Agriculture
3 corn and soybean exporter are not projected to be great anyhow, though the poor timing of the latest dry spell could reduce potential even further. MARKET NEWS Chicago soybeans gained more ground, with the market on track for its fourth weeks of gains as dry weather in Argentina underpinned prices. Cargill’s $475 million investment in seven states comes as U.S. processors are already crushing soybeans at a record pace amid soaring demand for livestock feed.
Currencies
Trade strategy Even though the dollar index is signaling a strong dollar and the rupee has opened the session with a gap-down, the support at 73.00 still stays valid. Dollar indexThe dollar index broke out of the critical resistance of 91.00 yesterday and closed at 91.63 versus Wednesday’s close of 90.95, thereby gaining three-fourth of a per cent. Note that the precious metal is down more than 2% this week amid a hardening of US bond yields and a stronger US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to 91.67. By the end of the day, it had recouped some of its losses and ended the day at 72.83 versus preceding day’s close of 72.72 against the dollar (USD). Past & Prologue Data Watch Nigeria’s naira remained near a record low, after declining more than 7% against the dollar last week. The near-term outlook has clearly turned bullish for the dollar index and the rally is likely to be extended in the coming days.
Whatsoever, rupee bulls should be cautious and closely watch how the dollar index moves from here. The non-yielding precious metal has been struggling to compete with the US Dollar and rising longer-term Treasury rates as of late. The main upside drivers for yields and the dollar are .
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to 91.67. By the end of the day, it had recouped some of its losses and ended the day at 72.83 versus preceding day’s close of 72.72 against the dollar (USD). Past & Prologue Data Watch Nigeria’s naira remained near a record low, after declining more than 7% against the dollar last week. The near-term outlook has clearly turned bullish for the dollar index and the rally is likely to be extended in the coming days.
Whatsoever, rupee bulls should be cautious and closely watch how the dollar index moves from here. The non-yielding precious metal has been struggling to compete with the US Dollar and rising longer-term Treasury rates as of late. The main upside drivers for yields and the dollar are .
Metals
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold? When and if that happens, I think investors with exposure to gold and gold mining would be in a much better position than those without. His thoughts on gold are captured each week on a program called Gold Game Film in collaboration with Kitco News and TheStreet.com. In global markets, gold continued its downward trend with prices declining 0.2% to US$ 1,693.8 per ounce.
Amid weak global cues, gold prices suffered further losses today in domestic markets. less Over the past 24 hours, anti-fiat gold prices extended what has been the dominant downtrend since August. Nickel prices were set for their worst week in 9-1/2 years in London and plunged in Shanghai on rising battery-grade supply outlook following a major supply deal. Gold prices are trading down 0.6% at Rs 44,293 per 10 grams. Historically in times of accelerating inflation, the yellow metal has improved portfolios’ risk-adjusted returns and delivered positive returns, according to the World Gold Council (WGC).
S&P 500 futures pointed to a small drop at the open, gold held under $1,700 an ounce and Bitcoin struggled.
Amid weak global cues, gold prices suffered further losses today in domestic markets. less Over the past 24 hours, anti-fiat gold prices extended what has been the dominant downtrend since August. Nickel prices were set for their worst week in 9-1/2 years in London and plunged in Shanghai on rising battery-grade supply outlook following a major supply deal. Gold prices are trading down 0.6% at Rs 44,293 per 10 grams. Historically in times of accelerating inflation, the yellow metal has improved portfolios’ risk-adjusted returns and delivered positive returns, according to the World Gold Council (WGC).
S&P 500 futures pointed to a small drop at the open, gold held under $1,700 an ounce and Bitcoin struggled.
Oil
Gasoline stocks also rose but only by 62,000 mt to 1.33 million mt, whilst fuel oil stocks saw a slightly increase of 51,000 mt to 1.69 million mt. In contrast, gas oil inventories dipped by 64,000 mt to 2.54 million mt, and jet fuel decreased by 32,000 mt to 985,000 mt. Brent crude futures, the global oil benchmark, advanced 0.94 per cent to $67.37 per barrel. The European Brent benchmark is crucial to the global oil system as it is used to price more than half the world’s physical crude trades.
