Daily Close | Forex, Metals, Oil, Agriculture February 12, 2021



In the overnight electronic session, the March corn is currently trading at 543 ½ which is 2 ½ cents higher.


The US Dollar came under pressure across the board of major currency pairs right after the disappointing sentiment report crossed market wires and could help gold aim higher. After falling by 29% versus the world’s other major currencies in the 1970s, the dollar went back to being the world’s rock-solid reserve asset in the 1980s. For example, if government spending increases by one dollar and this results in a 50 cent increase in GDP, then the government consumption multiplier is 0.5.
Amid prospects of somewhat slower growth, , pushing yields and the dollar lower. Unlike its US counterpart, the Dow Jones Index, the Euro Stoxx 50 has failed to rise back above this early 2020 high amidst the pandemic. , Chairman of the Federal Reserve, also contributed to the dollar’s downtrend.


Fueled by secular gold bulls, gold stocks enjoy long-and-strong bull markets. The gold miners’ stocks are ultimately leveraged plays on gold. So “gold stocks” is a generic term that really means precious-metals-mining stocks. Buying high when gold stocks are exciting then selling low after they’ve fallen leads to big losses. With demand soaring for high-potential trades, newer speculators and investors shouldn’t overlook the gold miners’ stocks. Their earnings really amplify changing prevailing gold levels, so their stock prices follow.
If GDX is near the bottom of its 6-month range, that is likely a good time to deploy capital in gold stocks. If you are eagerly anticipating buying gold stocks, you are probably doing it at the wrong time! General consensus after corrections is gold stocks will keep spiraling even lower. Gold, silver, and their miners’ stocks tend to move in lockstep. Gold price action may some buoyancy in response to the sentiment report release, which showed one-year inflation expectations jump to the highest level since July 2014 at 3.3%.
Gold-stock uplegs yield massive gains, which are realized near toppings to weather subsequent corrections in cash. This young current gold-stock bull isn’t much different, seeing four uplegs and corrections so far. That is still tiny by this sector’s wild standards, with the previous gold-stock bull soaring 1,664.4% higher over 10.8 years by September 2011 per the older HUI index!
Since exact bottomings and toppings are impossible to know in real-time, the goal with timing gold-stock trades is to catch the middle 2/3rds or so of those big swings. To ride gold-stock uplegs and cash out before the subsequent corrections, the mission is to buy in relatively-low then later sell out relatively-high. Over the decades I’ve executed thousands of gold-stock trades, gradually developing and honing a gold-stock trading system that has proven very successful in real-time. We realized 17 and 9 gold-stock and silver-stock trades in our newsletters during that span, averaging +81.3% and +83.6% absolute gains!
Buying in relatively-low can only happen following correction-grade gold-stock selloffs leaving this sector deeply out of favor and riddled with bearishness. Major gold-stock uplegs tend to run for around 8 months or so on average.


Dow Jones Oil & GasOver the medium to long run, oil prices are determined mainly by demand requirements and the available supply capacity. “We think that much higher oil prices are not sustainable and that oil producers will then start to increase production.” Tyler Durden (pseudonym) is the lead writer at ZeroHedge. Meanwhile, other funds that might be of interest include: Oil prices have been getting widespread attention in recent days. $61.20 $30.03 – $74.18 3.98% 0.10% The (NYSE:VDE) provides exposure to businesses that focus on the exploration and production of energy products, including oil, natural gas and coal.
Hopes around increased COVID-19 vaccine rollout and a full reopening of economies worldwide have contributed to oil’s robust winning streak in the past two weeks.
Investing.com Follow Oil prices have been getting widespread attention in recent days. But after a tumultuous 2020, the new year has seen oil win back investor confidence. Many of the oil majors, as well as other businesses in the sector, have long histories. Most readers are familiar that crude oil comes in different grades.
Similarly, WTI is also trading around last year’s levels. Meanwhile, in the U.S., crude stockpiles are at the lowest in nearly a year. As we write, the global benchmark Brent crude is shy of $61. Indeed, Iraq said OPEC+ is unlikely to change its output policy at a March meeting. Meanwhile, the U.S. benchmark, West Texas Intermediate, stands at $58.

United States

Companies could satisfy the rule by explaining why they aren’t meeting Nasdaq’s diversity target—for instance, because they have a different philosophy regarding diversity. In a review last year, Nasdaq found that more than three-quarters of its listed companies would have fallen short of the proposed requirements. Companies that don’t meet the standard would be required to justify their decision to remain listed on Nasdaq. Nasdaq’s move could have greater impact because of its ability to set rules for almost 3,000 corporations listed on its exchange.
Companies that fail to meet the requirements could be delisted, although Nasdaq executives say that is unlikely. But the US recognized the gravity of the situation and, led by Federal Reserve chairman Paul Volker, responded aggressively by jacking up interest rates to double-digit levels. Higher interest rates attracted global investment capital to the US and squeezed inflation out of the system.
The Senate has been consumed by former President Donald Trump’s trial, and talks with moderates in both parties and within the Democratic Party have moved out of the spotlight. The Senate Republicans said Nasdaq’s alternative to satisfying the quota requirement—disclosure explaining noncompliance—could still hurt companies. A spokeswoman for Mr. Brown referred to a letter the Ohio lawmaker and 15 other Senate Democrats signed last month welcoming the Nasdaq proposal. In the 1960s the US entered the expensive and divisive Vietnam War, while simultaneously creating major entitlement programs including (also very expensive) Medicare.
That’s the highest percentage of any group, and a potential warning sign for Republican Party leaders should they choose to vote to convict Trump. It used to be Wall Street insiders—analysts, economists, investment strategists and portfolio managers—who fueled bull markets by enticing the masses to hand over their money. “You wouldn’t know it from the sedate action in the averages,” but Wall Street is on “a highway to the danger zone,” CNBC’s Jim Cramer said.
The S&P and Nasdaq closed at another record high Thursday (Feb. 11), while the Dow barely retreated from its own record high.
Cloud services security provider Qualys (Nasdaq: QLYS) recently announced its fourth-quarter results that outpaced market expectations. After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. In the 1970s, monetary chaos notwithstanding, the US was actually in pretty good financial shape.
It was conducted Feb. 2-7, before Trump’s trial in the Senate for insurrection and fomenting the riots of Jan. 6 at the Capitol. The Fed Funds rate hit nearly 16% in late 1979.


Inflation is likely to remain short of the ECB’s target for an extended period of time, a likelihood that ECB policymakers have made clear. The European Central Bank (ECB) has provided a massive pandemic emergency program (PEPP) amounting to a total sum of €1,850 billion. The immunization campaign continues at full force, but Prime Minister Boris Johnson has urged further patience.