Close: London Session | Forex, Metals, Oil, Agriculture May 19, 2021

The pre-monsoon rainfall from March-till May 4 was 28 per cent higher in the key growing regions of Karnataka, which accounts for two-thirds of India’s coffee output. In Tamil Nadu, dry weather impacted the crop.Patil said once the lockdown restrictions are relaxed, demand could come from the northern parts of the country. In recent weeks, many commodities, such as Brent crude, corn, copper, soybeans and uranium, have seen either record or multi-year highs.
Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.

The Canadian dollar is faring the best of dollar bloc. Hard to hide somewhere when even the dollar keeps tanking in line with my almost weekly calls of late (such move just helps emerging markets). Many claimed that it said something about Fed policy or about the role of the dollar, or even the US, in the world. less Gold prices inched higher on Wednesday on softer U.S. dollar and rising inflationary pressure. Most of the gains were driven by inflation expectations and a decline in the dollar index.
At the top is gold and below it is the Nasdaq, Bitcoin, the TLT Treasury bond ETF, and the US dollar index at the bottom. A little more than 20 years ago, people argued the single currency in Europe would replace the dollar. In this environment, Spivak predicted that commodity prices would remain stronger and the dollar weaker. The dollar rebounded, while gold edged lower. The U.S. dollar rebounded, while gold edged lower.

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. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. A significant part of their assets is gold, so when the price of gold rises the company becomes more valuable. The reversal in gold took place after gold moved very close to its mid-January highs and the 50% Fibonacci retracement based on the August 2020 – March 2021 decline.
Markets typically treat precious metals like gold and silver as inflation hedges. less The silver squeeze story has been making headlines for months now, but even with this increased attention, the white metal’s price remains below the US$30 per ounce level. The GoldSwitzerland Division was created to facilitate the buying and storage of physical gold and silver for private investors, companies, trusts and pension funds.
This means as the price of the shares of gold miners move higher, this ETF should move higher by about twice as much. The USD Index declined profoundly once again yesterday (May 18), and gold, silver, and mining stocks ignored this move. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.

Last night the American Petroleum Institute showed crude inventories increased by 620,000 barrels while gasoline inventories fell by 2.8 million barrels and distillate stocks fell by 2.6 million barrels. BP PLC: BP and Eni said they had entered into talks to merge their oil and gas operations in Angola to form one of Africa’s largest energy companies. Oil is also weak on the risk-off attitude that is mild and being cooked up with talk of inflation fears as well as the old covid worry excuse.
Yet at a key technical point trading point, the report took the winds out of the sales of the oil market that was in breakout mode. Oil prices tumbled as surging coronavirus cases in Asia fueled demand concerns. The U.S. oil industry’s top lobbying group, the American Petroleum Institute, endorsed setting carbon prices in March. The oil market also awaits the Energy Information Administration supply report. Some support for gasoline stems from hope of a demand recovery West of Suez, as peak summer demand approaches.
Asian refining margins for gasoline rose on Wednesday, tracking strength in US RBOB coupled with expectation of a drawdown in US gasoline inventory.
S&P 500 futures pointed to a fall of almost 1% at the open, the 10-year Treasury yield was at 1.659% and oil dropped.

BEFORE THE BELL Wall Street futures fell, along with world stocks, as markets feared that rising inflationary pressures might lead to early rise in U.S. interest rates. Wall Street futures fell, along with world stocks, as markets feared that rising inflationary pressures might lead to early rise in U.S. interest rates. The Fed minutes aren‘t likely to quell the inflationary fears when the central bank‘s manual consists mostly of transitory inflation talking points and tolerance to upside overshoots.
The overconfidence of Fed officials, economists, market mavens, and many investors is stunning, considering the unprecedented factors driving economic and market forecasts. With inflation moving higher, the risk of the Fed tapering and increasing rates comes up, and there might be less margin room. The global market was tentative ahead of the announcement of Fed minutes, this was mirrored in the domestic market, though it is not expected to be hawkish.
Donald Trump, who often took credit for strong stock market performance, must grudgingly admire the government’s synchronized and powerful boosting of equity markets. Given that scenario, equity markets typically get jittery as analysts debate whether the Fed could start raising interest rates sooner than anticipated. He predicts that the Fed will soon be forced to sharply hike rates to compensate for its “dangerous complacency” with assessing inflation risk. Nasdaq Futures are trading down by 64 points (down 0.5%) while Dow Futures are trading down by 79 points (down 0.2%).

But even in the face of an outright economic contraction, the PBOC throughout 2020 didn’t even come close to its 2009-11 stance in currency. The PBOC said that financial and payment companies cannot price products in any digital currency and cannot issue crypto tokens. The PBOC’s activities merely confirm what top officials have already said repeatedly – this is it, as good as it’s going to get. The PBOC announcement was quickly followed by a joint statement by China’s Internet Finance Association, Banking Association, and Payments and Clearing Association.
Beijing s Covid-19 shots are a new soft-power lever in Africa, Asia, Latin America, and the Middle East. This group is led by Beijing-based Bank of China and Industrial Bank.

The market went live at a time when prices in the EU’s carbon market, which the U.K. helped develop, are soaring. The EU’s carbon market, set up in 2005, has worked to reduce emissions by prompting utilities to switch from coal to gas when generating electricity. That placed U.K. prices about 7% above prices in the European Union’s carbon market, the world’s largest. ECB warns of financial stability risks amid market exuberance. Judges also rejected the EU executive’s clearance of state aid for Portuguese carrier TAP, citing “an inadequate statement of reasons” by the Commission.
The EU’s market accounted for almost 90% of trades by value. British Prime Minister Boris Johnson is refocusing attention on his leveling up agenda by unveiling plans to modernize Britain s high streets and move government officials out of London. As with existing carbon markets in the EU and California, Britain’s trading scheme will run on a cap-and-trade model. His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc.
My Bloomberg Opinion colleague Therese Raphael speaks with the veteran British diplomat Peter Ricketts about post-Brexit U.K.6.