Open: New York Session | Forex, Metals, Oil, Agriculture March 31, 2021



Corn is Ukraine’s leading grain export and the country is forecast to supply around 24 million tonnes of corn in the 2020/21 season. It will the first time that the government collects data on private wheat stocks based on information provided by both producers and millers, Conab said. About 40% of the U.S. corn crop goes to producing the gasoline additive.


Consequently, the dollar index – a measure of the dollar against the basket of six major currencies – rallied past the important level of 93 on Tuesday. The euro and the Australian dollar were hit the hardest by the U.S. dollar’s rise. The dollar jumped against the yen as investors bet fiscal stimulus and aggressive vaccinations would boost the U.S. economic recovery. The U.S. dollar jumped against the yen as investors bet fiscal stimulus and aggressive vaccinations would boost the U.S. economic recovery.
London copper prices were set for their first monthly decline in a year as a firm U.S. dollar and a global surge in coronavirus infections stoked caution among traders. If the US funds its new spending only by issuing more debt, Treasuries may suffer a sell-off and the resulting higher yields would boost the dollar. to fund his grand $2+ trillion expenditure, which implies less debt issuance, thus higher values for bonds – lower yields which are negative for the dollar.
With U.S. stocks hitting record highs in March and the Dollar Index rising to four-month highs, asset managers will need to sell U.S. dollars to rebalance their portfolios. With a 9.25% annual return (US Dollar) since 1998, despite Central Bank intervention, gold has been one of the best-performing assets, outperforming official inflation figures over the same period. less Gold prices plunged to their lowest level since March 8 as the U.S. dollar and Treasury yields continue to rise.


Gold prices are trading down by 0.1% at Rs 43,870 per 10 grams. We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Perth and soon Dubai. Gold traded around multi-month lows under $1,700 per ounce. He is an analyst at which is a website aimed at offering quality analysis of gold prices. Spot gold is currently trading at $1,64.54 per ounce as of 0754 GMT.
However, the stimulus could also boost government bond yields and risk sentiment, which would weigh on gold. less A discussion with Dave Russell about the practicalities of Central Bank intervention and whether it has had any real impact on the gold price over the long term. OCBC Bank economist Howie Lee argued that the U.S. stimulus could be positive for gold because it will drive inflation rates. These figures suggest an acceleration of economic growth in the coming months, which would be negative for gold.
A new import regime reclassifying scrap as a “resource” came into effect last November, removing high-grade copper recyclables from the list of “solid wastes” that are now banned.


Oil prices fell on concerns over slow demand recovery after OPEC and its allies lowered its 2021 demand growth forecast. The oil market reacted, and the crude oil price gained two dollars on the news, although it consolidated around the all-important $60 level. Middle East fuel oil producers kept a tight grip on regional supplies last week as domestic transfers remained strong and regional exports fell by half. Meanwhile, Brent crude futures, the global oil benchmark, fell 0.48 per cent to $63.83 per barrel.
Oil prices also found support from strong growth in China s manufacturing activity that had sent out more signs of economic recovery. Refinitiv data shows that fuel oil exports from the region came in low last week at 425,000 MT, but this may change if additional flows emerge. The blockage threw global supply chains into disarray, threatening costly delays for firms already wrestling with COVID-19 restrictions, and nearly doubled rates for oil product tankers.
The day ahead is marked by the ADP (private payrolls) in the United States and the crude oil inventories. From 2012 to 2020, investors have bought almost $640 billion of equities issued by oil, gas and coal producers, fossil fuel- dependent utilities, pipelines and service companies.
Pouyanne told L’Express, in an interview published on Tuesday, that he was surprised by current oil prices, which he considered to be “relatively high”.

United States

The ECB and the Fed, the two main central banks that oversee the monetary policy in the largest economic blocs in the world, have maintained their accommodative measures. BEFORE THE BELL Wall Street futures were little changed as investors await the first look of President Joe Biden’s infrastructure plan. Wall Street futures were little changed as investors await the first look of President Joe Biden’s infrastructure plan. In US stock markets, Wall Street indices ended down slightly overnight, with investors selling tech-related growth shares after US Treasury yields hit a 14-month high.
Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening. ANALYSTS’ RECOMMENDATION Apple Inc: UBS raises rating to buy from neutral, reflecting a stable iPhone demand and its possible entry into the automobiles market. But in order to keep interest rates low, the Fed has been buying up trillions of dollars in assets—including government debt.
The Federal Reserve also makes sure that the US government has all the money that it wants to spend. It’s the highest total since 2000 when the Nasdaq proceeded to drop by 80% over the next few years. The greenback was aided by the US treasury yields, which saw a minor decline recently, has resumed its upward move.


NASA has upset China by referring to Taiwan as a country, the latest organization to get caught in a quarrel over wording that Beijing deems politically sensitive.


ECB to look through technically higher inflation The ECB looks through most of the rise in measured inflation so far this year. The EU has seen its shipments rise sharply in the past two years as African swine fever has decimated pig herds in China. Japan and South Korea, themselves major players among container carriers and shipbuilders, joined the World Shipping Council in expressing concerns about the EU s move. The U.K. government is considering including shipping in its new post-Brexit Emissions Trading System that launched this year.
It is true that Article 17 of the European Union’s Financial Regulations stipulates that the European Union “may not raise loans within the framework of the budget”. Most of it, the ECB argues – and we agree – is purely technical and will be out of the inflation readings in 2022. Due to the uncertainty of the future of the Coronavirus Recovery Fund in the European Union, after its legitimacy was challenged in the German Constitutional Court.