Agriculture
Coincidentally, one of those exchange traded products, the iPath Series B Bloomberg Coffee Subindex Total Return ETN (JO) was one of our system’s top ten names on Monday. The Company Starting to Break Down Fashion s Waste Problem A one-time paper pulp manufacturer has a process to recycle the polyester-cotton blends. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.
Currencies
less The US dollar is enjoying broad, even if not large, gains today following yesterday’s recovery from three-year lows against sterling and four-year lows against the Canadian dollar. Gold prices slipped from a near five-month high scaled in the previous session, while dollar rose on strong U.S. data. Gold prices slipped from a near five-month high scaled in the previous session, while U.S. dollar rose on strong U.S. data. His monetary policy suggestion is at odds with conventional economic theories, and has helped push the lira to a new record low against the dollar this morning.
Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. It also registered its best month since July 2020 in May, driven mainly by the weaker dollar and higher consumer prices in the U.S. and the UK. In an inflationary state, one’s purchasing power or the amount of goods and services that can be purchased per dollar declines as time progresses.
At around 6.38 to the U.S. dollar, the yuan is at its strongest level since 2018. less The euro initially tried to rally during the trading session on Tuesday but has failed again at the 1.2250 level. (And defaults on off-shore dollar-denominated bonds have also soared $4 billion in the first 3-months of 2021 – already half of 2020’s total).
Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. It also registered its best month since July 2020 in May, driven mainly by the weaker dollar and higher consumer prices in the U.S. and the UK. In an inflationary state, one’s purchasing power or the amount of goods and services that can be purchased per dollar declines as time progresses.
At around 6.38 to the U.S. dollar, the yuan is at its strongest level since 2018. less The euro initially tried to rally during the trading session on Tuesday but has failed again at the 1.2250 level. (And defaults on off-shore dollar-denominated bonds have also soared $4 billion in the first 3-months of 2021 – already half of 2020’s total).
Metals
Among gold ETFs, HDFC Gold ETF and SBI Gold ETF are among the top losers today. Gold prices are trading up by 0.2% at Rs 49,098 per 10 grams. Gold prices are trading up by 0.3% at Rs 49,140 per 10 grams. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Sadly, mainstream advisors still snicker whenever a client brings up gold – even though the naysayers have been wrong about gold for 20 years.
Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. In the previous session, gold had risen to over a four-month high of Rs 49,700 per 10 grams. Spot gold is currently trading at $1,898.27 per ounce as of 0801 GMT. On MCX, gold futures slipped 0.2% to Rs 49,363 per 10 grams. Gold prices in India edged lower today, tracking a downtick in global rates.
Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. In the previous session, gold had risen to over a four-month high of Rs 49,700 per 10 grams. Spot gold is currently trading at $1,898.27 per ounce as of 0801 GMT. On MCX, gold futures slipped 0.2% to Rs 49,363 per 10 grams. Gold prices in India edged lower today, tracking a downtick in global rates.
Oil
US gasoline stocks fell by 1.7 million bbl in the week ending May 21 to 232.5 million bbl, the EIA said, compared with expectations for a 614,000 bbl drop. Still, gasoline stocks could fall by 1.39 million bbl, while distillates are likely to have also eased by 1.4 million bbl. Crude rally OPEC and its allies provided an upbeat assessment of oil demand for the rest of the year as the group ratified a production increase for July. Oil edged higher, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually in addition to demand prospects.
less Crude oil prices extended higher during Wednesday morning APAC trade before pulling back slightly mid-day. Then the coronavirus pandemic struck last year, just months after Weatherford emerged from chapter 11, decimating demand for oil and gas. A Reuters poll predicted stock draws in the US with commercial crude inventories likely to have fallen by 2.11 bbl for the week ending the 28th May.
In contrast, state-controlled rivals are free to drill to meet future oil demand with scant consideration of their carbon footprint. Imperial Oil Ltd: Credit Suisse raises target price to C$45 from C$40, saying the company has outperformed all its peers by 30-36% in the last 9 months. Supply cuts have been crucial in stabilizing crude prices in the face of pandemic-induced demand fluctuations, but producers are now more optimistic.
less Crude oil prices extended higher during Wednesday morning APAC trade before pulling back slightly mid-day. Then the coronavirus pandemic struck last year, just months after Weatherford emerged from chapter 11, decimating demand for oil and gas. A Reuters poll predicted stock draws in the US with commercial crude inventories likely to have fallen by 2.11 bbl for the week ending the 28th May.
In contrast, state-controlled rivals are free to drill to meet future oil demand with scant consideration of their carbon footprint. Imperial Oil Ltd: Credit Suisse raises target price to C$45 from C$40, saying the company has outperformed all its peers by 30-36% in the last 9 months. Supply cuts have been crucial in stabilizing crude prices in the face of pandemic-induced demand fluctuations, but producers are now more optimistic.
United States
In US stock markets, Wall Street indices ended flat after data showed US manufacturing activity picked up in May as pent-up demand in a reopening economy boosted orders. Nasdaq Futures are trading down by 7 points (down 0.1%) while Dow Futures are trading flat. Revenue surged 191% year over year to about $956 million, beating the company’s own projection and Wall Street’s consensus estimate of $905 million. BEFORE THE BELL Wall Street futures were broadly flat ahead of this week’s monthly jobs and private payrolls data.
Wall Street futures were broadly flat ahead of this week’s monthly jobs and private payrolls data.
Notably, a dovish Fed, strong corporate earnings data, and an accelerated coronavirus vaccine rollout kept investors optimistic about a faster U.S. economic growth recovery. less The Nasdaq 100 fluctuated during the trading session on Tuesday as traders came back to work from the holiday weekend. US stock futures are trading lower today, indicating a negative opening for Wall Street. The ups and down of the break-even rate have come under scrutiny in recent months as investors have grown increasingly concerned about inflation.
Probably the best ‘actionable’ advice I have given this year has been to ‘not fight the Fed’ and not short the Indexes, at least so far.
Wall Street futures were broadly flat ahead of this week’s monthly jobs and private payrolls data.
Notably, a dovish Fed, strong corporate earnings data, and an accelerated coronavirus vaccine rollout kept investors optimistic about a faster U.S. economic growth recovery. less The Nasdaq 100 fluctuated during the trading session on Tuesday as traders came back to work from the holiday weekend. US stock futures are trading lower today, indicating a negative opening for Wall Street. The ups and down of the break-even rate have come under scrutiny in recent months as investors have grown increasingly concerned about inflation.
Probably the best ‘actionable’ advice I have given this year has been to ‘not fight the Fed’ and not short the Indexes, at least so far.
Europe
Füracker also criticized the ECB’s zero interest rate policy as a poison for the typical savings plan. It is higher than experts’ forecast of 1.9 and the European Central Bank’s (ECB) target of below but close to 2%. Macron s Trouble With German Pharma Alliance Initiative aimed at repatriating manufacturing of medicines and equipment. He suggested that the ECB should raise the interest rates from 0%.
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