Agriculture
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Currencies
For every shock suffered under the heavy burden of whichever GFC and recession or comparably less dollar shortage and near recession, the labor market comes out of them unrecoverable. less The recovery of the US 10-year yield, so it is flat on the week near 1.61% coupled with month-end demand, is helping the US dollar firm. The sustenance of the rally is supported by the recent improvement in foreign investment with the stabilizing US yield and drop in the dollar index.
Past & Prologue Data Watch Nigeria devalued the naira rate used for official transactions by 7.6% against the dollar as it migrates toward a single exchange-rate system. Revised and previously published changesfrom the preceding month for current-dollar personal income, and for current-dollar and chained (2012) dollar DPI and PCE, are shown below. A stronger dollar weighed on gold prices. A stronger U.S. dollar weighed on gold prices. The weak dollar pushed equities higher.
Commodities also liked the weak dollar. AMC debt due in 2026 rose to 97.17 cents on the dollar Thursday — almost par!
Past & Prologue Data Watch Nigeria devalued the naira rate used for official transactions by 7.6% against the dollar as it migrates toward a single exchange-rate system. Revised and previously published changesfrom the preceding month for current-dollar personal income, and for current-dollar and chained (2012) dollar DPI and PCE, are shown below. A stronger dollar weighed on gold prices. A stronger U.S. dollar weighed on gold prices. The weak dollar pushed equities higher.
Commodities also liked the weak dollar. AMC debt due in 2026 rose to 97.17 cents on the dollar Thursday — almost par!
Metals
Steel prices increased due to higher export orders, leading to a lower supply within the trade segment, strong global demand and high international steel and iron ore prices. “Given the challenging supply outlook and solid demand recovery, copper prices should remain structurally strong,” it said. The gold-to-silver ratio essentially indicates how many ounces of silver it takes to buy one ounce of gold. less Gold-to-Silver Ratio Says Silver Prices Could Surge The mainstream media is busy boasting about the stock market.
Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 48,421 per 10 grams. Gold prices are trading down by 0.6% at Rs 48,315 per 10 grams. When it comes to silver, there’s one ratio that investors really need to pay attention to: the gold-to-silver ratio. Industrial commodities in China, including iron ore and steel rebar, are closing the week on the upside, though copper is trading lower. Finished steel consumption last month was down 23 per cent at 6.78 million tonne compared to March.
Silver prices are already up by more than 100% since their lows in March 2020, but the upward move may not be done yet.
Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 48,421 per 10 grams. Gold prices are trading down by 0.6% at Rs 48,315 per 10 grams. When it comes to silver, there’s one ratio that investors really need to pay attention to: the gold-to-silver ratio. Industrial commodities in China, including iron ore and steel rebar, are closing the week on the upside, though copper is trading lower. Finished steel consumption last month was down 23 per cent at 6.78 million tonne compared to March.
Silver prices are already up by more than 100% since their lows in March 2020, but the upward move may not be done yet.
Oil
“Without new oil projects, it’s highly likely that oil prices would reach new highs,” he said. Canada probes forced labour claims in Malaysian palm oil, glove-making industries Canada is investigating allegations of forced labour in Malaysia’s palm oil and glove manufacturing industries, the government said. Dirty records have Oil / Oil Products , while Clean have Refined Products in this column. BEFORE THE BELL Futures for Canada’s main stock index rose as oil prices advanced on expectations of a strong rebound in global fuel demand.
After EIA’s weekly report showed that total domestic crude inventories decreased by 1.7 million bbl to 484.3 million bbl, crude prices have increased this week. If we were to break down below there, then it would send crude oil markets much lower, perhaps entering some type of massive selloff like we had seen previously. Several oil companies support an initial U.S. tax on carbon at $50 per ton, while also preempting other climate policy efforts.
Oil prices advanced on expectations of a strong rebound in global fuel demand. Oil companies have long lobbied for their own interest over the strongest climate policies.
Total SE: Shareholders in oil and gas group voted overwhelmingly in favour of rebranding the group as TotalEnergies to reflect a shift towards renewable energy.
