reading time: 3 min Introduction It is time to start looking at the agricultural futures again, and today we are looking at corn futures. Corn futures are correcting after the rally from the July low near 435’0. ZC closed 1 October at 502’0 (session range 498’2 to 503’0), below the 50 moving average near 507’0 Read More…
Oil prices recovered on Wednesday after downbeat US inflation data sent the dollar lower, making the commodity cheaper for foreign buyers. However, a rebound in oil exports from the Middle East eased global supply worries, putting a lid on gains. US inflation data on Wednesday showed that the core PCE price index rose 0.2%, below Read More…
Introduction Euro futures have broken below the support area that held through June and July, extending the decline from August’s highs. This was a very important level for Euro bulls to hold because the next support level is down at 1.11. The chart is oversold no won the daily so a short term bounce or Read More…
Gold prices rebounded on Tuesday after collapsing to an over 7-week low in the previous session. The recovery was a pause in the drop, driven by a surge in Treasury yields and bets on a Fed rate hike. Uncertainty over a deal between the US and Iran sent oil prices higher last week, increasing inflation Read More…
Introduction Gold has given back most of its August recovery and is approaching the support area that held through June and July. Price is trading around $4,170 on the September 29 daily chart, below both moving averages, with sellers now in control again. The gold bulls are scrambling because there looked like a strong chance Read More…
Equities dropped at the start of the new week as Treasury yields extended last week’s gains. Uncertainty surrounding the war in Iran heightened inflation concerns. Consequently, there was a sharp increase in bets for an October Fed rate hike that boosted yields. Meanwhile, growth stocks, especially in the tech sector, dropped. 10-year yield (Source: Bloomberg) Read More…
