Open: New York Session | Forex, Metals, Oil, Agriculture January 25, 2021



The combination of a very elevated speculative long andimproved crop conditionsin South America saw soybeans (SOYBEANMAR21) loose 7.5%,wheat (WHEATMAR21) 6% and corn (CORNMAR21) 5.8% lastweek. In December, the consensus forecast showed farmers would harvest 131.79 million tonnes of soybeans, which is Brazil’s most prized export commodity. It also covers the commodities market daily focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN & WHEAT.


The DXY US Dollar index edged lower alongside a broad “risk-on” rally in Asia-Pacific equities, but this apparently appeared failed to inspire gold traders to take risk for now. Copper prices rose, as a weaker dollar made greenback-priced metals more appealing to holders of other currencies and as investors hoped for further U.S. stimulus. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.13 per cent to 90.12.
All these gloomy headlines – coming one week after Blue Monday – all add to fresh gains for the dollar. The Japanese yen was marginally weak against the US dollar in morning trade. With some of the South American uncertainty now reduced, the focus will return to Chinese demand, the dollar, and the upcoming US planting season. But a softer dollar capped the losses of the yellow metal. With estimated issuance of close to EUR 200bn next year, the EU is set to become one of the largest Euro-area issuers, following the largest sovereigns.
Enda Curran writes that double-dip recessions are expected in Japan, the euro area and the U.K. and record cases in the U.S. are dragging on retail spending and hiring. less Today we will talk about USDCHF, its price action from a technical point of view, and wave structure from the Elliott Wave perspective.


In global markets, gold prices edged higher on optimism that US lawmakers will soon pass the massive economic stimulus to revive the world’s largest economy. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. less Gold prices fell slightly on Monday, extending a three-day decline after pulling back from key resistance at US$ 1,870 last week. in Computer Science from Ben Gurion University less On Monday, gold prices edged lower on the uncertain passage of the massive U.S. COVID-19 stimulus package.
In physical trading, the demand for gold in Singapore and China picked up last week as the Chinese New Year approaches. Output, which is not seasonally adjusted, fell for a sixth straight year last year to 83.19 million tonnes, the Japan Iron and Steel Federation said on Friday. Gold prices are trading down by 0.4% at Rs 48,960 per 10 grams. The greenback dropped by 0.1% against a basket of rival currencies that made gold less expensive for investors using other currencies.
Hopes of big US fiscal measures continue to support gold prices on the downside. Gold prices in India continued to be weak for the third day in a row.


But many proposals consist of vague promises rather than concrete measures.Take, for example, China National Offshore Oil Corp, the largest offshore oil and gas producer in China. A surprise rise in US crude oil stockpiles of 4.3 million barrels, the first since early December, was being offset by data pointing to a pickup in fuel demand. The Oil rigs (RIG-OL-USA-BHI) rose further by 2 to 289 and gas rigs (RIG-GS-USA-BHI) rose by 3 to 88, the highest since May as per data by Baker Hughes.
US shale producers have been adding further pressure by bringing online more oil and gas rigs as the WTI prices have held strong around the $52/bbl mark. Brent crude futures, the global oil benchmark, fell 0.07 per cent to $55.37 per barrel. Easing of COVID-19 related restrictions has propelled oil demand and prices, which remain stable since a late-2020 rebound from historic lows. Malaysian palm oil futures extended losses for a second session, tracking declines in rival vegetable oils on the Dalian Commodity Exchange and Chicago Board of Trade (CBOT).
Crude inventories rose by 4.4 million barrels in the week to Jan. 15, compared with analysts’ expectations for a decrease of 1.2 million barrels.
This cast doubts over the strength of global oil demand moving forward. The FTSE-100 index is dominated by banks, oil companies, miners and multinationals, and has virtually no tech.

United States

For instance, from the lows of last March through last Thursday’s new intraday all-time high of 13433.69, the Nasdaq 100 (NDX) shot up 98 percent. The deal would also be a boost for London listed companies that do business with the US. “On the global front, the focus this week will be on the US Federal Reserve monetary policy due late Wednesday evening,” Goenka said. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening. The news that caused the new record high came from Netflix (Nasdaq: NFLX). On this basis, Nasdaq looks overvalued on a scale with the bubble in China that popped in 2007, but far less so than other major bubbles. But its addition to the index, on its own, was enough to render Wall Street s estimates for five-year earnings growth more optimistic than they had ever been.
The Capital Spectator has been quoted by a range of news organizations, including The Wall Street Journal, Reuters and others. In 2008-09 the Fed intervened in a dramatic fashion, and as you will see below, that has continued up to today.


In the four months since China s President Xi Jinping pledged that the country would be carbon neutral by 2060, its climate researchers have been busy making road maps.


ECB going nowhere – receive 3y1y All spikes at the front of the curve is an opportunity to receive as we see it. It seems that the entire curve has been pushed higher by the long-end supply even if the ECB is going nowhere any time soon. At last week’s Governing Council meeting, ECB President Lagarde confirmed that the ECB will keep financing conditions favourable until inflation is expected to return to target. However, outright is more important than curve in terms of financing conditions and modest steepening for the right reasons may very well still be desirable for the ECB.
A tight range it is until the economy and inflation has recovery enough for the ECB to allow rates to gradually move higher! The UK has now vaccinated 10% of its population at a daily vaccination rate of almost five times the pace of most of the EU countries. The slow rollout of the vaccine in the EU is clearly starting to impact economic activity and the political response remains unfocused.
Macron and Biden Discuss NATO and Climate Change in First Call They underscored a wish that their countries maintain a strong relationship. As BofA s fund manager survey shows, commodities are popular again:Brexit is virtually certain to bring economic costs. By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching.