Open: New York Session | Forex, Metals, Oil, Agriculture April 13, 2021

Wheat, corn, lumber, copper, steel, and a host of other key inputs have all spiked higher. Commodities are also picking up: wheat, corn, silver, etc., and the Invesco Commodity Tracking Fund (DBC) is up steadily in 2021.

Image Source: Pixabay If one considers the move from negative $40 to positive $60, the hundred dollar’s move in the price of oil is the largest one ever recorded. The US dollar rose 3.7%, while Treasuries logged their worst quarter since 1980, pushing yields sharply higher. New Zealand dollar (NZD) traders will be very busy today as the Reserve Bank of New Zealand (RBNZ) delivers its rate statement and policy overview. The dollar rose, while gold prices slipped.
The U.S. dollar rose, while gold prices slipped. When the EURUSD isn’t moving, nothing is moving, so traders simply have to wait for the next thing that may spur some activity. Fundamentally, there has perhaps never been such a concerted effort at weakening the dollar. The domestic currency plunged below 75 against the US dollar on Monday to an eight-month low. For example, the EURUSD pair had a range of only forty-eight pips, hovering around the 1.19 level. Silver, EURGBP, EURUSD – markets in focus today.

This near doubling of the benchmark bond within three months is outsized by historical standards and impacted most assets including gold and silver. An active investor with a love of writing, Jeff eventually became a mining industry analyst, including 10 years as senior editor for world-renowned publication BIG GOLD. less The big story in Q1 was the sharp rise in bond yields, putting pressure on gold and silver prices. Commodities, with the exception of closely managed gold and silver prices, have been screaming higher in recent months.
The son of an award-winning gold panner, with family-owned mining claims in California, Arizona, and Nevada, Jeff has deep roots in the industry. It was gold’s worst quarterly performance since Q4-2016 and worst Q1 since 1982. S&P 500 futures indicated a move into the green at the open, the 10-year Treasury yield was at 1.693%, oil was over $60 a barrel and gold slipped. Silver has formed a possible double top close to the $30 level and now stays in a horizontal range that should determine the next movement.
Gold prices are trading up by 0.1% at Rs 46,474 per 10 grams. Both of these factors put a damper on gold and silver.

Continental expects oil production to average about 152,000 barrels of oil per day (bopd) and natural gas production to average about 935 million cubic feet per day (mmcfpd). Diamondback said it expects 2021 net oil production of 360,000 to 370,000 barrels of oil equivalent per day (boed), compared with its earlier estimate of 308,000 to 325,000 boed. I have worked in the areas of oil refining, natural gas production, synthetic fuels, ethanol production, butanol production, and various biomass to energy projects.
US crude oil inventories likely fell for the third straight week as per a Reuters poll of analysts with an average estimated fall of 2.2 million bbl. Here are the terms I considered in the graphic: The following graphic shows the change in U.S. oil production in million barrels per day (BPD) since JFK’s inauguration. The period ahead looks extremely interesting for the price of oil and oil traders. The price of oil dictates inflation expectations, and there is literally no other alternative to oil’s use at such scale.
Continental Resources Inc: The company said the Texas winter storm in February impacted its first-quarter production by about 6,000 barrels of oil equivalent per day. Meanwhile, international oil benchmark Brent crude was trading 0.49 per cent higher at $63.59 per barrel. The company also said production for second quarter is expected to be between 160,000 bopd and 165,000 bopd and natural gas production between 920 mmcfpd and 940 mmcfpd.

Wall Street futures were in red, in line with European stocks, ahead of the U.S. inflation data scheduled for release later in the day. Looking ahead, the upward trajectory remains intact for the US stock market, although some technical pullbacks are possible into the second quarter of 2021. Wall Street has responded by making Nvidia the second-most-valuable company in the chip space globally, with a market value more than 40% above that of the much larger Intel.
Kristen V. Brown Track the vaccines Months to Herd Immunity in U.S.In the U.S., the latest vaccination rate is 3.21 million doses per day, on average.
The Fed’s continued accommodative stance and better-than-expected Q1 earnings should fuel continued strength. The KBW Nasdaq Bank Index, which tracks shares of the largest lenders, is up 27% so far this year, nearly triple the gains of the S&P 500. The Fed reduced the fund’s rate to zero more than a year ago. The Dow Jones Industrial Average fell 0.2% and the Nasdaq Composite dropped 50 points or 0.4%. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
The rupee is trading at 75.05 against the US$.

Secrecy and abuse claims haunt China s solar factories in Xinjiang. Secrecy and abuse claims haunt China’s solar factories in Xinjiang. China has been accused of human rights abuses in Xinjiang, where it s targeted the Uighur population using scanning systems.

But any new rules could clash with another major EU goal: boosting its prowess in advanced technologies like AI to better compete with the U.S. and China. As seen in the European Union, join efforts do pay off, as the CO2 levels in the European Union declined in the last decade. The EU could be leaning toward answering those pleas. Deliveroo flop, Jamie Dimon threats stoke fears about London’s post-Brexit future. Armin Laschet and Markus Soeder both want to succeed Merkel when she stands down.