Source: The Wall Street Journal. The growing interest in renewable energy has increased the demand for vegetable-oil supplies, leading to an increase in the prices of soybean oil. The Chicago Board of Trade has recorded a 70% increase in soybean-oil futures. The surge makes soybean oil one of the best-performing commodities over the year.The Department of … [Read more...] about Push for Renewable-Fuel triggers a Record High Surge in Soyoil Prices
Forex News
China’s Exports Jump 28% on Global Demand Amid Decline from April Record
Source: Bloomberg Exports from China grew 28% in May from the same month of last year on strong global demand. CSI 300 sheds 0.088% on news, USDCNY is up 0.04%. China’s May exports represents a slower rate of growth from April’s record Imports surged at a rate of 51.1%, the fastest since March 2020 to enable China to record a $45.5 billion trade … [Read more...] about China’s Exports Jump 28% on Global Demand Amid Decline from April Record
EUR/USD: The Euro Falls on Inflation Concerns Ahead of ECB Monetary Policy Meeting
The US dollar gained against the euro on improved employment rates in the US. Inflation rates in Europe are likely to breach the 2% ECB target. US crude oil inventories stand at 479.3 million barrels after a decline of 5.080 million barrels. The EUR/USD traded at -0.63% on June 3, 2021, hitting a low of 1.2132 from the previous day, where it had closed at … [Read more...] about EUR/USD: The Euro Falls on Inflation Concerns Ahead of ECB Monetary Policy Meeting
United States’ 559,000 Job Growth in May Short of Potential, Says Analyst
The United States job growth picked up in May but was not enough to meet market expectations, Bloomberg reported. Payrolls grew by 559,000 in May, short of the 675,000 market consensus. This also compares with the 278,000 gain in April.The unemployment rate fell to 5.8%, while the labor force participation rate was little changed at 61.% from the previous month's … [Read more...] about United States’ 559,000 Job Growth in May Short of Potential, Says Analyst
China Seeks to Halt Consumer Price Rally — Failure Is Likely
Chinese officials have unveiled a full arsenal of measures to taper down consumer prices, but strategists expect this to fail, Bloomberg reported. China, in the last three weeks, hiked transaction fees, adjusted tax regulations, censored industry research, called on producers to unload inventories, and pushed trading firms to reduce wagers.The measures seek to address the … [Read more...] about China Seeks to Halt Consumer Price Rally — Failure Is Likely
