Open: New York Session | Forex, Metals, Oil, Agriculture July 22, 2021

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

Agriculture

Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.

Currencies

Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. The Norwegian krone and Australian dollar lead the majors today, while the euro and Canadian dollar are little changed. EURO, EUR/USD, EUROPEAN CENTRAL BANK (ECB), LAGARDE – TALKING POINTS: The Euro has idled even as most of its major counterparts saw violent price moves against the US Dollar. Looking ahead, traders are eyeing today’s ECB meeting for clues about the bank’s monetary guidance and its ramifications for the US Dollar.
Most union-busting tactics are illegal, but the punishment is so laughably small that it’s simply the cost of doing business for a multi-billion dollar company like Amazon (AMZN). The DXY US Dollar Index is hovering at around 3-month highs, exerting downward pressure on commodities. He is also Chairman of SchiffGold, his precious metals dealer, Euro Pacific Asset Management, and Euro Pacific Bank, his brokerage firm for international clients.
With risk sentiment stabilizing, the dollar safe-haven appeal has ebbed. The US dollar’s share rose to about 40.6%, the highest in a year. A financial professional for more than twenty years, he joined Euro Pacific in 1996 and served as its President until December 2010, when he became CEO.

Metals

less (Length 00:15:25) Jordan Roy-Byrne, Founder of The Daily Gold join Cory Fleck to share his outlook for the gold sector, mostly related to the stocks. Future acquisitions will be a lot more costly — which is to say future profits for investors in the best junior gold miners will be a lot higher. We discuss a couple of analogs to past gold market corrections, when lead by the stocks, and how investors are viewing the sector over other investment opportunities.
Under this scheme, around 2.5 lakh crore worth of steel can be manufactured over five years. Gold prices are trading down by 0.6% at Rs 47,579 per 10 grams. Remember that every day you mine gold your business gets smaller. From that perspective alone, it might soon be worth revisiting whether the U.S. Mint should continue stamping out the millions of copper-plated zinc discs it does each year. A gold mine is not like a cornfield or a bakery. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free.
Meanwhile, silver prices are trading up by 0.8% at Rs 67,149 per kg.

Oil

less Crude oil prices pulled back slightly during Thursday’s APAC session after a strong rally seen a day before. This cools market expectations for a sustained rise in fuel demand and may weigh on oil prices. Meanwhile, international oil benchmark Brent crude declined 0.40 per cent to USD 71.94 per barrel. For instance, in the 1970s the price of oil and food was rising disproportionately relative to other goods and services. Oil is firm, and the September WTI contract is building on yesterday’s 4.6% rally.
Meanwhile, the US Department of Energy (DoE) reported a 2.1-million-barrel rise in crude stockpiles for the week ending July 16th, compared to an estimated 4.5-million-barrel draw. Oil is up 4.6%. Germany and the U.S. reached a deal allowing completion of the Nord Stream 2 natural gas pipeline.

United States

It also triggered growth concerns that could lead to lower inflation expectations and may even help calm markets about the Fed’s future hikes, which could get pushed out. 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. Image source: Pixabay Investors are starting to think both ECB & Fed will help calm markets by continuing to ride on the “Dove Boat.”
After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst.
Indeed, many pundits on Wall Street now believe it will be a long time before another Chinese firm lists in New York. Since then, at least a dozen Chinese firms, including TikTok-owner ByteDance, have abandoned plans to list in the US. As well as published in prestigious publications, the New York Times, Wall Street Journal and The Economist, among others. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
The rupee is trading at 74.41 against the US$. His views have been quoted in Barron’s, the Wall Street Journal, on CNN and now on his own ingerletter.com web site.

China

However, it’s extremely likely that the sanctions imposed on Didi will be “harsher” than the $2.8 billion fine imposed on Alibaba by Beijing. Didi might be the last major Chinese IPO, as Beijing demands that domestic firms list domestically, or in Hong Kong.

Europe

This probably reflects traders’ reluctance to commit one way or another ahead of today’s monetary policy announcement from the ECB. Central bank President Christine Lagarde fanned the flames of speculation, saying that “interesting variations and changes” are to be expected. The ECB may announce that it will tolerate an inflationary rise that is expected to put price growth north of the target for some time. The ECB has already increased its inflation target to 2 percent having previously aimed just below that level and promised to be “forceful or persistent” in reaching it.
The ECB recently announced a more flexible inflation-targeting strategy so many analysts are expecting to hear news of a change in the pace or size of its asset-buying programs. Dovish expectation heading into the ECB meeting on Thursday (talk of ending of PEPP most likely delayed until the summer of 22′) explains the underperformance of EUR. Hungarian leader Viktor Orban proposed a referendum in response to EU pressure to change a controversial anti-LGBTQ law.
The fate of the Asset Purchase Programme (APP) – the ECB’s long-running version of QE – and the supplemental Pandemic Emergency Purchase Programme (PEPP) are also on the table.

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