Open: New York Session | Forex, Metals, Oil, Agriculture April 28, 2021

The Seattle-based coffee chain reported mixed results for the second quarter on Tuesday, with earnings topping analysts’ expectations and revenue missing estimates. How Atlanta Is Blazing the Trail of 15-Minute Cities We re going to need more places for coffee meet-ups in the suburbs.

The dollar rebounded as U.S. Treasury yields rose, while gold prices were in the negative territory. The U.S. dollar rebounded as Treasury yields rose, while gold prices were in the negative territory. less Gold prices fell to their lowest since April 20 on higher yields and a stronger dollar. Gold came under pressure on Tuesday and remains under pressure as US treasury yields surged higher and the US Dollar followed suit. Visa’s total payment volumes rose 11% on a constant dollar basis from a year earlier, its biggest jump since the start of the pandemic.
The DXY US Dollar index rebounded for a third day to 91.00, exerting downward pressure on gold prices. Additionally, month-end dollar demand from importers and traders looking to take profits on short positions on the US currency could also cap appreciation bias, it added. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action.
Stronger-than-expected readings may strengthen yields and the US Dollar further and weigh on precious metal prices. Meanwhile, the dollar index rose 0.1% and made the bullion more expensive for investors and traders using rival currencies.

Teck Resources Ltd: The Canadian miner reported a 246.8% jump in first-quarter adjusted profit, driven by higher copper prices as COVID-19 vaccine rollouts boosted investment demand for raw materials. Average price realized for copper rose 54% to $3.92 per pound in the first quarter, while sales stood at 67,000 tonnes compared with 73,000 tonnes a year earlier. Gold prices are trading down 0.7% at Rs 46,951 per 10 grams. Their median forecast for gold prices is $1,784 per ounce in 2021 and $1,743 in 2022.
Spot gold is currently trading at $1,769.38 per ounce as of 0828 GMT. On MCX, gold futures fell 0.3% to Rs 47,151 per 10 grams. A Reuters survey showed that gold traders and analysts lowered their forecast for gold prices. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Gold prices extended their losses to the fifth day in Indian markets amid weak global cues.
less Gold prices declined during Wednesday’s APAC trading session as traders awaited the FOMC meeting.

Gasoline stocks were estimated to have fallen by 1.2 million bbl against the poll estimate of a build of 0.5 million bbl. An industry body in the US forecasted oil inventories to have increased by 4.3 million bbls against a Reuters poll estimate of 0.7 million bbl. BEFORE THE BELL Futures for Canada’s main stock index were higher as oil prices gained on forecasts of recovery in global fuel demand. The group forecast global oil demand to grow by 6 million bpd, after falling 9.5 million bpd last year.
There were no cargos currently tracked for an arrival next week with the LR2 tanker NOLDE (9787924) currently navigating the Cape of Good Hope with diesel onboard signalling Antwerp. Oil prices gained on forecasts of recovery in global fuel demand. Global oil benchmark, Brent crude futures, rose 0.05 per cent to USD 66.45 per barrel. Crude Oil Inventories report is expected today, which may have a significant impact on the price change. Middle East fuel oil exports fell 354,000 MT week-on-week (w-o-w) and are currently assessed at 420,000 MT for the week ending Apr 25.
Under Prince Mohammed, the kingdom has been willing to lure foreign investors and cede some access to its oil assets in exchange for cash.

The company’s quarterly adjusted earnings per share fell 12% from a year earlier to $3.70, short of the $4.04 forecast by Wall Street analysts, as calculated by Refinitiv. PIMCO Markets mixedBiden’s latest spending plan, the Fed decision and a raft of earnings means there’s a lot for investors to digest. Humana Inc: The company beat Wall Street estimates for quarterly profit, benefiting from higher sales of its Medicare advantage plans for the elderly and people with disabilities.
Shipping surge | UPS s profit rose far beyond what Wall Street expected, buoyed by strong, broad sales growth as the rollout of Covid-19 vaccines helped stimulate the economy. Although the Fed is widely expected to keep its policy interest rate unchanged, expectations for an earlier withdrawal of its quantitative easing program have been rising. The adverse economic impact brought on by the third viral wavein Japan, India and Brazil may hinder the Fed from considering tightening monetary policy any time soon.
Investors believe the Fed might drop a hint about tapering monetary policy. Despite strong economic data released in the US and China recently, growth prospects appear to be uneven in other parts of the world. The Fed are unlikely to rock the boar and are expected to hold steady on policy, although any comments of tapering will be closely watched. Strong pressure on major currencies was exerted by the US fixed-income market ahead of the FOMC meeting and a speech by Fed Chair Jerome Powell.

Four years of Brexit drama end as EU lawmakers back trade deal. Carbon Offsets Come Into Focus as Part of EU Green Overhaul Europe could create a new carbon emissions-cutting market to attract billions of euros of investment. Pixabay The ECB released macroeconomic statistics on the change in assets on its balance sheet. A volatility spike can be expected at 14:00 GMT during Lagarde’s speech. Christine Lagarde is due to speak.