Close: London Session | Forex, Metals, Oil, Agriculture May 20, 2021



All isn‘t fine under the surface though as yet another Fed trial baloon emerges – this time, talking about talking taper, doing predictable wonders for the dollar. Today’s top-performing currencies are the aussie dollar (+0.35%) and kiwi dollar (+0.33%). The news flow for the euro and the dollar is subdued today, so all eyes will be on 10Y treasuries. Amid rising euro crosses, buyers are attempting to win back yesterday’s losses. The dollar has come back offered, falling against most of the major currencies.
Could a stronger dollar lie ahead with higher rates? The rising yield lent the dollar support. The dollar was slightly lower. The U.S. dollar was slightly lower. One thing that did help is that the euro fell, making those exports much cheaper.


To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold? Gold prices fell today in Indian markets while silver extended decline to the third straight day, tracking lackluster global cues. We look at the performance of the gold stocks vs gold and where the next key resistance levels are. Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic.
In the mid-19th century, aluminum was so rare and expensive to produce that Napoleon III served his state dinners on aluminum plates, while rank-and-file guests got gold or silver. less Gold (GLD) has been one of the best markets to trade in 2021 due to big volatility and price action respecting all techs. The rational case for bitcoin is that it will become digital gold, something I used to think unlikely and is now clearly more plausible, but still unlikely. Gold prices are trading down by 0.4% at Rs 48,474 per 10 grams.
On MCX, gold futures were down 0.3% to Rs 48,520 while silver was off 0.4% to Rs 72,073 per kg. In the previous session, gold had hit an over 3-month high of Rs 48,700 per 10 grams.


Sectoral indices ended on a mixed note with stocks in the metal sector, oil & gas sector and banking sector witnessing most of the selling pressure. “They have agreed to lift all major sanctions,” he says, including oil sanctions, petrochemical, shipping, insurance, central bank, and other banks. One of the themes we’ve been tracking here at Capitalist Exploits HQ is the looming supply crunch in oil and gas. Oil prices dropped on oversupply concerns, after diplomats said progress was made towards a deal to lift sanctions on Iran.
China on Friday declared that it will levy a consumption tax on imports of several fuel blending components, including light cycle oil (LCO), effective from Jun 12. Crude inventories in the U.S. climbed by 1.3 million barrels in the week to May 14 to 486 million barrels, compared with analysts’ expectations for a 1.6 million-barrel rise. less The oil market was up and then down because of off-again, on-again, Iranian, and Russian sanctions.
India is already licking their chops planning on resuming its purchases of that good old cheap Iranian oil. Well, it’s easy to figure out an energy crisis (or oil way above $100) will be the outcome. The IEA was born of an oil crisis, and its long-term mandate has been the security of the energy supply, i.e.

United States

Asian stock markets ended on a mixed note as investors weighed the Fed minutes that flagged the possibility of a debate on scaling back asset purchases. US market decline further, as Federal Reserve participants agreed that the US economy remained far from the central bank’s target. The latest Philadelphia Fed Business Outlook accompanies claims data at 8:30 a.m. Philly Fed Business Index for May: Expected 43.0; Prior 50.2 0830 (approx.) The Fed approach needs a refresher: (…) when the central bank‘s manual consists mostly of transitory inflation talking points and tolerance to upside overshoots.
less The Philly Fed’s Manufacturing Business Outlook Survey is a monthly report for the Third Federal Reserve District, covers eastern Pennsylvania, southern New Jersey, and Delaware.
In future quarters, HEXO should report increasing revenue from the US market and we expect this focus to play an important role in the success of the entire business. less Follow Futures on the Dow, S&P, NASDAQ and Russell 2000 point to another day of selling ahead of the US session open on Thursday.
The bulls’ attempt to push higher fizzled after the minutes from the Fed’s April monetary policy meeting came out. As I have stated, it‘s when the Fed would really move that the greenback would go up again. US stock futures are trading lower today, indicating a negative opening for Wall Street.


Li Qiushi, an English teacher in Beijing, began buying funds in September because friends and relatives were constantly discussing the topic.


The U.K. seeks to hire an outside adviser to spot post-Brexit opportunities, and Prime Minister Boris Johnson left the door open to a trade deal with Australia.Attention, trade nerds! The U.K. government is recruiting an external adviser to identify new opportunities created by leaving the European Union. David Merkel is an investment professional, and like every investment professional, he makes mistakes. On Wednesday, British Prime Minister Boris Johnson said travel should be limited to 12 destinations that were set to “green” on May 7.
Britain launched its own auction of emissions permits on Wednesday, replacing an almost identical EU program launched in 2005. David J. Merkel, CFA — 2010-present, I run my own equity asset management shop, called Aleph Investments. David Frost, the minister in charge of the U.K. s new relationship with the EU, says he has high hopes of outside input. The U.K. s stance on financial services regulation after Brexit will feed into Klarna s decision on where to go public.
The contract reserves the doses on behalf of all European Union member states, between end 2021 to 2023, the statement added. They have material overhang with the 30% app store extraction (fee) now under scrutiny in both US and EU lawsuits.