Daily Close | Forex, Metals, Oil, Agriculture January 15, 2021



The issue became more urgent after President Donald Trump tweeted in September that the EPA would allow existing pumps to also distribute E15, tagging corn belt Republican politicians. Trends in Cotton are up with objectives of 8270 and 8540 March.


A further extension of these facilities will help sustain recent improvements in global U.S. dollar funding markets by serving as an important liquidity backstop. Exxon Mobil DailyThe bullish outlook has been driven by improving oil prices as the dollar has plunged, and as the global economy begins to recover. less USD/ZAR price action edged higher today, buoyed by a decrease in demand for Emerging Market currencies along with US Dollar strength. If the dollar remains weak and global demand for oil continues to recover.
For U.S.-based investors, moves in the greenback could potentially affect security returns overseas, while emerging-market (EM) bulls typically cheer a weak U.S. dollar. However, in November, the tide began to turn, favoring EM currencies vis à vis the U.S. dollar. The falling dollar has sent the oil prices surging their highest level since February of 2020. That has resulted in yields, including the 10-year note, rising while pushing the dollar lower.
In response, the dollar turned back to its role as a safe-haven and advanced.


Serious gold down days are nearly always driven by heavy speculator selling in super-leveraged gold futures. Gold stocks’ major upleg breakout evident in GDX, which I discussed in last week’s essay written the day before Jobs Friday, stayed intact. The jobs situation tends to move gold because it affects traders’ perceptions of what the Federal Reserve might do next in terms of monetary easing. Gold-futures margins get raised when gold prices are volatile, to lower the risks of traders not being able to make good on their contract commitments.
Gold, silver, and their miners’ stocks remained in what still look like young bull-market uplegs technically. There is also a specific moving average that has provided support for gold stocks. Gold trades overnight around the world and suffered big losses before that report. But overnight in late Asian trading, while Americans were asleep, gold plunged sharply from around $1,909 to $1,885. The prior afternoon, gold ended the US trading day near $1,915.
So half of gold’s Jobs-Friday losses had already accrued well before that latest jobs data. Speculators’ gold-futures trading is gold’s dominant short-term driver. Gold drifted a bit lower in the European session, re-entering US trading at $1,882 that Friday morning. Whenever gold sees a big daily swing up or down, it is usually the result of spec gold-futures action. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free.
A week ago on Jobs Friday, gold collapsed an ugly 3.5% to $1,847! So there are much-higher odds of big gold swings in the wake of those nonfarm-payrolls numbers. Gold normally reacts to payrolls coming in significantly different than expectations. It appears Gold and GDX could test and bottom at these moving averages. Gold rebounded back up to $1,891 in that release’s immediate wake. Every $1 they deploy can have the same affect on gold as fully $18.50 bought or sold outright!


Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. The vessel immediately left the area once it realized it had been seen, according to the statement.

United States

Twitter said it is too technically difficult to copy or roll over the millions of followers from the Trump White House accounts to Biden’s official accounts. The Trump administration, however, tasked Warp Speed with both vaccine development and distribution.Incoming White House Press Secretary Jen Psaki confirmed late Friday morning that they’d ditch the name. The Trump administration has spearheaded much of the development and distribution work, shifting responsibility of getting shots into arms to state and local leaders.
Following the violence, Trump committed to a peaceful transition of power, but he has said he will not attend Biden’s swearing in.
His comments come as the Trump administration tries to smooth out a rocky rollout, and as Biden’s health team flashes warning signals that there will be no quick fix. The incoming administration will also inherit the followers of the Trump White House’s official YouTube channel. Still, Trump has a fervent base and attracted 74 million voters in the election, making it possible the hotel remains a haven for conservative visitors to Washington.
Large U.S. banks’ loans are now only about 56% of their deposits, down from around 70% before the Covid-19 pandemic, according to Fed data. “The very health of our nation is at stake.”The looming trial of outgoing President Donald Trump is set to prolong the partisan tensions of recent weeks. But Donald Trump’s post-presidency will be the first test of how the property can fare without the allure of being tied to the most powerful person in America. LEARN MORE 3:30 Share Tweet Post Email 5:02 Share Tweet Post Email The Trump International Hotel in Washington, D.C.
In contrast, the Fed sticks its head in the sand, planting seeds of inflation, and cheerfully hopes the seeds sprout. The US daily death toll advanced after surpassing the 4,000 mark, while Germany extended its lockdown amid rising mortalities and no relenting in infections. The US weather outlook calls for drier and colder weather for Texas after some big snows over the weekend. Meanwhile, China-based pet retailer is near the bottom of the Nasdaq, down 22.6% to trade at $2.09, at last check.
OWS is the Trump team’s name for their program. Wireless backhaul provider is the best performer on the Nasdaq today, up 54.3% at $4.86, after earlier hitting a nine-year high of $6.30. We know why the Trump government is defanged. A hawkish Fed would be jacking up interest rates right now. Instead, Trump is expected to depart Washington earlier that day.


China recently ratified an extradition pact with Cyprus, and the top legislative body in Beijing is set to approve a similar one with Belgium next week. The decision comes at sensitive time as the European Parliament seeks to ratify an investment deal between the European Union and Beijing.