Daily Close | Forex, Metals, Oil, Agriculture May 19, 2021



In the overnight electronic session, the July corn is currently trading at 655 ½ which is 2 ¾ cents lower.


This stands to keep the US Dollar in demand and EUR/USD price action under fire if the risk of Fed tapering continues to gain more traction. US Dollar buying pressure came alongside a spike in Treasury bond yields with the ten-year rising over 4-basis points.


Whatever the case may be, some of the capital that recently left the crypto space has found its way into the gold and silver markets. Gold prices logged their fifth-straight win, on the other hand, as well as a fresh four-month high. As a result, June-dated gold rose $13.50 cents, or 0.7%, to settle at $1,881.30 an ounce.


The price of oil appears to have established a double-top formation following the failed attempt to test the March high ($67.98) as it snaps the opening range for May. In the overnight electronic session, the July crude oil is currently trading at 6441 which is 109 points lower. On the Crude Oil front, tomorrow is the Last Trading Day in the June contract. Weighing down the commodity was new Energy Information Administration (EIA) data, which showed an increase in U.S. crude inventories.
Oil prices closed at their lowest level in over three weeks on Wednesday. In response, June-dated crude fell $2.13, or 3.3%, to settle at $63.36 per barrel. This complements the US Weekly Gasoline Import Forecast that is emailed and posted to Eikon each Tuesday. Do not be surprised if we punch through $70 a barrel by Memorial Day.

United States

Wall Street fears the Fed will let inflation get out of control and have to crush the economy to fight it, Mohamed writes. Many on Wall Street believe that the selling is just temporary and the stock market is better off in the long term without the crypto mania. Oatly’s stock is expected to begin trading on the Nasdaq stock market Thursday under the symbol OTLY. New York s attorney general has recently turned her civil probe of Trump s businesses into a criminal one and joined forces with Manhattan DA Cyrus Vance.
After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. Both retailers beat Wall Street expectations handily on their top and bottom lines, with net income for Home Depot and Lowe’s surging 84.6% and 73.6%, respectively. Get a demo The GOP s Leadership VacuumElon Musk s tweets have at least filled the void in our lives once occupied by Donald Trump s tweets.
Because they are so worried that this economy-on-Fed-crutches since 2009 is too fragile to change messaging despite what they see real-time. Image: Bigstock Wall Street has been on a tumultuous ride lately on rising inflation. Both the S&P 500 and tech-heavy Nasdaq rose slightly from their intraday lows as well, but ultimately registered losses. For those who missed it, this is what the Fed said last Thursday: Tyler Durden (pseudonym) is the lead writer at ZeroHedge.
The Fed has reason to ignore inflation worries. Mohamed suggests the ECB might tighten policy before the Fed, just to further expose its woeful disconnection from reality. “Sentiment will change over time,” said Mr. Casalena in an interview with The Wall Street Journal. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Ever wonder why the Fed isn’t coming clean that recent CPI number was just so big? 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.
Trump: now with more legal trouble. These include (Nasdaq: CAN), (OTC: BBKCF), and (Nasdaq: MSTR).


While that ultimately lead to a complete breakdown of cryptocurrencies a few years ago, will this latest move by the PBoC result in the same?


But the ECB s latest Financial Stability Review details a host of threats that should keep hawks from squawking, Marcus Ashworth writes.