Open: New York Session | Forex, Metals, Oil, Agriculture April 14, 2021



That strategy makes sense if you think the economy is only experiencing a temporary stimulus-fueled sugar high that will revert to slow growth.


less Technical indicators of the currency pair: The euro continued to rise against the US dollar on the back of strong ZEW performance and higher yields on German Bonds. Topping today’s leader board is the New Zealand dollar (+0.75%), followed by the Australian dollar (+0.56%). Technical indicators of the currency pair: The sterling rose on Tuesday amid continuing correction in the US dollar and strong manufacturing output. Then funds reverse back out of commodities and corporate assets and into perceived safe havens like government bonds and the U.S. dollar once more.
High demand pushed yields lower, thus making the dollar less attractive. The dollar index was down after strong demand at a U.S. bond auction fueled a widespread drop in Treasury yields. Dollar bonds maturing in June yielded less than 2% on April 1, rising to over 40% now. Major currencies have been trading in positive territory against the US dollar in Asian trading. Change in fatalities per 100.000 people over the past 2 weeks as % of peak of the pandemic Could Bitcoin undermine the dollar and the United States?
However, that development is only a minor upside driver for GBP/USD, which has mostly been benefiting from dollar weakness.


I have studied the silver market for many years now, but I have never seen that kind of physical demand in the silver market in my lifetime. In the case of silver education and awareness are required because it is the best value investment in the commodity sector. The company offers broking, mutual funds, insurance, peer-to-peer lending, international stocks, gold investing and margin funding as part of its product bouquet. WallStreetSilver symbolizes the proactivity of the younger generation that understands silver and the benefits of an honest financial system and is determined to spread the word.
If we continue on this basis, going forward in 2021, there is little doubt in my mind that a silver supply squeeze will materialize. Copper ran up to a multi-year high earlier this year, and mining analysts warn of supply shortfalls in the months ahead. In a post in early February (Silver: The Family Circus Of Investments), we mentioned that Riot Blockchain had been one of our top ten names on February 1st.
S&P 500 futures pointed to a small rise at the open, the 10-year Treasury yield was at 1.638%, oil was over $61 a barrel and gold slipped. He went on Bloomberg TV that morning to tout his firm’s short of Bitcoin miner Riot Blockchain (RIOT). Meanwhile, steel, copper, cement, and other basic materials aren’t getting any cheaper.


Coming up… U.S. March import and export prices are at 8:30 a.m. Crude oil inventories are at 10:30 a.m. Oil prices rose on revised crude demand forecasts. An industry body in the US forecasted oil inventories to have fallen by 3.6 million bbls against a Reuters poll estimated of 2.9 million bbl. OPEC raised the oil demand growth forecasts for 2021 by 70,000 bpd from earlier forecasts to a total of 5.95 million bpd. BEFORE THE BELL Futures for Canada’s main stock index were up as oil prices rose on revised crude demand forecasts.
The oil cartel’s recent decision to gradually unwind production cuts to meet rising energy needs, alongside a brighter demand outlook, boosted investor confidence. The fossil-fuel industry often brings up green energy’s explicit tax incentives, while the latter will point to the longevity of special tax preferences for oil and gas. Gasoline stocks were estimated to have increased by 5.6 million bbl against the poll estimate of a build of 1.1.million bbl.
The American Petroleum Institute (API) reported a larger-than-expected draw in crude oil inventories, sending prices higher.
Oil prices rose early Wednesday, extending mild gains so far this week. The UAE was not only the largest exporter last week, it was also the largest off-taker, with 29% of loaded Middle East fuel oil volumes discharging in the country.

United States

The Nasdaq, which has more technology stocks, gained 1.1 per cent to 13,996.10.Apple rose 2.4 per cent and Microsoft gained 1 per cent. However, the Fed’s inflation gauge – riddled with questionable weightings and various adjustments – currently shows broad prices levels rising by less than 2% annually. Coinbase Global Inc: The biggest U.S. cryptocurrency exchange will list on the Nasdaq, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset.
The new hurdle for further positive data surprise is apparently now pretty high, and investors have seemingly given up fighting the Fed – for now. The US FDA recommended pausing injecting the firm’s immunizations after six cases of rare blood clots among 6.8 million people that were inoculated. He might be worrying that the US’s monetary capacity could be eroded by growing competition from, cryptocurrencies. As it turned out, inflation ran below 3%, allaying investor concerns that the Fed could taper its accommodative stance.
On February 5, 2021, CN Energy Group (CNEY), a developing activated carbon manufacturer, was listed on Nasdaq with an opening price of USD 4 per share. As well as published in prestigious publications, the New York Times, Wall Street Journal and The Economist, among others. The congestion is so bad at the US West Coast port that the port’s head told importers to expedite container pickup to alleviate congestion last month.


Beijing shamelessly breaks international obligations whenever it suits its purposes knowing Western sanctions, such as denying CCP officials travel privileges, have a little bite. At the same time, Beijing is taking more direct steps to mend ties with U.S. investors, ramping up its communication with businesses.


Next generation EU bonds face another delay, but issuance still likely to start later this year. ECB buying will be sizable still this year, but government financing needs are likely to remain large for longer than the big ECB net bond purchases. Assuming the ECB will end the Pandemic Emergency Purchase Programme (PEPP) as currently planned in March 2022 also the issuance outlook will become more challenging next year. The ECB’s purchases will not continue forever, and the issuance outlook supports somewhat higher yields and steeper curves ahead.
According to ECB statistics, the net issuance of general government debt securities totalled almost EUR 1300bn in the year to January 2021. ECB buying has naturally been the biggest absorber of the high issuance volumes, though not directly but via secondary-market purchases. Bloomberg had seen a draft of the EU’s issuance strategy regarding the NGEU, and reported that the first debt issue was planned for June.
It is worth remembering that only bonds with maturities of below 31 years are eligible for the ECB’s public-sector bond purchases. The ECB March staff forecasts see a public-sector deficit of 6.1% of GDP this year, or just over EUR 700bn, but risks are tilted towards an even larger deficit. The bonds would have maturities between 3 and 30-years, while a new EU-Bill program would be launched in September.