Daily Close | Forex, Metals, Oil, Agriculture March 08, 2021



The US stock market has been generally firm to help support ideas of a better economy here and potentially increased demand for Cotton products. Mexican crop conditions in central and southern areas are called good with rains, but earlier dry weather might have hurt production. The demand for US Cotton has been strong even with the Coronavirus. Trends in Cotton are down with objectives of 8510 May.


The digital euro would still be a euro: like banknotes but digital. A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to financial inclusion alongside cash”. One can say that the US Dollar and the euro are already “digital”. A much stronger U.S. dollar is “likely adding pressure to oil prices,” said Ryan Fitzmaurice, commodities strategist at Rabobank. The Eurosystem will continue to ensure that you have access to euro cash across the euro area.
Tech stocks lagged behind as investors continued to question high valuations in an era of higher yields.The 10-year Treasury rate jumped toward 1.6%, while the dollar strengthened. The euro is the second most used currency and is also mostly through electronic transfers. Meanwhile, the Bloomberg Dollar Spot Index rose as much as 0.5% on Monday, reducing the appeal of commodities priced in the currency. Piggybacking on the surge in real yields, broad-based US Dollar strength stands out as a primary catalyst weighing negatively on crypto.
A digital euro would not replace cash, but rather complement it. In the United States, many voices call for a digital dollar to compete with China’s yuan. They also recommend commodity-linked assets, adding the Russian ruble to their basket of emerging-market currencies that also includes the Mexican peso, South African rand and Indian rupee. Only Taiwan’s dollar, Russia’s ruble and China’s yuan have eked out gains thus far.
Greensill backers from Credit Suisse to Softbank Group Corp. and GAM Holding Corp. signaled doubts about the debt, upending the multi-billion dollar empire. “Wait for some U.S. dollar bounce and buy dips,” he said in an interview. The US Dollar has started to firm recently and could be hurting demand.


After breaking below the head-and-shoulders pattern, gold miners would then be likely to verify this breakdown by moving back up to the neck level of the pattern. Able to ignore much of last week’s chaos, the GDX ETF’s outperformance of gold and silver signals that the tide has likely turned. This is especially the case, since silver and mining stocks tend to decline particularly strongly if the stock market is declining as well. Prior to the initial decline, miners were weak relative to gold.
Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools. Forget gold and silver for a moment. Gold slumped and Bitcoin traded above $51,000.


Recent inflationary pressures along with rising oil and other commodity prices are also weighing on the currency, he said. It’s the most serious attack on Saudi oil installations since a key processing facility and two oil fields came under fire in September 2019. The assault on a storage tank farm at the Ras Tanura terminal on Sunday was intercepted, Saudi Arabia said, and oil output appeared to be unaffected. OPEC+ has since implemented unprecedented production cuts, returning prices to pre-pandemic levels.
Surplus crude flooded into storage, swelling stockpiles to the point where U.S. futures dropped below zero. Brent crude briefly traded near $70 a barrel before pulling back.

United States

Consumer price inflation is likely to climb only moderately this year and could continue to lag behind target levels for the Fed and other central banks. Indeed, through direct community engagement, Fed officials received first-hand accounts of the benefits of tight labor markets to employment and real wages, particularly for women. But as Fed Chair Jerome Powell recently discussed in a February 2021 speech, sustaining maximum employment is likely to require more than just monetary policy.
Philadelphia Fed Chief Patrick Harker underscored this preoccupation when he noted that unemployment among black and Hispanic workers was running twice as high as that among white workers.
Demand for protection has kept the Wall Street fear gauge almost consistently over 20 since the Covid crash even as equities hit fresh highs. But weeks later, Modi says, the health situation took a turn for the better and the pandemic “seems to have stabilized in the US” and other international markets. Shares are likely to be volatile as individual traders and Wall Street try to hash out a consensus on the company’s value and future growth, a Bernstein analyst said.
But the economy was still nearly 10 million jobs short of pre-pandemic levels and Brainard spelled out the Fed’s new priorities at the Council on Foreign Relations. “From my point of view on policy, I think that’s going to take sustained accommodation from the Fed for some time,” she said. Yields on the benchmark 10-year Treasuries continued to rise, topping 1.6% at one point on Friday, and Fed policymakers cautiously hedged their positions.
Raphael Bostic, head of the Atlanta Fed, echoed the need to support the economy. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. 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.


It would be an electronic form of money issued by the Eurosystem (the ECB and national central banks) and accessible to all citizens and firms.