After EIA’s weekly report showed that total domestic crude inventories decreased by 1.7 million bbl to 484.3 million bbl, crude prices have increased this week. If we were to break down below there, then it would send crude oil markets much lower, perhaps entering some type of massive selloff like we had seen previously. Several oil companies support an initial U.S. tax on carbon at $50 per ton, while also preempting other climate policy efforts.
Oil prices advanced on expectations of a strong rebound in global fuel demand. Oil companies have long lobbied for their own interest over the strongest climate policies.
Total SE: Shareholders in oil and gas group voted overwhelmingly in favour of rebranding the group as TotalEnergies to reflect a shift towards renewable energy.
United States
Euribors vs Fed tapering Tapering will happen eventually Sooner, if inflation proves more persistent; later, if inflation proves more transitory. Nasdaq Futures are trading up by 4 points (flat) while Dow Futures are trading up by 153 points (up 0.4%) The rupee is trading at 72.4 against the US$. The Fed’s DKW model estimates that the 10y inflation risk premium in TIPS is up 20bp over the last year and has turned positive. Wall Street futures rose as investors focused on U.S. personal consumption data due later in the day to gauge inflationary pressure.
The Fed’s inflation goal is 2%, though it has said it will tolerate higher readings than that for some time. Also included is an overlay of the Core PCE (less Food and Energy) price index, which is Fed’s preferred indicator for gauging inflation. The stock has 18 buy ratings and 5 hold ratings, according to Tipranks, making it one of the most loved securities on Wall Street. On top of that, the US government just released its 2022 fiscal year budget plan.
The magic of ample Fed support is making its way through the system, lifting prices in many asset classes amid still rampant speculation. US stock futures are trading higher today, indicating a positive opening for Wall Street.
The Fed’s inflation goal is 2%, though it has said it will tolerate higher readings than that for some time. Also included is an overlay of the Core PCE (less Food and Energy) price index, which is Fed’s preferred indicator for gauging inflation. The stock has 18 buy ratings and 5 hold ratings, according to Tipranks, making it one of the most loved securities on Wall Street. On top of that, the US government just released its 2022 fiscal year budget plan.
The magic of ample Fed support is making its way through the system, lifting prices in many asset classes amid still rampant speculation. US stock futures are trading higher today, indicating a positive opening for Wall Street.
Europe
High realised inflation over the coming year and even higher US inflation may prompt the ECB and markets to doubt the transitory narrative at times. In that sense, the current high inflation prints have given the ECB an opportunity to use the tailwinds pro-actively to re-anchor inflation expectations at target. In today’s interview, Ms Schnabel said that rising yields is precisely what the ECB wants to see when driven by a stronger growth outlook and rising inflation expectations.
After rising and steepening all year, EUR rates have lost a bit of steam as dovish ECB speak may have pushed a tapering decision into the autumn. On Friday President Lagarde said that the increase in inflation is temporary and that tapering is far too early to discuss. Nominal vs real 10y rates changed, EUR and USD For the ECB, it’s too early to let longer-term real rates rise. In that respect, the Strategy Review comes at a favourable time for the ECB to bank on rising inflation expectations and re-anchor them at target.
In a Reuters interview today, ECB Board member Schnabel said that the PEPP will end when inflation has been returned to its pre-crisis path. Inflation must be returned to its pre-crisis path before the ECB is ready to end the PEPP. High debt levels and huge balance sheets will make it much more difficult for the ECB to taper and to eventually hike rates.
0 After rising and steepening all year, EUR rates have lost a bit of steam as dovish ECB speak may have pushed a tapering decision into the autumn. On Friday President Lagarde said that the increase in inflation is temporary and that tapering is far too early to discuss. Nominal vs real 10y rates changed, EUR and USD For the ECB, it’s too early to let longer-term real rates rise. In that respect, the Strategy Review comes at a favourable time for the ECB to bank on rising inflation expectations and re-anchor them at target.
In a Reuters interview today, ECB Board member Schnabel said that the PEPP will end when inflation has been returned to its pre-crisis path. Inflation must be returned to its pre-crisis path before the ECB is ready to end the PEPP. High debt levels and huge balance sheets will make it much more difficult for the ECB to taper and to eventually hike rates.