Despite broad-based risk aversion, which took the tech-heavy Nasdaq Composite over 2% lower on Thursday, growth-linked WTI crude oil prices surged 4.85%. Utilities in Japan reported severe shortages of natural gas and averted blackouts by turning back to coal, oil and other older means of power generation. NYDIG | Bitcoin for Institutions Pricing powerCrude soared after yesterday’s surprise announcement from OPEC and its allies that oil production would not be increased in April as previously expected.
In Europe the Stoxx 600 Index was 0.4% lower at 5:50 a.m. with energy companies getting a lift from the surge in oil prices.
This is why rates are likely to increase faster than after the financial crisis in 2008 and after the oil price fall in 2014. Most of Wall Street’s top banks hiked their forecasts for oil prices in the wake of the decision.
Despite broad-based risk aversion, which took the tech-heavy Nasdaq Composite over 2% lower on Thursday, growth-linked WTI crude oil prices surged 4.85%. Utilities in Japan reported severe shortages of natural gas and averted blackouts by turning back to coal, oil and other older means of power generation. NYDIG | Bitcoin for Institutions Pricing powerCrude soared after yesterday’s surprise announcement from OPEC and its allies that oil production would not be increased in April as previously expected.
In Europe the Stoxx 600 Index was 0.4% lower at 5:50 a.m. with energy companies getting a lift from the surge in oil prices.
This is why rates are likely to increase faster than after the financial crisis in 2008 and after the oil price fall in 2014. Most of Wall Street’s top banks hiked their forecasts for oil prices in the wake of the decision.
United States
Last session the US key indices Dow Jones and S&P 500 declined 1.3 per cent and 1.1 per cent respectively on the back of selling interest. Wall Street has beefed up its bond selling in anticipation of more government spending and the potential of a vaccine-boosted economic recovery later this year. Turning the market’s attention to how incoming data are shaping up relative to the Fed’s more ambitious labor-market and inflation objectives is important.
Powell Fed Chair Jerome Powell left bond investors underwhelmed by his comments on the Treasury market yesterday. Even though corrections are healthy aspects of the market, they are not super common, which is why many savvy Wall Street firms take advantage of them. This was further cemented by Fed Chair Jerome Powell, who continued to underscore the case that the central bank doesn’t appear too particularly worried about rising nominal yields. Nasdaq Futures are trading down 34 points (down 0.3%) while Dow Futures are trading down by 39 points (down 0.1%) The rupee is trading at 72.83 against the US$.
In his interview yesterday by the Wall Street Journal, Powell was given numerous opportunities to lean against the recent rise in yields and he never took the bait. This seems pretty aggressive, but the main point is, traders really aren’t sharing the Fed’s caution on growth. The Fed intervenes in some way and calms the market down.5.
Powell Fed Chair Jerome Powell left bond investors underwhelmed by his comments on the Treasury market yesterday. Even though corrections are healthy aspects of the market, they are not super common, which is why many savvy Wall Street firms take advantage of them. This was further cemented by Fed Chair Jerome Powell, who continued to underscore the case that the central bank doesn’t appear too particularly worried about rising nominal yields. Nasdaq Futures are trading down 34 points (down 0.3%) while Dow Futures are trading down by 39 points (down 0.1%) The rupee is trading at 72.83 against the US$.
In his interview yesterday by the Wall Street Journal, Powell was given numerous opportunities to lean against the recent rise in yields and he never took the bait. This seems pretty aggressive, but the main point is, traders really aren’t sharing the Fed’s caution on growth. The Fed intervenes in some way and calms the market down.5.
China
While it will be challenging for Beijing to achieve its goal, China’s plan to become a green superpower will have ripple effects around the world.
Europe
Ocasio-Cortez’s proposed $15 federal minimum wage would be much more comparable to an EU-wide minimum wage, which doesn’t exist—and for good reason. If France’s minimum wage (or higher) were imposed on Poland by EU mandate, it would inflict much more unemployment on Poland (where average wages are lower) than on France. In European Union countries that actually have a national minimum wage, it is lower than $15 an hour. While German Factory Orders beat estimates with an increase of 1.4% in January, the EU’s vaccination campaign continues at a sluggish pace.
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