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



We must remember the Chinese came in 4 times in this month alone and purchased over 1 million tons of U.S. corn at a crack. In the overnight electronic session, the July corn is currently trading at 659 ¼ which is 1 cent higher. The next USDA corn for ethanol use is June 10th.


The monetary authority previously said the peso’s rally at the end of 2020 eliminated any surplus, as the appreciation reduced profits from its dollar-denominated reserves. Unlike Canada which remains in lockdown, many euro area nations relaxed restrictions this month. Europe’s largest carrier required a 9 billion-euro bailout to survive, while cutting back on its fleet and staffing.


This is because in the calculation of required stable funding, gold consumes 85% of available stable funding while gold liabilities contribute no available stable funding at all. An analysis of gold leasing by central banks, leading to double ownership of physical gold, is included. During bull runs, gold miners typically lead bullion and the gold miner ETF (GDX), has already broken above its 200-DMA. If gold can follow, the upside for this breakout of the bull flag is an incredible 65 on GDX and $2450 on gold.
Replacement demand for physical metal appears bound to rise, and an assessment is therefore made of available gold not tied up in jewelry and industrial uses. Gone will be roughly $600bn of paper gold[iii], while presumably some of the paper demand released will migrate to physical metal. This article delves into the consequences of the NSFR leading to the end of the London forward markets in gold and silver. Physical gold held on behalf of customers is never recorded on bank balance sheets.
The problem is particularly important for the London gold market, as described in last week’s article on this subject. As the supreme authority overseeing fiat currencies, the Bank for International Settlements, which oversees the FSB, has no love for gold. Meanwhile, gold prices managed to log their longest winning streak of 2021 with a sixth-straight win. This coincides with the 200-day moving average (DMA and red line) so gold faces a major challenge here.
As I write this, gold has just completed its third test of the top trendline. June-dated gold rose 40 cents, or 0.02%, to settle at $1,881.90 an ounce. But what about gold?


The Renewable Fuels Administration said input for blenders and refineries and the volume of gasoline to the market had a week to week and year to year increases. The debt was repaid by crude shipments through a resource-backed agreement that enables countries with limited access to capital markets to obtain loans. In turn, June-dated crude fell $1.31, or 2.1%, to settle at $62.05 per barrel, notching their third-straight drop.

United States

LEARN MORE It’s standard Wall Street procedure to make predictions about earnings for this year, or next year, or two years hence. One of Wall Street’s most venerated economists is willing to venture thoughts on S&P 500 earnings in the year 2027. Firms in Philadelphia Fed region lift projections for labor costs, pricing Source: Federal Reserve Bank of Philadelphia Note: Figures are medians. He’s credited with rebuilding the firm’s equities business after the financial crisis, honing it into Wall Street’s dominant player.
The drop continued through Wednesday morning, after which a combination of dip-buying and a benign reaction to the Fed minutes took hold. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. The Fed is also collaborating internationally in groups such as the Bank for International Settlements’ CBDC coalition. The Dow added 188 points, while the S&P 500 and Nasdaq also finished with substantial gains as FAANG names recovered.
This technology also offers new possibilities to central banks—including the Fed. 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. When (Nasdaq: TLRY) formally merged with Aphria on May 3, it was a “sell the news” event.


Crucially, EU member states will also accept proof of vaccination issued by non-European governments. All EU member states will accept visitors in possession of such passes, without asking them to quarantine. Read More: Europe to Reopen for Travel, Easing Rules for American Tourists White smoke: we have a deal on the Commission’s proposal on the EU Digital Covid Certificate.