Close: London Session | Forex, Metals, Oil, Agriculture May 11, 2021



Lumber, MMT, semiconductors, the repo market, the labor market, cryptocurrencies, shipping, tech stocks, corn, monetary policy, all of it. That means mills could start processing more sugar cane into ethanol, rather than into sweetener.


Gold prices were trading flat in domestic markets in early trade today following a muted trend in international spot prices amid a rise in the dollar index. Some analysts forecast that space can become a trillion dollar market in 30 years’ time, but this is still science fiction. The US Dollar has come right back under pressure on Tuesday, despite ongoing liquidations in stocks. Note that a rise in the dollar index makes gold more expensive for other currency holders.
Once a Dollar Menu item, the price of a hashbrown right now is nearly $2. All in all, pound/dollar has good reasons to rise, but it may hesitate ahead of critical data releases. It is up against the US dollar and the Japanese yen and remains bid on every pullback. We’ve shifted a lot of our relative bets into commodities, into interest rates, into the dollar.” The dollar was weak, while gold steadied. The U.S. dollar was weak, while gold steadied.


Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 47,882 per 10 grams. Gold prices are trading down by 0.2% at Rs 47,855 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. The bond market has lifted the five-year inflation outlook to the highest since 2006, while one of the oldest hedges, gold, is holding near three-month highs.
Here are five approaches, along with their biggest risks: Ask on social media how to protect against inflation, and the answer is simple: Just buy gold. Gold, silver and miners are in a vulnerable position even though neither the technical nor fundamental reasons behind their rally changed. Not so much this year, when the price of gold has fallen as inflation doubled from 1.3% to 2.6%. While the upfront cost of carbon capture is high, it is still cheaper than some of the alternatives such as inventing hydrogen planes or emissions-free steel.
Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools. On the Multi-Commodity Exchange (MCX), June gold contracts were trading flat at Rs 47,946 for 10 grams.


Oil prices fell on fading fears of Colonial Pipeline outage and as surging coronavirus cases in India hit fuel demand. The volatility in crude oil and gasoline prices has been clearly reflected in recent years in both the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). Image Source: Unsplash The crude oil market and gasoline futures sold off on the news. Brent crude oil, the global benchmark, was last down 0.6% at $67.92 a barrel and West Texas Intermediate futures—the U.S. benchmark—were last down 0.7% at $64.49 a barrel.
less Crude oil appears to be flatlining so far this week, with prices hovering just below the 65 mark. In its report, OPEC left unchanged its forecast for global oil demand in 2021. Reports that traders are booking cargoes of gasoline from Europe are keeping futures prices calm as supply backs up on the Gulf Coast and drops on the East Coast. Oil also faced pressure because of reports that at least one Gulf Coast refiner is reducing runs because of the Colonial Pipeline hack.
The global economic reopening from the Covid pandemic continues to drive bullish energy into oil markets. Year-to-date, crude oil prices are up over 30%, with May on track to extend gains from April.

United States

less Follow Yesterday’s technology stock dump on Wall Street went viral on Tuesday, sweeping across the globe in pre-US open trading this morning. Yesterday’s technology stock dump on Wall Street went viral on Tuesday, sweeping across the globe in pre-US open trading this morning. Currently, Nasdaq futures are trading down 1.57%, S&P futures down .89% and Dow futures down .52%. Surging commodity prices have heightened inflation anxiety and investors are now asking two US-focused questions that for now remain unanswered:The NASDAQ 100 fell 2.6%.
With the Fed providing the financial backstop, investors were greatly incentivized (to put it mildly) to pyramid questionable securities atop each other until the whole unstable mass collapsed.
Roblox shares were up as much as 6.1% after the video game company s first earnings report beat Wall Street expectations. That has also forced the US government to declare a state of emergency across many east coast states. There come a time that however badly the Fed sells off the country’s future and no matter what shameless machinations ensure – – it just won’t work anymore.
Trump is still popular among Republicans, but there s really very limited evidence of his ability to determine primary results. Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more.


But coaxing consumers further out of their shells will still be a tough balancing act for Beijing as 2021 grinds on—and other growth drivers lose steam. Now that Beijing is beginning to dial back support for business—credit growth has started to slow again—it needs consumers to pick up the slack. Xinjiang review | Daqo New Energy has shortlisted global auditors for its operations amid allegations of the use of forced labor in China s Xinjiang region. Unlike governments in developed countries, Beijing focused primarily on helping businesses—rather than households—get through the pandemic.
The declines took Beijing-based Meituan’s market capitalization to the equivalent of about $195 billion.


In hindsight, the ECB communicated a dovish message to market participants but acted hawkishly. The Greens party has moved ahead of Merkel s Christian Democratic Union-led bloc in some polls ahead of elections in September. So what next for the ECB, now that inflation, according to its projections, is supposed to reach the 2% target by 2025-2026? When Chancellor Angela Merkel announced that Germany will aim to reach net-zero emissions by 2045, Frank Peter was surprised.
But then again, the ECB did not mention that it referred to gross, as opposed to net numbers. EU calls US to remove their export ban. PM Boris Johnson ruled out the possibility of another vote. Coincidence or not, it has a lot to do with what the European Central Bank (ECB) said and what it actually did. Last March, the ECB delivered a dovish statement. Ultimately, the ECB is right.