Agriculture
MARKET NEWS U.S. wheat futures rose on Friday, supported by concerns that arctic temperatures in key growing areas could damage the dormant crop during the weekend, traders said. Money managers and hedge funds cut their bullish bet in raw sugar by 10,247 contracts for the period, bringing their net long position in the sweetener to 139,650 contracts. Britain’s wheat imports accelerate during December Britain’s wheat imports rose in December and are running at more than double last season’s pace, customs data showed on Friday.
Wheat imports for the month totalled 332,458 tonnes, up from 208,948 tonnes in November. March Chicago Board of Trade corn futures settled Friday at $5.3875/bushel, down 2.25 cents.
Wheat imports for the month totalled 332,458 tonnes, up from 208,948 tonnes in November. March Chicago Board of Trade corn futures settled Friday at $5.3875/bushel, down 2.25 cents.
Currencies
Dollar index The dollar index ended last week with a loss because of the downward pressure that it faced early on. Also, the dollar index looks weak, indicating that the dollar can remain under pressure today. The S&P 500 exploded higher at this week’s opening on the back of a lower dollar and a bullish close last Friday. The rupee strengthened by 14 paise to 72.61 against the US dollar in opening trade on Monday on the back of positive macroeconomic data and upbeat local equities.
BL Research BureauThe rupee (INR) settled 17 paise higher last week as it ended at 72.75 versus 72.92 against the dollar (USD). The theme so far in February was a lower dollar and higher equities – will it continue this week too? The dollar started the week pinned near two-week lows as traders questioned whether the recovery from the pandemic in the United States would be as fast as expected. Given the U.S. dollar’s pivotal place in the global financial system, foreign-exchange volatility is really volatility in the greenback.
At the interbank forex market, the local unit opened at 72.61 against the US dollar, registering a rise of 14 paise over its previous close. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.16 per cent to 90.33.
BL Research BureauThe rupee (INR) settled 17 paise higher last week as it ended at 72.75 versus 72.92 against the dollar (USD). The theme so far in February was a lower dollar and higher equities – will it continue this week too? The dollar started the week pinned near two-week lows as traders questioned whether the recovery from the pandemic in the United States would be as fast as expected. Given the U.S. dollar’s pivotal place in the global financial system, foreign-exchange volatility is really volatility in the greenback.
At the interbank forex market, the local unit opened at 72.61 against the US dollar, registering a rise of 14 paise over its previous close. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.16 per cent to 90.33.
Metals
Maintaining a target allocation for gold is a minority activity among central banks, though somewhat higher among gold holders. The “diversification benefits” of gold is therefore the most relevant factor for central banks in determining their institution’s gold holdings. Central Banking’s Gold for Central Banking 2020 survey questionnaire was distributed in August 2020 and received responses from 26 central banks around the world. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions.
Here is the classification and geography of the banks surveyed: What Are The Most Relevant Issues In Determining Gold Safekeeping For Central Banks? Source: Reuters Gold prices, however, remain in a downward trajectory as rising Treasury yields and reflation hopes dampen demand for the yellow metal. Platinum has largely outperformed gold since November 2020, as reflation hopes and a projected recovery in global auto sales brightened the demand outlook for the white metal.
Gold prices declined slightly on Monday as inflation expectations jumped to a six-year high and lifted the benchmark U.S. Treasury yields to their highest levels since March 2020. less Platinum prices advanced nearly 2% on Monday to hit fresh six-year highs, whereas gold prices traded flat within a bearish-biased trend. Gold prices remained weak for the third day in Indian markets today in tandem with softer global rates.
Here is the classification and geography of the banks surveyed: What Are The Most Relevant Issues In Determining Gold Safekeeping For Central Banks? Source: Reuters Gold prices, however, remain in a downward trajectory as rising Treasury yields and reflation hopes dampen demand for the yellow metal. Platinum has largely outperformed gold since November 2020, as reflation hopes and a projected recovery in global auto sales brightened the demand outlook for the white metal.
Gold prices declined slightly on Monday as inflation expectations jumped to a six-year high and lifted the benchmark U.S. Treasury yields to their highest levels since March 2020. less Platinum prices advanced nearly 2% on Monday to hit fresh six-year highs, whereas gold prices traded flat within a bearish-biased trend. Gold prices remained weak for the third day in Indian markets today in tandem with softer global rates.
