Daily Close | Forex, Metals, Oil, Agriculture May 03, 2021



To that end, USD/JPY price action could be headed toward the 108.80-level to test nearside technical support before April lows come into focus for US Dollar bears. Over that span of time, investor focus for similar plays has moved into cryptocurrencies, creating wild topside trends that have even seemed to redefine the anti-Dollar trade for many. “We’re all focused on transitioning off dollar Libor as soon as possible,” said Thomas Pluta, global head of linear rates trading at JPMorgan.
AlphaCredit, Unifin and Mexarrend representatives declined to comment.Apart from AlphaCredit, the other four major non-bank lenders are trading above 87 cents on the dollar, despite a selloff. The US Dollar is hitting new session lows in the wake of disappointing PMI data just released by the Institute of Supply Management. less After generally trending higher in the first quarter, the dollar slumped in April. The U.S. dollar also weakened, making commodities priced in the currency more attractive.
Yet, we expect the dollar to perform better in May and for yields to rise. It’s the few-hundred-dollar decline that’s likely to follow that really makes the difference.


After an incredible surge through last summer that saw gold prices move to an all-time-high, prices began to pullback in early-August, and that’s pretty much continued since. Case in point, on the day that gold prices topped, Aug. 7 of last year, Bitcoin (BITCOMP) prices were still below $12,000. With a triple-top in gold’s stochastic oscillator akin to three warning signs of a breakdown, the yellow metal is still recovering from last week’s crisis of confidence.
less It’s been a long eight months for gold bulls, but over the next month, their wait may (or may not) be validated. But take a step back on gold and there’s still a bullish argument, particularly from the longer-term vantage point. As a result, it’s become increasingly clear that gold’s recent strength was nothing more than a short-term upswing within a medium-term downtrend. When gold soared above $2,000, almost nobody thought that it would decline back below its 2011 highs. “In addition, it seems that gold is moving in a way that’s somewhat similar to what we saw between mid-April 2020 and mid-June 2020.
Gold below $1,500 seems unthinkable now, but with rallying long-term rates and soaring USD Index, it could really happen.” There is nothing left for gold and its acquaintances than to run through the forest. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.


A deal would potentially lead to Washington easing sanctions on Iranian crude exports, though U.S. officials said a deal isn’t close yet. Bullish call options that would benefit a buyer if Brent futures for December settlement top $100 a barrel have traded over 10,000 times over the past two days. OPEC, of which Iraq is the second-biggest producer, will continue trying to keep prices “within normal averages,” he told reporters in Baghdad on Monday.

United States

Last year, the Fed issued a proposal for a strengthened, modernized CRA framework, with the objective of building broad support among both external stakeholders and participating agencies. Using our monetary policy tools, the Fed promotes maximum employment and price stability—two foundations of a strong, stable economy that can improve economic outcomes for all Americans. The Wall Street firm estimated a 19% rebound in S&P 500 companies’ cash use this year, up from 10% growth previously forecast.
He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. The consensus at the Fed will begin fraying and some regional Fed presidents favor talking about tapering soon. Last April, for instance, the Fed expanded the Paycheck Protection Program Liquidity Facility in order to broaden its reach to include some nondepository lenders. Still, both the top line and the bottom line were below Wall Street’s higher expectations.
He is a featured expert on CNBC, Bloomberg, and The Wall Street Journal, as well as other top-tier publications.
Four cloud stocks that Wall Street analysts believe will surge by more than 20% are Twilio Inc. (TWLO), DocuSign, Inc. (DOCU), Splunk Inc. (SPLK), and Zscaler, Inc. (ZS). Because the Republican Party has become the Trump Party, the personal attacks will likely continue. The Fed can contribute as well.


In France, the shift is to the right, and although the national election is not until next year, polls showing Le Pen ahead of Macron have made the news. A European Union plan to ease restrictions for vaccinated travelers over the summer travel season is boosting sentiment. The increase in ECB bond purchases starting in March will be reassessed at the June meeting. Still, barring a new negative shock, the ECB will likely slow the pace of its purchases. In some ways, it will serve as a referendum on the government’s handling of the pandemic and Brexit.
A majority of Scottish voters wanted to remain in the EU and the First Minister Sturgeon was credited with the handling of COVID-19. It is difficult to consider the counter-factual; where yields would be if the ECB had not accelerated its bond-buying under the Pandemic Emergency Purchase Program. Neither the Federal Reserve nor the ECB meets in May, but the June meetings will be important.