Open: New York Session | Forex, Metals, Oil, Agriculture July 26, 2021

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Agriculture

When shut down entirely due to lockdown with no buyers, the Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd ventured into procurement on April 13, 2020.

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 dollar is mostly softer against the major currencies, having seen its earlier gains pared or even reversed. Dollar activity with Japan had dropped considerably – one of the first clues for brewing difficulties – beginning last December. This is the level at which the amount of silver in a silver dollar (not Silver Eagles) is worth exactly $1.00.
Still, it has only led to selective US dollar safe-haven demand; instead, traders are moving into classical risk-off hedges like JPY, CHF, and Gold. EURUSD had negative momentum into the end of last week with lower lows and lower highs. From there, we’ll look at a few interesting regional/geographic dollar distributions. The Australian dollar and Norweigan krone are the laggards. Europe s south | Europe s southern members Italy, Spain, Greece and Portugal in particular can claim the brightest collective outlook since the creation of the euro.

Metals

Throughout the twentieth century, industrial use of silver increased to the point where the consumption of silver eventually exceeded new production. There is no fundamental reason which justifies any particular ratio between gold and silver. Those fundamentals include supply deficits, a return to the 16 to 1 gold-silver ratio, increasing monetary demand for silver, etc. In the 1960s and 1970s, they were the principal fundamental justification in the case for higher silver prices.
That picture is inconsistent with the call for higher silver prices. less Expectations still abound for the long-awaited, vertical leap in silver prices. (see Gold-Silver Ratio: Debunking The Myth) Kelsey Williams has more than forty years experience in the financial services industry, including fourteen years as a full-service financial planner. It is a silver lining of the surge in used-car prices. If it hadn’t been, the silver price might be much higher than it is.
The gold-to-silver ratio that existed one hundred fifty years ago was mostly the result of political influence and appeasement.

Oil

Oil prices appear to be being dragged lower by demand concerns and are snapping a four-day advance (OIL). However, September WTI has trimmed its earlier losses, and near $71.70 is off about 0.5%.

United States

The past week didn’t have much news coming out from the Fed’s minions, who are currently incommunicado in news blackout period ahead of its July 27-28, 2021 meetings. The news blackout will lift on Wednesday, 28 July 2021, after which investors can expect the Fed’s minions to shift into overdrive and deliver a torrent of news. The US Treasury yield is off almost three basis points at 1.25%, ahead of this week’s auctions of $183 ln in coupons and a $28 bln two-year floating-rate notes.
The S&P 500 Large Cap Index and the Nasdaq Composite shook off the prior week’s weak tape to rally two percent and 2.9 percent respectively. Some of these companies attracted investment flows from hedge funds, pension funds in some provinces in Canada, and some states pension in the US. In fact, it was the other record high, that of the Fed balance sheet expanding to $8.24 trillion that was ultimately behind the push higher. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
The US 10-year real yield has fallen to a new record low of almost -1.13%. As well as published in prestigious publications, the New York Times, Wall Street Journal and The Economist, among others. Kelsey is the author of two books: INFLATION, WHAT IT IS, WHAT IT ISN’T, AND WHO’S RESPONSIBLE FOR IT and ALL HAIL THE FED!

China

Last week’s weakness in the MSCI Asia Pacific Index seemed to be partly driven by Beijing’s crackdown on some tech companies and private sector education companies. He said Beijing’s move on tutoring was a new blow to investor confidence. Investors have grown more worried about the industry’s prospects, as Beijing moves to tackle the spiraling educational costs that have helped deter many families from having more children.

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