Agriculture
Mish on Coffee and Sugar Exchange less SPX Monitoring purposes; Sold long 4/9/21 SPX at 4128.80= gain 6.16%; Long SPX on 3/24/21 at 3889.14 (SPX).
Currencies
Today’s top-performing currencies are the aussie dollar (+0.35%) and kiwi dollar (+0.33%). At the same time, anticipated dollar inflows and improving India pandemic situation could cap the depreciation bias, Reliance Securities said in a research note. Choppy local equities, weak Asian currencies and a stronger dollar will weigh on the local unit. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 per cent to 90.13. The news flow for the euro and the dollar is subdued today, so all eyes will be on 10Y treasuries. Yes, I know, there is increased spending due to the coronavirus now, but trillion-plus dollar deficits have become the norm in recent years, not an exception. Unbridled quantitative easing has further amplified inflation worries and global doubts about the stability of the dollar.
Since the advent of the Federal Reserve, the purchasing power of the dollar has dropped by over 96 percent (i.e., $1 today is the equivalent of $26.14 in 1913). “The US dollar index was marginally weaker this Thursday morning in Asian trade.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 per cent to 90.13. The news flow for the euro and the dollar is subdued today, so all eyes will be on 10Y treasuries. Yes, I know, there is increased spending due to the coronavirus now, but trillion-plus dollar deficits have become the norm in recent years, not an exception. Unbridled quantitative easing has further amplified inflation worries and global doubts about the stability of the dollar.
Since the advent of the Federal Reserve, the purchasing power of the dollar has dropped by over 96 percent (i.e., $1 today is the equivalent of $26.14 in 1913). “The US dollar index was marginally weaker this Thursday morning in Asian trade.
Metals
Among gold ETFs, Kotak Gold ETF and HDFC Gold ETF are among the top gainers today. To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold? Also, it’s not just gold that should appreciate notably from here, but the broader gold, silver, and gold/silver mining (“GSM”) space should do well. We look at the performance of the gold stocks vs gold and where the next key resistance levels are. Gold prices fell today in Indian markets while silver extended decline to the third straight day, tracking lackluster global cues.
Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. Gold prices are trading down by 0.3% at Rs 48,528 per 10 grams. Gold prices are trading down by 0.4% at Rs 48,474 per 10 grams. The minutes to the Fed meeting revealed that members are ready to start the tapering debate in coming meetings, which sent yields and the USD higher dragging on gold.
In the mid-19th century, aluminum was so rare and expensive to produce that Napoleon III served his state dinners on aluminum plates, while rank-and-file guests got gold or silver.
Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. Gold prices are trading down by 0.3% at Rs 48,528 per 10 grams. Gold prices are trading down by 0.4% at Rs 48,474 per 10 grams. The minutes to the Fed meeting revealed that members are ready to start the tapering debate in coming meetings, which sent yields and the USD higher dragging on gold.
In the mid-19th century, aluminum was so rare and expensive to produce that Napoleon III served his state dinners on aluminum plates, while rank-and-file guests got gold or silver.
Oil
Gasoline stockpiles fell by 2 million bbl in the week to 234.2 million bbl, compared to the poll estimate of 886,000 bbl drop. US crude oil inventories rose by 1.3 million bbl last week against analysts expectations of a 1.6 million bbl rise. Crude inventories in the U.S. climbed by 1.3 million barrels in the week to May 14 to 486 million barrels, compared with analysts’ expectations for a 1.6 million-barrel rise. less Crude oil prices fell as investors’ mood broadly soured across global financial markets yesterday.
Global oil benchmark Brent crude futures rose 0.24 per cent to $66.82 per barrel. Oil prices dropped on oversupply concerns, after diplomats said progress was made towards a deal to lift sanctions on Iran. Rising commodity prices could help lift heavyweight resource stocks & oil majors. That bodes ill for crude oil prices. Refinery crude runs rose by 96,000 bpd, thereby taking the utilization rates up by 0.2% for the week to 86.3%. The IEA was born of an oil crisis, and its long-term mandate has been the security of the energy supply, i.e.
Global oil benchmark Brent crude futures rose 0.24 per cent to $66.82 per barrel. Oil prices dropped on oversupply concerns, after diplomats said progress was made towards a deal to lift sanctions on Iran. Rising commodity prices could help lift heavyweight resource stocks & oil majors. That bodes ill for crude oil prices. Refinery crude runs rose by 96,000 bpd, thereby taking the utilization rates up by 0.2% for the week to 86.3%. The IEA was born of an oil crisis, and its long-term mandate has been the security of the energy supply, i.e.
United States
less Asian share markets are trading on a cautious note today as investors weighed the Fed minutes that flagged the possibility of a debate on scaling back asset purchases. The debt image is grim, and we can see that the U.S. debt is moving up simultaneously with the Fed’s balance sheet and the monetary base. Like the Fed’s balance sheet, we see that the monetary base was between $800-900 billion in 2007 and early 2008. US market decline further, as Federal Reserve participants agreed that the US economy remained far from the central bank’s target.
Source: fred.stlouisfed.gov Here’s what the Fed’s balance sheet expansion is doing to the U.S.’s monetary base.
The bulls’ attempt to push higher fizzled after the minutes from the Fed’s April monetary policy meeting came out. The Fed has expanded its balance sheet notably ever since quantitative easing (“QE”) became the norm. Before the financial crisis of 2008, the Fed’s balance sheet was right around $880 billion. Indeed, futures tracking Wall Street averages are pointing conspicuously lower ahead of the opening bell even as shares rise in European trade.
US stock futures are trading lower today, indicating a negative opening for Wall Street.
Source: fred.stlouisfed.gov Here’s what the Fed’s balance sheet expansion is doing to the U.S.’s monetary base.
The bulls’ attempt to push higher fizzled after the minutes from the Fed’s April monetary policy meeting came out. The Fed has expanded its balance sheet notably ever since quantitative easing (“QE”) became the norm. Before the financial crisis of 2008, the Fed’s balance sheet was right around $880 billion. Indeed, futures tracking Wall Street averages are pointing conspicuously lower ahead of the opening bell even as shares rise in European trade.
US stock futures are trading lower today, indicating a negative opening for Wall Street.
China
Li Qiushi, an English teacher in Beijing, began buying funds in September because friends and relatives were constantly discussing the topic.
Europe
David J. Merkel, CFA — 2010-present, I run my own equity asset management shop, called Aleph Investments. David Merkel is an investment professional, and like every investment professional, he makes mistakes. The contract reserves the doses on behalf of all European Union member states, between end 2021 to 2023, the statement added. The contract requires that the vaccine production is based in the EU and that essential components are sourced from the EU. It s a joint endeavor by 12 eastern members of the European Union to update the physical and digital links between the Baltic, Adriatic and Black Seas.
, as it is considered to be the “blue-chip index”, with Germany by far the biggest economy in the European Union.
0 , as it is considered to be the “blue-chip index”, with Germany by far the biggest economy in the European Union.
