Open: New York Session | Forex, Metals, Oil, Agriculture June 09, 2021

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


“But due to the recent rally in global prices, Indian corn has become competitive in the world market. “Farmers are likely to reduce area under corn crop this year as soybeans and pulses are giving them better returns. However, total Indian corn supplies are likely to be limited by competition from other crops. “Bangladesh and SriLanka have also been taking Indian corn.


less Gold prices traded modestly higher after falling -0.37% a day ago, as weakening Treasury yields and a cheaper US Dollar boosted the appeal of the non-interest-bearing metal. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. The US Dollar Index trades flat after booking mild gains in the previous session. Gold is unable to benefit from the weaker dollar and lower interest rates.
On Wednesday, major currencies have been on the rise against the dollar during European trading. Both events have a direct influence on the Canadian dollar pairs, so that is where the price action matters. He is also Chairman of SchiffGold, his precious metals dealer, Euro Pacific Asset Management, and Euro Pacific Bank, his brokerage firm for international clients. less The EURUSD pair slipped 0.13% to 1.2173 on Tuesday, June 8, with the pair trending sideways throughout the session.
The dollar edged lower. The U.S. dollar edged lower.


As the world’s third-largest gold importer, Chinese buyers may provide medium-term support to gold prices. Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 49,073 per 10 grams. Gold prices are trading up by 0.1% at Rs 49,176 per 10 grams. Source: Bloomberg, DailyFX Rising price pressures may continue to support gold, which is widely perceived as a store of value and hedge against inflation. The gold and silver prices continue to be below their mean.
This mixed dynamic renders gold prices vulnerable to heightened volatility during and after the data. Almost everything else across the board are rising in value, yet gold and silver continue to languish. Meanwhile, silver prices are trading up by 0.2% at Rs 71,390 per kg. Commodities are well bid as well, with gold pressuring at $1,900 and the price of oil flirting with the $70 level. Further, Gold exchange traded funds (ETFs) witnessed net inflow of ₹288 crore last month, compared to ₹680 crore in April.


US gasoline stocks were up by 1.5 million bbl in the week ending May 28 to 233.9 million bbl, the EIA said. The bullish run on oil prices is underpinning the commodity linked loonie, as WTI crude oil hits $70 for the first time since 2018. An industry body also forecasted crude oil inventories to have fallen by 2.1 million bbl. Oil (OIL,BNO) and other industrial commodities are firmer, and the CRB Index closed yesterday at new six-year highs. Sectoral indices ended on a negative note with stocks in the energy sector, oil & gas sector, and realty sector witnessing most of the selling pressure.
International oil benchmark Brent crude was trading 0.65 per cent higher at $72.69 per barrel. Middle East fuel oil exports were assessed at 490,000 MT for the week ending Jun 06, 100,000 MT lower week-on-week (w-o-w). Meanwhile the prospect of Iranian oil re-entering the market faded as US Secretary of State said that sanctions on Iran were unlikely to be lifted.
Oil prices were up on signs of strong fuel demand in western economies. Oil prices are on the rise amid signs of strong demand from western economies.

United States

In US stock markets, Wall Street indices struggled to eke out closing gains as a lack of clear market catalysts kept institutional investors on the sidelines. Source: Bloomberg, DailyFX Looking ahead, traders are eyeing Thursday’s US inflation data for clues about rising price levels in the US and their ramifications for Fed monetary policy. Many of those bonds also included fine-print warnings that the companies might not fulfill their environmental pledges, according to documents reviewed by The Wall Street Journal.
Today’s Bank of Canada and tomorrow’s European Central Bank decisions are the preface of the all-important Fed meeting one week from now.
WSJ’s Aaron Back explains why the recent shake-ups in the value of bitcoin, dogecoin, ether and other cryptocurrencies may point to obstacles in mainstream acceptance. In the Fed s most recent Beige Book report, the central bank references shortage or shortages 44 times, up seven mentions from a previous decade-high total in April. 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.
Many have speculated about Treasuries, inflation scare, the Bitcoin crash, tapering Fed, or trade. UPS also said it expects to be carbon-neutral across scope 1, 2 and 3 emissions in its global operations by 2050. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.


Beijing is trying to finesse lower producer prices by cracking down on unauthorized activity, but it does not appear sufficient.


The transformation has raised concerns of “greenwashing,’’ or mislabeling funds or securities as green, and the European Union in March enacted new regulations to curb the practice. President Joe Biden will hold talks with Johnson and EU leaders on the dispute on the sidelines of this weekend s G-7 summit in southwest England. The U.S. and the EU are set to back a renewed push into investigating the origins of Covid-19 after conflicting assessments about where the outbreak started.
U.S. Gets EU Support for New Covid Origin Study A draft statement says phase 2 study should be free from interference. Meanwhile, President Joe Biden and European Union leaders are planning to commit to ending their outstanding tariff battles.