Open: New York Session | Forex, Metals, Oil, Agriculture January 12, 2021

A member of the National Guard plays a trumpet during a flag rai


One of the world’s largest wheat exporters, Russia aims to stabilise food prices with a grain export quota and a wheat export tax from Feb. 15 to June 30. Egypt has strategic wheat reserves sufficient for five months, cabinet says Egypt has strategic wheat reserves sufficient for five months, the cabinet said on Monday. The country has strategic vegetable oil reserves sufficient for 4.7 months, and its sugar reserves are sufficient until the end of October, the cabinet said in a statement.
The government replaced the two-month export suspension with a temporary daily limit of 30,000 tonnes of corn that can be sold into the international market. Ivory Coast, the world s top cocoa producer, is in its dry season, which runs until March. It is not just crude oil; it is also other commodities such as sugar and copper.


“US dollar index extended gains this Tuesday morning in Asian trade against major peers as the prospect of massive fiscal stimulus pushed US yields higher,” the note added. However, the dollar index indicates the potential strengthening of the dollar from here, which can weigh on the Indian currency. The dollar held four days of gains against major peers as the prospect of massive fiscal stimulus pushed U.S. yields higher. less (Video length 00:01:03) On Monday, worry around the coronavirus recovery outlook got a hold of financial markets, with stocks broadly lower and the US Dollar in demand.
But the price action has been quite mild thus far and already into Tuesday, the prevailing trends of higher stocks and a lower Dollar are back at it. Markets quiet Global stocks stabilized this morning after yesterday’s losses, with the halt in the rise of the dollar giving some room for dip-buying. FOREX: The U.S. dollar held its recent gains after a spike in U.S. Treasury yields lifted demand for the U.S. currency.
But even accounting for that, the real dollar exposure of major central banks is likely higher than it looks. In international markets, gold prices edged higher but a stronger US dollar capped gains. After adjusting for currency-market movements, Goldman Sachs notes that dollar holdings actually rose more than euro, Japanese yen, Chinese yuan or British pound holdings in the third quarter.


In the previous session, gold prices had risen 0.7% after a massive fall on Friday last week. FPR pays U.S. dollars in cash to small-scale gold miners, but a shortage of hard cash caused delays in payments most of last year. On MCX, February gold futures edged 0.03% lower to Rs 49,328 per 10 grams while silver futures declined 0.2% to Rs 65,414 per kg. Shanghai copper fell to a one-week low, hit by demand concerns amid new curbs to fight a resurgence of coronavirus cases in China, the world’s biggest metals consumer.
Amid mixed global cues, gold and silver prices in India continued their volatile ride of the year. That forced many of the miners to sell their gold to illegal buyers, industry officials say. BHP Invests in Startup Seeking to Make Emissions-Free Steel The world s biggest mining company wants to develop less-polluting ways of making steel. S&P 500 futures pointed to some green at the open, oil was at $53 a barrel and gold gained.
Gold prices are trading up 0.3% at Rs 49,465 per 10 grams. The firms asked to consider share buybacks include miner Coal India, power utility NTPC, and minerals producer NMDC.


oil companies already pump more than 50 million metric tons of carbon dioxide underground each year for enhanced oil recovery. Analysts in a Reuters poll are expecting crude inventories to fall by 2.7 million barrels, for a fifth straight week of declines. Seven analysts polled by Reuters estimated, on average, that crude stocks likely fell by 2.7 million barrels in the week to Jan. 8. Malaysian palm oil futures eased to a one-week low tracking deep losses in rival Dalian oils, and as weak partial January exports data weighed on sentiment.
Chesapeake sought protection from creditors, weighed down by $11.8 billion in debt, after a decade of aggressive borrowing to buy oil and gas properties.
Gasoline inventories are anticipated to have risen by 2.99 million bbl despite no change in refinery utilisation rates. I do believe that in 15 to 20 years, more of our income will be from carbon management than from oil and gas. The company said oil transit had resumed on Monday evening, after an disruption earlier in the day. PADD II is likely to have imported 16% less crude to 2.56 million bpd.
The Wall Street investment bank had previously predicted oil would hit $65 by year-end.

United States

This figure shows the “federal funds” interest rate, which is the interest rate targeted by the US Federal Reserve when it conducts monetary policy. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening. Paid Post There’s a reason over 2.5 million people start their day with Morning Brew the daily email that delivers the latest news from Wall Street to Silicon Valley.
Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. Nasdaq Futures are trading up by 32 points (up 0.2%) while Dow Futures are trading up by 39 points (up 0.1%). Twitter Inc., which banned Trump from its platform last week, said it has closed more than 70,000 accounts for spreading QAnon-associated conspiracy theories. US stock futures are trading higher today, indicating a positive opening for Wall Street indices.
The first figure shows the interest rate for borrowing money for a 30-year fixed-rate mortgage in the US. Interest rates have been declining for several decades, both in the US economy and around the world. But now that Twitter and Facebook have silenced President Trump and have deeply alienated large portions of their user bases, their stock prices are tumbling.


This comes in despite the current antitrust charges levied against the company by the U.S. government and European Union. While the EU is still not showing a good pace.