helping the dollar post its first gain in three days. The retreat in gold could be largely associated with a broad-based rebound staged by the US dollar amid the cautious market mood. The dollar doesn‘t look to be turning around – Thursday‘s upswing has been erased, but look for the greenback to reflexively rise when confronted with „taper now“ prospects.
The WSJ Dollar Index, which measures the greenback against a basket of other currencies, has been on an almost nonstop slide since the start of April. Investors prefer the safe-haven US dollar amid inflation anxiety and uncertainty on the Fed’s monetary policy stance. Yet, a large deviation from the baseline forecast may stoke market volatility, especially for the US Dollar and precious metals.
LEARN MORE Treasuries rose with the U.S. dollar as investors debated the impact of resurgent inflation on monetary policy. Recent comments from Treasury Secretary Janet Yellen appears to be bolstering the US Dollar and weighing on precious metal prices too. With the recent weakness in the dollar, the rally in Brazilian equities has been even stronger for US-based investors.
The WSJ Dollar Index, which measures the greenback against a basket of other currencies, has been on an almost nonstop slide since the start of April. Investors prefer the safe-haven US dollar amid inflation anxiety and uncertainty on the Fed’s monetary policy stance. Yet, a large deviation from the baseline forecast may stoke market volatility, especially for the US Dollar and precious metals.
LEARN MORE Treasuries rose with the U.S. dollar as investors debated the impact of resurgent inflation on monetary policy. Recent comments from Treasury Secretary Janet Yellen appears to be bolstering the US Dollar and weighing on precious metal prices too. With the recent weakness in the dollar, the rally in Brazilian equities has been even stronger for US-based investors.
Metals
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold? The world’s largest gold ETF – SPDR Gold Trust (GLD) – saw 1.9 million shares of net redemption last week, pausing a four-week inflow streak. Gold traders eagerly await the US inflation data due this Thursday for fresh direction, as the data could throw fresh light on the Fed’s next policy move. less In the current environment of rising inflation and easy monetary policies, the value of gold could potentially go sharply higher from recent levels.
Note that last week, gold had hit almost a five-month high of Rs 49,700 in Indian markets amid a global rally on lingering worries over inflation. The Technical Confluences Detector shows that gold price is struggling below a powerful resistance around $1894, as it attempts a bounce from lower levels. Gold is widely perceived as a store of value and hedge against inflation, therefore a higher-than-expected CPI reading may be positive for its prices.
Gold prices in India inched lower today amid flat global rates. Gold price would then keep an eye on the previous month high of $1913. This mixed dynamic renders gold prices vulnerable to heightened volatility during and after the data.
Note that last week, gold had hit almost a five-month high of Rs 49,700 in Indian markets amid a global rally on lingering worries over inflation. The Technical Confluences Detector shows that gold price is struggling below a powerful resistance around $1894, as it attempts a bounce from lower levels. Gold is widely perceived as a store of value and hedge against inflation, therefore a higher-than-expected CPI reading may be positive for its prices.
Gold prices in India inched lower today amid flat global rates. Gold price would then keep an eye on the previous month high of $1913. This mixed dynamic renders gold prices vulnerable to heightened volatility during and after the data.
Oil
According to COOIT, domestic Indian refineries are currently importing Crude Palm Oil after payment of ₹32 per kg as import duty and ₹41 per kg on Soya Crude Oil. The company has storage capacity of about 260 million barrels of oil and refined products and 14 billion cubic feet of natural gas. When West Texas Intermediate (WTI) oil was around $70 per barrel in 2018, there were 874 operating U.S. oil rigs. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
The Company is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. They are importing palm oil from Malaysia and Indonesia and soyabean oil from Brazil and Argentina. The new company is expected to produce 108,000 to 114,000 barrels of oil equivalent per day in 2022, with adjusted core earnings between $750 million and $800 million.
The pipeline giant owns about 50,000 miles of pipelines for natural gas, oil, refined products, and petrochemicals.
Observed fuel oil exports from Iraq came in low last week at 80,000 MT versus a 2021 average of 321,000 MT. Fuel oil exports from Iran were also soft for a second week, assessed at 80,000 MT versus a year-to-date weekly average of 143,000 MT.
