Theme: Quarterly Outlook special social.saxo/s7cdlov via Saxo

#XAUEUR trades up 20.5% YTD with EURUSD being challenged by the prospect for a June ECB rate cut. #XAUJPY meanwhile trades up 25% as the BOJ stand accused of hiking to slowly

Commodity weekly: Gold and silver surge at odds with other market developments, amplifying signal value social.saxo/i35hwdi?uuid=F…

FOMO spreads to #copper with #HG_f now challenging the Jan 2023 high at $4.355. A rise in China exchange-monitored stocks to a four-year highlighting local traders concern about Yuan devaluation. Hence the hoarding of not only gold and silver, but now also copper.

The International Energy Agency lowers their 2024 global oil-demand growth by 0.1m b/d to $1.2m b/d, a full one million barrel below OPEC's projection. #OOTT #crudeoil

China March import of key #commodities :
Crude oil: 11.58m b/d, -6.2% YoY (+4% MoM)
Natural gas: 10.8m tons, +21.3% YoY
Coal: 41.4m tons, +22.6% YoY
Copper: 2.33m tons, +15.4% YoY
Iron Ore: 100,7m tons, flat YoY
Soybeans: 5.54m tons, -19.1% YoY

Global Market Quick Take: Europe – 12 April 2024 social.saxo/nn07udc via Saxo

What are the most attractive sectors for the long-term investor? #equities social.saxo/ool5erl?uuid=E…

Watch #silver as #gold 's three-year uptrend is close to being challenged with the #XAUXAG (Gold-silver ratio) trading near 82.50. During the past month, gold trades up 10% while silver has added around 20%.

US #natgas fell the most since Feb on Thursday after the EIA reported a 24 bcf stock build vs 13 bcf expected. Stocks totaled 2,283 bcf, some 38% above the 5-yr avg. At $1.75 the #NG_f contract trades on the 21-DMA line with a break potentially signaling further loss of momentum

$2,375

USDA leaves #Brazil 's crops unchanged from last month but cuts #Argentina #corn by 1 mmt. No changes for Argy #soybeans .

U.S. ending stock estimates for #corn , #soybeans and #wheat all come in higher than the trade guess. Corn & wheat exports were unch from March but soybean exports were cut 20 mbu to 1.7 bbu.

World ending stocks for #corn , #soybeans & #wheat all come in lower than last month, but corn & soy landed above the trade guess. Ukraine wheat exports were +1.5 mmt to 17.5 mmt, Russia exports +1 mmt to 52 mmt. EU wheat exports -2 mmt to 34.5 mmt. No big changes otherwise.