The USD rebounded against on Tuesday with North American markets coming out of a long weekend. The correlation between rising US bond yields and currency strength had broken down this year, but it now back on track with the 10 year Treasury note hitting a 10 year high driven by higher inflation expectations. The Fed has been divided internally on how to proceed in a slow inflation environment, but if prices suddenly accelerate there will not be need for debate with a higher pace of interest rate moves expected from the central bank.
Neal Bhai
London Metal Exchange Copper Eased
Gold Silver Reports – London Metal Exchange Copper Eased — London copper drifted lower on Tuesday as a firm dollar dictated direction in a thinly traded market, with holidays in top metals user China.
Israel to Export Natural Gas to Egypt in $15 Billion Deal
Gold Silver Reports – Israel to Export Natural Gas to Egypt in $15 Billion Deal — The lead partners in Israel’s largest gas fields said they signed a $15 billion export deal with Egypt, adding an economic dimension to what until now has been a security-focused relationship between former regional rivals.
Natural Gas: Any Panic Buy Truck Load Natural Gas Stop Same 162 (Closing Basis Stop Loss) For Big Target — 172 — 178 — Till Expiry 195 Possible.
Natural Gas MCX: Any Panic Buy Truck Load Natural Gas Stop Same 162 (Closing Basis Stop Loss) For Big Target — 172 — 178 — Till Expiry 195 Possible.
$1.8 Billion PNB Fraud Threatens to Create Liquidity Problems in Gems, Jewellery Sector
Gold Silver Reports – PNB Fraud Threatens to Create Liquidity Problems in Gems, Jewellery Sector — The $1.8 billion fraud at Punjab National Bank (PNB) committed by billionaire jeweller Nirav Modi threatens to dry up funding for India’s gems and jewellery industry, as banks move to tighten their loan processes and seek higher collaterals.