Daily Close | Forex, Metals, Oil, Agriculture January 20, 2021



less Winter Wheat markets were mixed to a little higher, with Chicago SRW a little lower and the other markets mostly a little higher. Our ideas are that a normal crop will get planted as Rice prices compare favorably with Corn, Cotton, and Soybeans. In the overnight electronic session, the March corn is currently trading at 515 ½ which is 10 ½ cents lower.


The Canadian Dollar is spiking to session highs following the latest Bank of Canada interest rate decision. This roughly aligns with year-to-date lows, which Canadian Dollar bears might look to defend as a potential technical support level. “All these guys in the Biden group have to be careful, because I think we’ve spent a lot of our credibility when it comes to the dollar,” he said. The big question is whether ECB President Lagarde will jawbone the euro.


In the overnight electronic session, the March crude oil is currently trading at 5351 which is 53 points higher. In the overnight electronic session, the February natural gas is currently trading at 2.476 which is seven cents lower. Nalanda India Equity Fund holds 30.13 lakh shares or 2.08 per cent stake in Kirloskar Oil Engines. The stock of Kirloskar Oil Engines closed 5.4 per cent higher at ₹131.30 on the BSE. On the Crude Oil front, Last Trading Day in the February contract so all should be rolled to March positions by now.

United States

“Policy coming out of Treasury and policy coming out of the Fed is going to be the most aligned we’ve ever seen,” Mills said. Taken together, these moves suggest investors increasingly expect higher inflation, but not rate increases from the Fed, analysts said. “I’m sure we’ll see a more cordial relationship between Fed officials and the administration, particularly the president. The move — a last-minute mandate under the Trump administration — has prompted disapproval from ethanol and biodiesel producers.
Wall Street is responding to the transition with optimism, while a number ofare also contributing to the cheerful sentiment. “”What I have always seen the Fed do is respond to the political environment that is in D.C.,” he added. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. That rally ignited sentiment in other large-cap tech stocks, propelling the NASDAQ 100 (NDX) and S&P 500 (SPX) indices.
That’s the real challenge for the Fed and Biden,” Whalen said. 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.


Image Source: Unsplash No one expects the ECB to boost asset purchases, having just done so in December.