Agriculture
The FAO Food Price Index (FFPI) measures the monthly change in international prices of a basket of food commodities, such as cereals, oilseeds, dairy products, meat, and sugar. The Food and Agriculture Organization’s Food Price Index rose for a ninth consecutive month in February, hitting levels not seen since July 2014, led by sugar and vegetable oils. Sugar prices rose 6.4% month on month amid production woes and strong demand from Asian countries.
Maize and rice prices increased while wheat export prices remained mostly stable, FAO said.
Maize and rice prices increased while wheat export prices remained mostly stable, FAO said.
Currencies
Oil is higher, yields are higher, most equity markets are lower, and the dollar has surged. The reaction in markets is since felt in full force – US ten-year Treasury yields have soared above 1.55%, carrying the dollar higher. The euro fell to new lows for the year near $1.1915, and the dollar pushed above JPY108.50.The Antipodeans and sterling are leading the majors lower with 0.5%-0.7% declines. A sharp selloff in the stock market indices and a strong bounce in the dollar.
The non-yielding precious metal has been struggling to compete with the US Dollar and rising longer-term Treasury rates as of late. However, while sterling has room to rise against many other currencies, it seems powerless against the dollar. The Chinese economy should achieve a soft landing for three main reasons: * In U.S. dollar terms. A stronger dollar pushed gold prices down. A stronger U.S. dollar pushed gold prices down. The dollar strengthened across the board, while US equity indices retreated.
The non-yielding precious metal has been struggling to compete with the US Dollar and rising longer-term Treasury rates as of late. However, while sterling has room to rise against many other currencies, it seems powerless against the dollar. The Chinese economy should achieve a soft landing for three main reasons: * In U.S. dollar terms. A stronger dollar pushed gold prices down. A stronger U.S. dollar pushed gold prices down. The dollar strengthened across the board, while US equity indices retreated.
Metals
He is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the gold market. We pointed out that last time around prices touched the simple 200 moving average, Silver prices exploded. Looking at this sideways range, we find ample support of prices within the range right now as a healthy spot to acquire physical Silver. less Over the past 24 hours, anti-fiat gold prices extended what has been the dominant downtrend since August.
As well he is publishing his bi-weekly comprehensive for his numerous international readers focusing on Gold, Silver, Mining, commodities and cryptocurrencies. On the one hand, gold has a hard time bouncing from the lows, and it keeps the bearish trend seen this year. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the “pro aurum group”. On the commodities markets, oil and gold were key markets. ANALYSTS’ RECOMMENDATION Equinox Gold Corp: Canaccord Genuity cuts target price to C$14.5 from C$20.5, following the company s lower-than-expected fourth-quarter results and higher costs.
He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free.
As well he is publishing his bi-weekly comprehensive for his numerous international readers focusing on Gold, Silver, Mining, commodities and cryptocurrencies. On the one hand, gold has a hard time bouncing from the lows, and it keeps the bearish trend seen this year. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the “pro aurum group”. On the commodities markets, oil and gold were key markets. ANALYSTS’ RECOMMENDATION Equinox Gold Corp: Canaccord Genuity cuts target price to C$14.5 from C$20.5, following the company s lower-than-expected fourth-quarter results and higher costs.
He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free.
Oil
OPEC plus has lost its fear of higher oil prices and its fear that the U.S. cares about rising oil prices. The vegetable oil price index rose 6.2% to levels not seen since April 2012, with palm oil prices rising for the ninth straight month. Oil prices jumped, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase supply. OPEC plus now controls the global oil prices and as far as prices, well-baby you ain’t seen nothing yet.
Despite broad-based risk aversion, which took the tech-heavy Nasdaq Composite over 2% lower on Thursday, growth-linked WTI crude oil prices surged 4.85%. “2020 was marked by the impact of the unexpected COVID-19 outbreak and the drop in oil prices,” the firm said in a statement. The European Brent benchmark is crucial to the global oil system as it is used to price more than half the world’s physical crude trades. This is not news to my readers as we warned that Biden policies will send oil and gas prices soaring.
Most of Wall Street’s top banks hiked their forecasts for oil prices in the wake of the decision. In Europe the Stoxx 600 Index was 0.4% lower at 5:50 a.m. with energy companies getting a lift from the surge in oil prices.
Despite broad-based risk aversion, which took the tech-heavy Nasdaq Composite over 2% lower on Thursday, growth-linked WTI crude oil prices surged 4.85%. “2020 was marked by the impact of the unexpected COVID-19 outbreak and the drop in oil prices,” the firm said in a statement. The European Brent benchmark is crucial to the global oil system as it is used to price more than half the world’s physical crude trades. This is not news to my readers as we warned that Biden policies will send oil and gas prices soaring.
Most of Wall Street’s top banks hiked their forecasts for oil prices in the wake of the decision. In Europe the Stoxx 600 Index was 0.4% lower at 5:50 a.m. with energy companies getting a lift from the surge in oil prices.
United States
Why would a rise in interest rates hurt stocks, particularly high-flying technology stocks?It has to do with the way Wall Street values stocks. Wall Street futures rose as market participants awaited the crucial non-farm payrolls data for signs of an economic recovery. Powell Fed Chair Jerome Powell left bond investors underwhelmed by his comments on the Treasury market yesterday. Recent news claims that historically this specific market is held within range by large wall street players.
The Fed is of course “lost at sea” as it thinks it is all-powerful when it can’t discern what is going on in the bond market. Wall Street has beefed up its bond selling in anticipation of more government spending and the potential of a vaccine-boosted economic recovery later this year. Bond yields are still at a historically low level, and the Fed Funds Rate remains 0%. Even though corrections are healthy aspects of the market, they are not super common, which is why many savvy Wall Street firms take advantage of them.
A model Wall Street uses to value stocks is flashing caution.Tech stocks are in a correction. The downturn was driven by technology stocks and pushed the Nasdaq right near correction territory, down roughly 10% from its mid-February records.
The Fed is of course “lost at sea” as it thinks it is all-powerful when it can’t discern what is going on in the bond market. Wall Street has beefed up its bond selling in anticipation of more government spending and the potential of a vaccine-boosted economic recovery later this year. Bond yields are still at a historically low level, and the Fed Funds Rate remains 0%. Even though corrections are healthy aspects of the market, they are not super common, which is why many savvy Wall Street firms take advantage of them.
A model Wall Street uses to value stocks is flashing caution.Tech stocks are in a correction. The downturn was driven by technology stocks and pushed the Nasdaq right near correction territory, down roughly 10% from its mid-February records.
China
While it will be challenging for Beijing to achieve its goal, China’s plan to become a green superpower will have ripple effects around the world.
Europe
Ocasio-Cortez’s proposed $15 federal minimum wage would be much more comparable to an EU-wide minimum wage, which doesn’t exist—and for good reason. If France’s minimum wage (or higher) were imposed on Poland by EU mandate, it would inflict much more unemployment on Poland (where average wages are lower) than on France. In European Union countries that actually have a national minimum wage, it is lower than $15 an hour. 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. By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching. While German Factory Orders beat estimates with an increase of 1.4% in January, the EU’s vaccination campaign continues at a sluggish pace. Main focus: Europe, Eurozone, Germany and ECB.
0 David Merkel is an investment professional, and like every investment professional, he makes mistakes. By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching. While German Factory Orders beat estimates with an increase of 1.4% in January, the EU’s vaccination campaign continues at a sluggish pace. Main focus: Europe, Eurozone, Germany and ECB.
