Close: London Session | Forex, Metals, Oil, Agriculture March 31, 2021



About 40% of the U.S. corn crop goes to producing the gasoline additive.


The dollar jumped against the yen as investors bet fiscal stimulus and aggressive vaccinations would boost the U.S. economic recovery. The U.S. dollar jumped against the yen as investors bet fiscal stimulus and aggressive vaccinations would boost the U.S. economic recovery. less The US dollar is paring its recent gains against most major and emerging market currencies today, mainly on the back of month and quarter-end position adjustments. less Gold prices plunged to their lowest level since March 8 as the U.S. dollar and Treasury yields continue to rise.
to fund his grand $2+ trillion expenditure, which implies less debt issuance, thus higher values for bonds – lower yields which are negative for the dollar. If the US funds its new spending only by issuing more debt, Treasuries may suffer a sell-off and the resulting higher yields would boost the dollar. Strengthening dollar index on the back of rising US treasury yield and the meltdown of hedge fund Archegos Capital Management further aggravated investor concerns.
With a 9.25% annual return (US Dollar) since 1998, despite Central Bank intervention, gold has been one of the best-performing assets, outperforming official inflation figures over the same period. The price reached November 5 lows, and the dollar index broke through two important resistances, paving the way for further growth. The dollar index rose close to a five-month peak and was on track to have its highest monthly gain in over four years.


In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. less Even today there is some pablum out there talking about how if inflation is good for gold it is especially good for gold miners. The one that started in early Jan. took gold over $130 lower, and the one that started in mid-Feb. took gold over $170 lower. It also drives market efficiencies by reducing price disparities and further integrate exchange eco-system with domestic industry by bringing more locally available/ recycled gold of exchange grade, he said.
PS Reddy, Managing Director & CEO, MCX, said the significant domestic refined gold delivered on the exchange will facilitate expansion of organised bullion trade in the country. 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.
However, the stimulus could also boost government bond yields and risk sentiment, which would weigh on gold. The GoldSwitzerland Division was created to facilitate the buying and storage of physical gold and silver for private investors, companies, trusts and pension funds. The current decline started at $1,754.20, so if the history is to rhyme (as it often does), gold would be likely to decline to at least $1,584 – $1,624. less A discussion with Dave Russell about the practicalities of Central Bank intervention and whether it has had any real impact on the gold price over the long term.


Oil prices fell on concerns over slow demand recovery after OPEC and its allies lowered its 2021 demand growth forecast. The renewed lockdowns and problems with vaccination could prevent the recovery of up to 1 million barrels per day (bpd) of oil demand in 2021, Rystad Energy said. The oil market reacted, and the crude oil price gained two dollars on the news, although it consolidated around the all-important $60 level. The JTC gave in and revised oil demand down to 5.6 million bpd this year from 5.9 million barrels a day.
Meanwhile, Brent crude futures, the global oil benchmark, fell 0.48 per cent to $63.83 per barrel. Oil prices also found support from strong growth in China s manufacturing activity that had sent out more signs of economic recovery. less Crude oil prices were little-changed during Wednesday’s APAC session as traders await fresh catalysts from the upcoming OPEC+ meeting. The day ahead is marked by the ADP (private payrolls) in the United States and the crude oil inventories.
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United States

less The Nasdaq 100 is all about risk appetite, as there are a lot of traders looking to get involved in these growth stocks in a low yield environment. The ECB and the Fed, the two main central banks that oversee the monetary policy in the largest economic blocs in the world, have maintained their accommodative measures. BEFORE THE BELL Wall Street futures were little changed as investors await the first look of President Joe Biden’s infrastructure plan.
Wall Street futures were little changed as investors await the first look of President Joe Biden’s infrastructure plan. Those gains that high growth stocks saw after Trump cut corporate taxes in 2017 could very well go away. After the positive CB report, the pair may remain under pressure until Friday, when the US labor market data is released. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening.
But in order to keep interest rates low, the Fed has been buying up trillions of dollars in assets—including government debt. While a broad correction did not happen by now, as I expected, the Nasdaq did enter correction territory twice since February. ANALYSTS’ RECOMMENDATION Apple Inc: UBS raises rating to buy from neutral, reflecting a stable iPhone demand and its possible entry into the automobiles market.


NASA has upset China by referring to Taiwan as a country, the latest organization to get caught in a quarrel over wording that Beijing deems politically sensitive.


ECB to look through technically higher inflation The ECB looks through most of the rise in measured inflation so far this year. The combined company would have a massive international presence (especially in the European Union) as well as more market share of Canada’s medical and recreational cannabis market. Japan and South Korea, themselves major players among container carriers and shipbuilders, joined the World Shipping Council in expressing concerns about the EU s move.
The U.K. government is considering including shipping in its new post-Brexit Emissions Trading System that launched this year. Most of it, the ECB argues – and we agree – is purely technical and will be out of the inflation readings in 2022. It is true that Article 17 of the European Union’s Financial Regulations stipulates that the European Union “may not raise loans within the framework of the budget”. Due to the uncertainty of the future of the Coronavirus Recovery Fund in the European Union, after its legitimacy was challenged in the German Constitutional Court.
: Potential US/EU sanctions against Ankara.