Daily Close | Forex, Metals, Oil, Agriculture August 24, 2021

Stock_Market_Closed_01-740x431

Agriculture

Mexican crop conditions in central and southern areas are called good with rains, but earlier dry weather might have hurt production.

Currencies

The US dollar’s medium to long-term trends remain bearish, and any short-term rally must be capped by some strong resistance. General Comments: Futures were higher despite a stronger US Dollar as demand ideas remain strong. less The US dollar hit the resistance last week and consolidating its gains. US dollar is likely to remain with big sideways movements. The double bottom’s red neckline is only valid once the US dollar closes above it on a weekly basis.
Oil was in a heavy sell-off last week, helping the Canadian Dollar to further weaken. Similarly, the EURUSD, which is inversely proportional to the US dollar, is trading near a strong support level. However, the next move in the US dollar is likely to continue lower. Despite the fact that the EURUSD price action indicates further downside, the patterns are highly unreliable in the months of June-August.

Metals

In other words, it was anomalous and as such we should expect to see gold recover and return to the volume point of control at $1805 per ounce. less From a technical, cyclical, and fundamental viewpoint, gold is in a fabulous position for price appreciation against American fiat currency. Where next for the price of gold? That’s the first significant “green shoot” for gold since early March. Sounds like a perfect mix for gold! Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits.

Oil

As you know, inflation was surging then, but the US central bank was downplaying it, blaming the temporary effects of the first oil shock.

United States

While the US markets continue to trend higher, some of our custom indicators and modeling systems have recently warned of market weakness setting up in cross-market sectors. Over the last four years, though, the Nasdaq has crossed 10 different 1,000-point thresholds, but the gain has also only been 150%. Since then, though, the Nasdaq has been making quick work of 1,000 point thresholds. After first crossing 5,000 back in March 2000, it took 6,256 days for the Nasdaq to top 6,000.
Overall, this was a spectacular 2Y auction and one which quickly wiped away concerns that investors will step away from buying the short-end with a Fed taper on deck. Even in the midst of a global pandemic, it took the Nasdaq less than six months to get from 9,000 to 10,000. less Investing.com Follow Investor appetite for Microsoft (NASDAQ:MSFT) stock remains strong. This is well more than double the amount of capital poured into the US economy after the 2008-09 Housing Market Crash.
Investor appetite for Microsoft (NASDAQ:MSFT) stock remains strong. is seeing a surge of options activity today, ahead of its Nasdaq-100 Index (NDX) debut. 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. These factors have not gone unnoticed on Wall Street, which now regards water as an important commodity. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
The Fed has morphed into a disgusting fiat welfare office for the elite. In recent months, we covered the (NASDAQ:PHO). The rally in the Nasdaq on August 23, 2021, was quite a sight to see. You will be charged $ + tax (if applicable) for The Wall Street Journal.

0