Daily Close | Forex, Metals, Oil, Agriculture March 22, 2021



It also is likely to raise the value of the dollar, which lead to a larger trade deficit, which will also lower demand. Until that happens, the central bank will remain cautious, growth will be slow and the euro should underperform other currencies.


An ounce of silver remains an ounce of silver, the only thing that changes is the price attached to it and its value as a consequence. Timing is everything, especially in a fast-moving market like the silver market, where 90% of the move comes in the last 10% of the time. Years of studying precious metals has fortified the fact that silver and gold preserve wealth in the long-term. As an asset with a value that has been so misrepresented over the years, as an affordable asset, and as silver awareness and education continues to rise.
Silver, particularly more than gold, will likely see these gains for a number of reasons. It may have been for this reason that, after his 1997 move into silver, investors shifted their attention to the undervalued metal. Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits.


But climate change hits these countries hardest, possibly inspiring them to ditch oil faster, writes Liam Denning. less The leading oil services stocks have been one of the big winning industry groups in 2021. Now comes the hangover.Big Oil needs emerging markets to supply future demand. The March East-West 380 fuel oil differential gained $4.00 to $15.75/mt, while the April contract gained $1.00 to $14.25/mt. The Vaneck Vectors Oil Services ETF (OIH) has been pulling back over the past 8 trading sessions.

United States

Additionally, the Fed in its latest meeting maintained interest rate near zero with no interest rate hikes through 2023. Markets, on the other hand, have started to get wound up about the potential that the Fed may have to begin removing that support sooner rather than later. [Download report] The Chicago Fed’s National Activity Index (CFNAI) is a monthly indicator designed to gauge overall economic activity and related inflationary pressure. The April 21 ULSD CIF NWE cargoes differential was flat from the previous close at $2.50/mt, while the May 21 differential was up $0.25 at $3.25/mt.
less The US cash market open sparked a panic rotation into big-tech (growth) and out of value (Small Caps). The April 21 ULSD CIF Med cargoes differential was down $0.50 from the previous close at $3.75/mt, while the May 21 differential was down $0.25 at $4.50/mt. Fed Chair Jay Powell indicated that he plans to keep short-term rates near zero for the immediate future.
The Chicago Fed explains: When the CFNAI-MA3 value moves below -0.70 following a period of economic expansion, there is an increasing likelihood that a recession has begun. Additionally, the Fed declined to extend a temporary capital buffer relief put in place to ease the pandemic-led stress in the funding market. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis.
According to the New York Fed’s research paper, from 2001 to 2005, the U.S. current account and fiscal balances plunged by 3 and 4 percent of GDP, respectively. But, one thing I have learned over the last 34 years is that Wall Street traders love their trading trends. As a result, the Dow Jones and S&P 500 broke their two-week winning streak while the tech-heavy Nasdaq Composite Index recorded it fourth negative week in five. UBS Group analysts in a recent note praised VW’s first mass-market model built off a dedicated EV platform, the ID.3 hatchback.
When the Fed creates money ex nihilo to monetize the federal debt, it enables America to both borrows and consumes more goods from abroad. 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 is a composite of 85 monthly indicators as explained in this background PDF file on the Chicago Fed’s website.
He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
To be sure, the Fed has made a little signal of removing support. But for Europe as a whole, new virus cases are surging compared with the US that is dropping.