Oil
To receive prices and commentary by email, browse to solutions.refinitiv.com/Commoditiesnotificationsubscriptionpage, select “Refinitiv Oil Research,” and tick “Oil Market: Daily Report – U.S. Swap Prices.” Regional Crude: US coastal grade weakens as US oil rig count goes up WTI Midland March paper strengthened 15 cents Friday to WTI swap plus $1.05/bbl. Fuel oil: GC HSFO FP jumps, loses strength to Singapore The February swap for US Gulf Coast high sulfur fuel oil jumped $1.25 Friday to $54.05/barrel at 4p Houston.
Refinitiv Oil Research & Analytics assessed the February swap for GC 0.5% fuel oil at an $18.75/bbl premium to the February GC HSFO.
Bill decided to sell all of his direct holdings in oil and gas companies in 2019, a Gates family spokesperson said in response to questions about the divestment process. Oil prices grew stronger on Monday morning trade with Brent & WTI hitting their highest levels since January 2020 and WTI crossing the $60/bbl mark. At the start of the trading week, the S&P 500, crude oil, and the USDJPY present some interesting technical setups.
If oil prices hold their ground, as we expect, we should at least get to 10.10 in the near term. Upbeat market mood supported by vaccine optimism, US stimulus hopes and rising oil prices. West Texas Sour March paper rallied 5 cents to WTI swap plus $1/bbl.
Refinitiv Oil Research & Analytics assessed the February swap for GC 0.5% fuel oil at an $18.75/bbl premium to the February GC HSFO.
Bill decided to sell all of his direct holdings in oil and gas companies in 2019, a Gates family spokesperson said in response to questions about the divestment process. Oil prices grew stronger on Monday morning trade with Brent & WTI hitting their highest levels since January 2020 and WTI crossing the $60/bbl mark. At the start of the trading week, the S&P 500, crude oil, and the USDJPY present some interesting technical setups.
If oil prices hold their ground, as we expect, we should at least get to 10.10 in the near term. Upbeat market mood supported by vaccine optimism, US stimulus hopes and rising oil prices. West Texas Sour March paper rallied 5 cents to WTI swap plus $1/bbl.
United States
Sources reported Friday winter storms will bring winter precipitation and make temperatures fall below freezing across the US over the upcoming weekend. Sources reported Friday winter storms will bring winter precipitation to the US northeast over the upcoming weekend. China, as of July 2020, accounted for 16 per cent of the global import market share and became the second-largest importer behind the US. The US accounted for 28 per cent of the global import market share.
The rally was more pronounced with the growing hopes of US stimulus, when the US president pushed his first major legislative for a $1.9 trillion Coronovirus relief plan. The Nasdaq didn’t close at a new all-time high, but it did enough to pressure the early week high with technicals all net bullish. “It’s like reading ‘Florida Man’ news headlines with a Wall Street twist,” he said. European barrels have been pulled across the Atlantic, as demand prospects were boosted with the vaccine rollout ahead of the US summer driving season.
US stock futures are trading higher today, indicating a positive opening for Wall Street. Photo: Farrah Skeiky for the Wall Street Journal Mr. Vergara, a 25-year-old security guard in Virginia, started investing four years ago after deciding he wanted to retire young.
The rally was more pronounced with the growing hopes of US stimulus, when the US president pushed his first major legislative for a $1.9 trillion Coronovirus relief plan. The Nasdaq didn’t close at a new all-time high, but it did enough to pressure the early week high with technicals all net bullish. “It’s like reading ‘Florida Man’ news headlines with a Wall Street twist,” he said. European barrels have been pulled across the Atlantic, as demand prospects were boosted with the vaccine rollout ahead of the US summer driving season.
US stock futures are trading higher today, indicating a positive opening for Wall Street. Photo: Farrah Skeiky for the Wall Street Journal Mr. Vergara, a 25-year-old security guard in Virginia, started investing four years ago after deciding he wanted to retire young.
Europe
French President Emmanuel Macron is holding talks today and tomorrow with African leaders on issues including their joint fight against Islamist militants in the Sahel region. The tender indicated shipment from main supply regions such as the European Union could take place over March 21-31 and during the whole of April.
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