Open: London Session | Forex, Metals, Oil, Agriculture May 04, 2021



The good weather coupled with high prices has increased speculation in the market that farmers will end up with more corn acres than the USDA is currently predicting. High corn prices increase costs to feed livestock herds, which translates to meat inflation for consumers. All eyes in the food world are currently on America’s corn belt. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit. Representatives for Dutch Bros and TSG declined to comment.Dutch Bros, founded by brothers Dane and Travis Boersma in 1992, operates coffee shops in the western U.S.


The Indian rupee advanced by 14 paise to 73.81 against the US dollar in opening trade on Tuesday, as a positive trend in equity markets lifted investor sentiment. equity futures are marginally lower and European futures mixed following weakness among technology stocks on Wall Street on Monday, while the dollar rallied. The U.S. dollar should respond positively to these reports, but as the global recovery becomes the bigger story, demand for U.S. dollars will wane.
Strong global growth is generally more positive for high-beta currencies than safe-haven currencies like the U.S. dollar. The DXY US Dollar index pulled back alongside 10-year Treasury yield, boosting the price of precious metals. The recent weakness in the dollar is a reflection of investors getting ahead of this trading opportunity. less Kathy Lien Follow The U.S. dollar kicked off the first trading day of May with broad-based losses. The U.S. dollar kicked off the first trading day of May with broad-based losses.
The dollar rallied.Taiwan’s benchmark bore the brunt of a sell-off, shedding as much as 3.3%, after beating all other major gauges globally in April. The biggest problem for the U.S. dollar is that on its most fundamental level, the greenback is a safe-haven currency.


Other U.S. rivals, notably Arch Resources Inc., are seeking to exit the thermal coal market that supplies power plants to focus on metallurgical coal used to make steel. Prices for everything from copper to oil to timber have sky-rocketed as the world’s largest economies recovers from the pandemic, with growing signs of shortages across markets. Silver is among the precious metals that have rallied as the prospect of near-zero rates for longer boosts demand.
Silver advanced 3.73% to a two-month high. Gold surged 1.35%.


Oil’s ascent this year forms a key part of a comprehensive advance in raw materials that has also seen gains in metals and crops. Iraq, OPEC’s second-biggest producer, said prices would probably remain around $65 a barrel in the coming months. Meanwhile, international oil benchmark Brent crude was trading flat at USD 67.56 per barrel. Brent’s prompt timespread was 43 cents a barrel, compared with 32 cents about a month ago. Most-active WTI prices surged 7.5% in April following a 22% rally in the first quarter.
Oil was steady after climbing over 1%.

United States

Overnight, the US markets ended sharply higher with Dow and S&P 500 climbing 0.70 per cent and 0.3 per cent respectively. New York Fed President John Williams also said current conditions are “not nearly enough” for a shift in monetary policy stance. New York Fed President John Williams said current conditions are “not nearly enough” for a shift in the monetary policy stance. The ISM manufacturing PMI print fell short of market expectations, cooling Fed tapering fears and boosting precious metal prices.
A poorer-than-expected manufacturing reading echoed Fed Chair Jerome Powell’s dovish stance, as he reiterated that the progress of recovery has been uneven. 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. LEARN MORE U.S. equity futures retreated and Asian stocks were mixed Tuesday following weakness among the technology giants on Wall Street.
It’s our clear impression that US bonds is the hot asset class due to the steepening of the US curve. Equities on Wall Street ended on a mixed note in overnight trade.
Unheard of in the days when all Wall Street could say was “Buy”.


Germany, Italy and France are among EU countries signaling a hardening stance on Beijing.


The European Union plans to ease curbs for vaccinated travelers this summer, while states around the New York region are set to relax capacity restrictions. Quicker EU investments.