Close: London Session | Forex, Metals, Oil, Agriculture March 26, 2021



The longer-than-expected closure of one of the world’s most important maritime routes will disrupt global supply chains for everything from grain to cars to coffee. Containers of robusta coffee the type used in Nescafe are held up in the disruption to maritime traffic caused by the lodged vessel, the Ever Given. The crisis could soon hit your instant coffee, made from robusta beans. Corn pop | High-level talks between Beijing and Washington may have broken down into bickering, but American farmers are still selling boatloads of corn to Chinese importers.
Which European clothing chain was the target of a Chinese boycott campaign after saying it wouldn t use cotton from Xinjiang province? The company processes oilseeds, corn, wheat, cocoa, and other agricultural commodities.


“For the week the currency remained flat against the US currency as FPI flows and greenback sales offset the broad strength in the dollar,” Iyer said. less (Video length 00:51:37) Peter Schiff discussing inflation, gold, treasuries, dollar, fiat currencies, cryptocurrencies, bitcoin, emerging markets, and silver on Kitco News. News feed for 2021.03.26: Technical indicators of the currency pair: The sterling stood out from all the group 10 currency pairs that declined against the dollar.
The dollar was in the green, buoyed by hopes over improving U.S. economic data, while gold prices steadied. The U.S. dollar was in the green, buoyed by hopes over improving U.S. economic data, while gold prices steadied. On Thursday, the rupee had settled at 72.62.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14 per cent to 92.71. less Gold spent the week in a downward trend, testing the U$1720-25 level regularly, mainly as the Dollar Index strengthened.
The US dollar also continues to rise on the back of positive data and has already renewed its highs on March 9. With financial year-end adjustment completed today, the trend in currency will be decided by dollar inflows and by domestic cases of infections, Parmar added. Weakening of the euro against the dollar resulted from a sharp decline in the EURGBP cross pair.


This indicates that gold demand is returning, lining up with various celebrations that require gold as part of the festivities. Now that the gold price is decreasing, it appears that the retail market for gold is recovering. Gold prices today declined in Indian markets, tracking softer global rates. In an initial response asset prices plummeted, the gold price declined more than 12%. Most of the gold demand in Asia is for jewelry, and buyers were disillusioned from high prices.
We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Perth and soon Dubai. Silver is priced far lower than gold so it is easier for new investors to jump in with only 1,000 euros. Gold prices are trading down by 0.3% at Rs 44,555 per 10 grams. Gold prices are trading down by 0.1% at Rs 44,625 per 10 grams. With that in mind, what are some risks that crude oil and gold prices face heading into the weekend?


less Crude oil prices fell on Thursday, giving up a decent chunk of gains from Wednesday as a blockage at Suez Canal increased concerns about global supply distribution. It is estimated that about 2 million barrels of crude oil are being withheld each day the container ship remains stuck on the sandbank. Palm prices are up close to 10% this year, and soy oil soared about 30%.There are several factors driving the gains. The oil market, already in a shoulder season correction mode, is not freaking out yet but most likely will if the blockage goes on for more than 2 weeks.
Supplies of oil are starting to come back into the world market, said Don Roose, president of Iowa-based brokerage U.S. Commodities. Crude oil prices remain at risk in the near-term given that WTI has managed to confirm a break under rising support from November. Emilio Jos Heredia Collado admitted to a multiyear conspiracy to manipulate the fuel oil market, the U.S. Department of Justice said.
Meanwhile, Argentina, the top global soy oil producer, will soon harvest a new soy crop just as farmers in North America begin the spring planting season.
less Today we will talk about Crude oil, its price action from a technical point of view, and wave structure from the Elliott Wave perspective. Crude oil is in an impulsive rally from April 2020 Lows and in Elliott Wave theory, an impulse must consist of five waves, which looks to be unfinished.

United States

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 87 points (up 0.3%). Nasdaq Futures are trading up 89 points (up 0.7%) while Dow Futures are trading up 118 points (up 0.4%) The rupee is trading at 72.4 against the US$. BEFORE THE BELL Wall Street futures edged higher as investors awaited a reading on inflation data later in the day. Wall Street futures edged higher as investors awaited a reading on U.S. inflation data later in the day.
Should the Fed cause a tantrum, the USD is a buy and should risk assets drop due to higher real rates, the USD is a buy. A soft core PCE reading, the Fed’s preferred gauge of inflation, may also cool the bond market further. The Nasdaq composite remains inside of this 12-year rising channel, as it has created higher lows and higher highs, that started in 2009. US stock futures are trading higher today, indicating a positive opening for Wall Street.
Still, Wall Street has turned its back on the company as short interest in the company stood at roughly 10.9 million shares on March 15, according to Refinitiv data. Perhaps the Fed will truly love us forever – they certainly promised to do so this week but again – how much MORE in love can they be?


China announced retaliatory sanctions on nine British individuals and four entities for maliciously spreading lies and disinformation about its Xinjiang region. China denies the accusations and could resolve the dispute with greater transparency and allowing some international observers (e.g., UN) to enter Xinjiang. The original statement by H&M on its Xinjiang policy highlighted by, among others, the microblog account of the Communist Party Youth League, is months old.
Courtesy of Worldometers Tensions also remain high between Washington and Beijing, as President Joe Biden looks to stamp his authority on the trans-Pacific relationship. That’s particularly true because not all online criticism originally comes from Beijing itself.


The sanctions on the EU seem clumsy and puts the lauded investment agreement struck at the end of last year, after seven years of negotiating, at risk. If we were to choose between the markets and the ECB in terms of reading tea leaves, we would always err on the side of the markets. That includes the U.K., which is looking for post-Brexit ballast to its financial sector and plans to build on the final EU list. The important thing now is to get people vaccinated before the September wave kicks in, which should be doable – even for the (hopeless) EU.
For example, there has been intense lobbying from big asset managers over the planned EU “Ecolabel” for retail investment products. The surge of outrage comes days after the European Union, for the first time since Tiananmen, sanctioned China over human rights. The European Union s attempt to protect the environment by developing a complicated, wide-ranging definition of green investments has run into yet more problems.
ECB aims at equal amounts in GROSS terms per week in the PEPP. 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.
China has struck back with counter-sanctions, first on the EU, and today on the UK.