Open: London Session | Forex, Metals, Oil, Agriculture April 01, 2021



The entity has been recently incorporated in October 2020 and its objects will be changed to manufacturing, producing and dealing in sugar, chemicals including ethanol, ethyl, etc.


At the same time, a strengthening dollar has weighed on commodities priced in the currency, while the week-long blockage of the Suez Canal didn’t meaningfully restrict oil supplies. (For comparison, a euro is at present worth about $1.17 in US dollars.


With the gold price rallying, the S&P in gold terms fell slightly, leaving it just short of the post-dot-com high set at the end of September 2018. Gold Is The MeasureIt s always interesting to look at the stock market in terms of gold. If the inflation scare takes greater hold and 10-year real yields rise, gold looks at risk of a true bear market. So it shouldn t be that surprising that, with real yields rising this quarter, the gold price fell. If anything, gold seems to have fallen by more than might have been indicated by the rise in real yields.
After heavy inflows during the Covid shock to the iShares gold ETF generally known by its GLD ticker symbol, investors have started to yank cash in a big way. Bitcoin continues to be one of the remarkable stories of the age, and it would make sense if it were at the margin taking demand away from gold. Gold, unfortunately for investors, follows longer-dated bond yields:There are reasons for this.
Gold yields nothing and lasts forever, so should be treated like a zero-coupon long-duration asset. The outflows appear to have had a big impact: If we look at futures positions, we similarly see a sharp turn against gold in recent weeks.


Crude oil prices nursed overnight losses with Brent futures rebounding about 0.5 per cent to $63.03 a barrel and US. Tap TalkIn today’s meeting, OPEC and its allies including Russia are expected to keep oil output curbs in place for at least another month. Crude oil futures have retreated from highs reached in early March, as resurgent virus cases in major economies cast doubt on a quick recovery for demand. Brent futures slumped yesterday after an OPEC+ panel meeting ended without a policy recommendation, leaving all options on the table today.
of GST) from Indian Oil Adani Gas Private for laying pipeline from Thrissur Geographical Area to Ernakulam Geographical Area. OPEC+ meets, France locks down and J&J’s vaccine production hits a snag.

United States

Overnight, US stocks ended on a mixed note with the tech-heavy Nasdaq surging strongly by 1.5 per cent, even as Dow Jones Industrial Average slipped. He is also reviving the Trump administration s initial intense interest in ways to reform the tax code, and not merely cut rates. Will Covid kill Wall Street machismo?


Evergrande currently finds itself breaching all three “red line” metrics for property companies that Beijing began monitoring last year, constraining its capacity to issue more bonds.


Proposals for European-wide spending and taxing programs, along with the desire of higher-income EU countries not to pay perpetual subsidies to lower-income countries, run into these realities every day. Meanwhile Hungary, boasting the second-fastest vaccination progress in the EU after clearing Russian and Chinese vaccines ahead of its neighbors, is preparing to ease lockdowns soon. Thus, it’s interesting that the European Union continues to show large gaps in hourly labor costs.
Norway and Iceland are not part of the European Union, but they are part of a broader grouping called the European Economic Area.) Macron said he aims to reopen the economy in stages starting in mid May.