The Company is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. They are importing palm oil from Malaysia and Indonesia and soyabean oil from Brazil and Argentina. The new company is expected to produce 108,000 to 114,000 barrels of oil equivalent per day in 2022, with adjusted core earnings between $750 million and $800 million.
The pipeline giant owns about 50,000 miles of pipelines for natural gas, oil, refined products, and petrochemicals.
Observed fuel oil exports from Iraq came in low last week at 80,000 MT versus a 2021 average of 321,000 MT. Fuel oil exports from Iran were also soft for a second week, assessed at 80,000 MT versus a year-to-date weekly average of 143,000 MT.
United States
This is the conundrum for our Treasury and Fed: keep printing money and cause inflation to run intractable, which will destroy the stock market and the economy. less The capital markets appear to be in a holding pattern ahead of this week’s big events, including the US CPI and the ECB meeting. Nasdaq Futures are trading up by 25 points (up 0.2%) while Dow Futures are trading down by 41 points (down 0.1%). On the other hand however, an inflation overshoot may reignite fears about the Fed tapering stimulus and exerting downward pressure on the yellow metal.
Because of this, Wall Street is great at creating the next narrative, so they will certainly see some way to push the market higher given enough time. The Fed may be forced by inflation realities to start tapering sooner than it (and Wall Street) would like.” US JET FUEL EXPORTS: not so much of a whisper of jet fuel exports from the US, either last week or this week. Starting with New York Harbor (NYH) ULSD, we see front month ULSD as a differential (diff) to front month NYMEX ULSD at -0.19/cents per gallon (cpg).
Listed on Nasdaq under the ticker NVDA, the company is up 3,802% in the last ten years, currently trading at record highs. She also added that a “slightly higher” interest rate environment would be a “plus” for the US and the Fed.
Because of this, Wall Street is great at creating the next narrative, so they will certainly see some way to push the market higher given enough time. The Fed may be forced by inflation realities to start tapering sooner than it (and Wall Street) would like.” US JET FUEL EXPORTS: not so much of a whisper of jet fuel exports from the US, either last week or this week. Starting with New York Harbor (NYH) ULSD, we see front month ULSD as a differential (diff) to front month NYMEX ULSD at -0.19/cents per gallon (cpg).
Listed on Nasdaq under the ticker NVDA, the company is up 3,802% in the last ten years, currently trading at record highs. She also added that a “slightly higher” interest rate environment would be a “plus” for the US and the Fed.
China
Recent crypto price increases have encouraged some Chinese bitcoiners to mine coal and restart idle power plants without permission, endangering lives and threatening President Xi Jinping’s climate goals. China s wolf warriors are turning the world against Beijing LME s open outcry trading floor lives to holler another day. With a crypto circus in tow, Beijing’s commitments to cut carbon emissions by 65% before 2030 would be near impossible to meet. Lawmakers in China are making progress on legislation aimed at countering sanctions from the U.S. Read how China s Wolf Warriors are turning the world against Beijing.
Europe
U.S. President Joe Biden and U.K. Prime Minister Boris Johnson plan to use this week s Group of Seven leaders summit to rally support for a global vaccine push. Escalating dispute | The EU is ready to consider tougher retaliation if the U.K. fails to implement its post-Brexit obligations over Northern Ireland, according to a bloc official. With talks due tomorrow, patience in Brussels is running thin over what the EU sees as the U.K. s unilateral actions and threats.
“What’s not to like?”The ECB meets to set policy this week. Eurozone GDP 3rd reading due today however main focus will be on US CPI & ECB on Thursday. In addition to German macro, FX players are looking ahead to US inflation data and the ECB meeting on Thursday. His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. Lagarde’s press conference carries downside risks.
0 “What’s not to like?”The ECB meets to set policy this week. Eurozone GDP 3rd reading due today however main focus will be on US CPI & ECB on Thursday. In addition to German macro, FX players are looking ahead to US inflation data and the ECB meeting on Thursday. His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. Lagarde’s press conference carries downside risks.
