Open: New York Session | Forex, Metals, Oil, Agriculture April 09, 2021



The steepest losses are seen in the New Zealand dollar (-0.55%) and the Australian dollar (-0.78%). That Bitcoin or the yuan or some China-backed central bank digital currency could somehow pose a threat to the dollar, with negative ramifications for the U.S. The dollar is also incredibly stable, so it’s a good unit of account for billing and borrowing anywhere in the world. Now all of that ought to be priced-in to some extent, and more good (and “unexpected”) news may be needed to propel yields – or the dollar higher.
less Gold prices climbed over the past 24 hours as the anti-fiat precious metal capitalized on weakness in the US Dollar and longer-term Treasury rates. It indicates the British currency’s weakness, which may show a steep peak in the event of a correction in the US dollar. Mozambique’s metical has shrugged off violence in the northern Cabo Delgado province to be the world’s best-performing currency versus the dollar this year, rallying 17%.
A stellar ISM non-manufacturing index and a surge in non-farm payrolls also didn’t do much to dent duration or help the dollar. If that pushes Treasury yields back higher, then gold may weaken as the US Dollar sees demand. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.09 per cent to 92.13.


Unlike defensive stocks and bonds, Bitcoin and gold are both inflation-sensitive, but gold is happiest when the world faces a downward spiral. This year also, Harry’s ex, Taylor Swift, offered Gold Rush which confusingly came after After the Gold Rush by Neil Young. How then do we explain gold s sudden fall in silver terms over the last year?The Joshi argument is that bitcoin has risen as an alternative anti-fiat asset. Gold has grown steadily more expensive relative to silver since the bizarre year of 1980 when prices of both precious metals went bonkers.
Gold and silver prices today edged lower in Indian markets after seeing a steep rise over the past few days. Gold can also have big drawdowns, but nothing like the epic losses that bitcoin periodically inflicts on its holders before rallying again. On MCX, gold futures were down 0.1% to Rs 46,793 per 10 grams while silver prices dropped 0.4% to Rs 67,240. This year Harry Styles, the heartthrob of the moment, offered Golden; half a century ago, Neil Young offered us Heart of Gold.
Gold prices for the latest contract on MCX are trading down by 0.5% today at Rs 46,628 per 10 grams. The last year has seen a spike and then a reversal for the ages:What drives the gold price, then?


Oil prices dropped, dragged down by pandemic fears altering oil demand. If this also translates into further risk aversion as the week wraps up, then crude oil prices might see some cautious selling pressure. International crude oil prices fell so much that no subsidy was required. Prices on the other side of the Atlantis saw front-month New York Harbour RBOB contracts fall by over 3.5% w-o-w as the large gasoline build drags prices down. Brent crude futures, the global oil benchmark, declined 0.09 per cent to $63.14 per barrel.
Meanwhile, crude oil prices aimed slightly higher. The subsidy is transferred to consumers by the three public-sector oil marketing companies that sell LPG cylinders. Also, fuel oil stocks showed a big draw of 288,000 mt to 1.52 million mt. Econ Oil & Energy allegedly won contracts with Eskom through the help of a then senior manager of the utility, who interfered in the tender processes. Even as he promotes clean energy and recommits America to the Paris climate accords, Biden could prove a boon for the oil industry.

United States

Wall Street futures were subdued, as a rise in bond yields weighed on richly valued technology stocks a day after the S&P 500 closed at a record high. Nasdaq Futures are trading down 23 points (down 0.2%) while Dow Futures are trading up 27 points (up 0.1%) The rupee is trading at Rs 74.82 against the US$. Quiet, for nowThe Cboe Volatility Index — known as Wall Street’s fear gauge — closed at the lowest level since February 2020 as stocks trade at record highs.
Echoing the US edge cloud market, the domain in China is also led by public cloud providers as well as CDN players.
Prices were weighed primarily by the surprise build in US inventories although have recovered as the week closes out with demand prospects from the US lending some support. At this point, the market looks likely to continue to see a lot of bullish pressure, as the Nasdaq 100 has been a huge performer as of late. Taking a look at Fed Funds Futures, the odds of one rate hike by December 2022 have dramatically shifted lower. Global Headlines Defense cut | Biden today plans to ask for $715 billion for his first Pentagon budget, a slight decrease from spending trends under Donald Trump, sources say.
By this point, Donald Trump s range (that is, his top average to his bottom average) was 7.4 percentage points, or three times Biden s movement. The Nasdaq 100 rallied significantly during the trading session on Thursday, even though the last couple of days have been rather choppy.


By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching. Moreover, several EU countries have banned the usage of AstraZeneca’s vaccines for most adults, . 100 days of Brexit: was it as bad as “project fear” warned? This in turn probably requires the ECB to see ~2% inflation (Q2? Last month, U.K antitrust authorities opened a probe into this issue, too.
Main focus: Europe, Eurozone, Germany and ECB.