External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

External broker reports(aggregated public sources)

ABN AMRO is a personal bank in the digital age. A bank committed to playing a serious role in society. This digital age helps us to bring banking ever closer to our clients and what they need. Our areas of focus are inclusion, sustainability, social entrepreneurship, innovation, daily banking and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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<div data-component-type="container"><ul><li>Between the start of the year and 4 May, gold prices rallied by 13%. Since then, they have lost momentum.</li><li>Investors don’t seem eager to buy gold at current levels probably because prices are relatively close to all time high and if prices fall, the current level could not be seen for more than 5 years. </li><li>Previously, we did not hold the view of aggressive rate cuts to come in the near-term but we had expected the easing cycle to start at the end of this year.</li></ul></div><div data-component-type="container"><p>Last week, we changed our Fed view and also our US dollar view. We now expect a recession to start in Q4 and rate cuts to come in Q1 2024. We expect the last rate hike of 25bp at the Fed’s July meeting and no rate cuts this year. We still forecast aggressive rate cuts in 2024. We now have a total of 175 basis point of rate cuts in 2024.</p></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Between the start of the year and 4 May, gold prices rallied by 13%. Since then, they have lost momentum.Investors don’t seem eager to buy gold at current levels probably because prices are relatively close to all time high and if prices fall, the current level could not be seen for more than 5 years. Previously, we did not hold the view of aggressive rate cuts to come in the near-term but we had expected the easing cycle to start at the end of this year.Last week, we changed our Fed view and also our US dollar view. We now expect a recession to start in Q4 and rate cuts to come in Q1 2024. We expect the last rate hike of 25bp at the Fed’s July meeting and no rate cuts this year. We still forecast aggressive rate cuts in 2024. We now have a total of 175 basis point of rate cuts in 2024.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

Commodities

<ul><li>Soybeans spike due to weather worries The worst U.S. Midwest drought since 2012 expanded over the past week despite mild temperatures as a lack of rain across the heart of the American farm belt threatened newly seeded crops.</li><li>Below-average rainfall and high winds also exacerbated drought conditions in many regions.</li><li>In the early growing stage of the crops, drought can be compensated by more rain in the later stages.</li></ul>

Soybeans spike due to weather worries The worst U.S. Midwest drought since 2012 expanded over the past week despite mild temperatures as a lack of rain across the heart of the American farm belt threatened newly seeded crops.Below-average rainfall and high winds also exacerbated drought conditions in many regions.In the early growing stage of the crops, drought can be compensated by more rain in the later stages.

Soybeans Spike Due to Weather Worries  - The Credit Crunch Isn’t over Yet

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

<ul><li>Gold and silver prices have been drifting lower as investors have shifted their focus to riskier assets.</li><li>Earlier this year, the rise in gold prices was driven by stable yields, anxiety from regional bank stress, and a preference for real or liquid assets as reliable investment options.</li><li>However, the current robustness of nominal and real yields, equities, and credit has left precious metals vulnerable.</li></ul>

Gold and silver prices have been drifting lower as investors have shifted their focus to riskier assets.Earlier this year, the rise in gold prices was driven by stable yields, anxiety from regional bank stress, and a preference for real or liquid assets as reliable investment options.However, the current robustness of nominal and real yields, equities, and credit has left precious metals vulnerable.

<ul><li>El Nino is here (like we forecasted) S&amp;P Global highlighted some facts regarding the effects of the weather phenomenon on crop yields.</li><li>I found the following chart about soybean yields quite interesting and also important going forward.</li><li>Makes one think how sustainable last week’s price surge in beans actually is!!! El Nino tends to be good for soybean yields in Argentina and Brazil but also in the US.</li></ul>

El Nino is here (like we forecasted) S&amp;P Global highlighted some facts regarding the effects of the weather phenomenon on crop yields.I found the following chart about soybean yields quite interesting and also important going forward.Makes one think how sustainable last week’s price surge in beans actually is!!! El Nino tends to be good for soybean yields in Argentina and Brazil but also in the US.

El Nino is here // River Rhine is drying up again // Managers are net short commodities

<ul><li>Farmer Sentiment continues to fall Producer sentiment fell to its weakest reading since July 2022 as the Purdue University/CME Group Ag Economy Barometer declined 19 points to a reading of 104 in May.</li><li>The Index of Future Expectations was down 22 points to a reading of 98 in May, while the Index of Current Conditions was down 13 points to a reading of 116.</li><li>This month’s lower sentiment was fueled by drops in both of the barometer’s sub-indices and likely triggered by weakened crop prices, according to the University of Purdue.</li></ul>

Farmer Sentiment continues to fall Producer sentiment fell to its weakest reading since July 2022 as the Purdue University/CME Group Ag Economy Barometer declined 19 points to a reading of 104 in May.The Index of Future Expectations was down 22 points to a reading of 98 in May, while the Index of Current Conditions was down 13 points to a reading of 116.This month’s lower sentiment was fueled by drops in both of the barometer’s sub-indices and likely triggered by weakened crop prices, according to the University of Purdue.

The Case for Oil // Farmer Sentiment continues to fall

United States

Gold is a chemical element with the symbol Au (from Latin: aurum) and the atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

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Gold (GOLD COMDTY)

Gold - Downgrade of gold price outlook

Previously, we did not hold the view of aggressive rate cuts to come in the near-term but we had expected the easing cycle to start at the end of...

ABN AMRO

Soybeans Spike Due to Weather Worries - The Credit Crunch Isn’t over Yet

The worst U.S. Midwest drought since 2012 expanded over the past week despite mild temperatures as a lack of rain across the heart of the American...

The Commodity Report

Gold & Silver

Earlier this year, the rise in gold prices was driven by stable yields, anxiety from regional bank stress, and a preference for real or liquid...

Untying The Gordian Knot

El Nino is here // River Rhine is drying up again // Managers are net short commodities

El Nino is here (like we forecasted) S&P Global highlighted some facts regarding the effects of the weather phenomenon on crop yields.

The Commodity Report

The Case for Oil // Farmer Sentiment continues to fall

Farmer Sentiment continues to fall Producer sentiment fell to its weakest reading since July 2022 as the Purdue University/CME Group Ag Economy...

The Commodity Report

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