Close: London Session | Forex, Metals, Oil, Agriculture December 02, 2020



Source: CQG Nearby soybean futures rose from $8.695 in August to a high of $12.00 per bushel in November, the highest price in over four years since June 2016. Source: CQG Since August, nearby CBOT soft red winter wheat futures prices moved from $4.88 per bushel to a high of $6.3825 in October. Agricultural commodity prices had been in a funk since reaching highs in 2012, a year when corn and soybean futures rose to all-time highs. The price of nearby ICE sugar futures rose from a low of 9.05 cents in April to over 14.50 cents per pound on December 1.
The price of wheat traded above $6 per bushel for the first time in six years in October. The agricultural business plants, harvests, and sells wheat, corn, soybeans, cotton, sunflower, and sugarcane. It also covers the commodities market daily focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN & WHEAT. The wheat price rallied to its highest level since December 2014.
In 2012, CBOT wheat traded to its second-highest level at over $9.45 per bushel. Rising wheat prices are good news for farmers and all businesses in the agricultural sector.


The US dollar slipped to a marginal new low for the year today against the Canadian dollar near CAD1.2915. In 1971, President Nixon took the dollar off the gold standard and the fiat currency that is the US dollar has lost value against gold since then significantly. Since the March low, the Australian dollar versus the US dollar has been on a one-way course to the upside. Source: CQG In early 2009, the Canadian dollar fell to a low of 76.53 versus the US dollar.
A rising dollar tends to weigh on prices, while a falling dollar is bullish. Meanwhile, the Canadian dollar has been on the same track against the US dollar since the March low. Source: CQG The Canadian dollar moved from 68.20 against the US dollar in mid-March to 77.27 on December 1, or 13.3%. FOREX: The dollar rose from a two-and-a-half-year low as investors assessed the likelihood of further fiscal stimulus in the United States, while a rally in riskier currencies lost steam.
The US dollar shorts: Accompanied by record low levels in protection seeking and extreme bullish positioning of asset managers: We have nothing to fear but the lack of fear. A dozen years later, as the global pandemic caused risk-off conditions in markets across all asset classes, market participants bought the US dollar as a haven of safety.


In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. In addition, the gold price is 15% higher than the average gold price of $1,590/oz during the past two acquisitions. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Barrick Gold (GOLD) is an unlikely candidate as it is only looking for massive Tier-1 assets, and Evolution only has one (Cowal).
This made Evolution one of the most expensive intermediate gold producers in the sector, with a market cap of ~US$5.13 billion, translating to a valuation per ounce of US$338.16/oz. Gold had jumped 1.4% or Rs 700 per 10 grams while silver had surged about Rs 3,000 per kg. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored.
Gold prices for the latest contract on MCX are trading up by 0.9% at Rs 48,699 per 10 grams.
In the previous session, gold prices had jumped 1.4% or Rs 700 per 10 grams. Gold prices are trading up by 0.9% at Rs 48,699 per 10 grams.


The oil bull case was not helped by a much larger than expected 4.146-million-barrel increase in crude oil supply as reported by the American Petroleum Institute(API). Oil has steadying after the January WTI slipped to briefly below $44 a barrel amid ideas that the Saudis and UAE will reach an agreement (OIL). The company also has active commercial real estate and business segments that manage properties and has mobile communications, media, oil and gas, and tourism interests.
Coming up…A busy week for labor data kicks off with the ADP employment change number at 8:15 a.m. Crude oil inventory figures are released at 10:30 a.m. Insurers Might Be Shunning Coal, But They Still Like Fossil Fuels Big U.S. firms are doing less than their global peers to stop supporting the oil and gas industry. Crude Value Insights offers you an investing service and community focused on oil and natural gas. Oil prices fell, as investors awaited decision from OPEC+ on output.
Oil prices fell, as investors awaited a decision from OPEC+ on output. Oil has steadying after the January WTI slipped to briefly below $44 a barrel amid ideas that the Saudis and UAE will reach an agreement. Crude oil grabs most of the attention, but propane is an under-appreciated area of rising production that’s driving higher exports.

United States

To get a stock’s upside potential, you need to look at a stock’s current price and compare it to their price targets based on Wall Street sell-side analysts’ consensus. The UK became the first country to approve the new Pfizer (NYSE:PFE)-BioNTech (NASDAQ:BNTX) vaccine, which will be available next week. The Fed put, the vaccine put, the stimulus put, the you name it put. Not that a Trump win would have been that much different since the die had already been cast long ago for the final decline of the current financial system.
In its second estimate for Q3 GDP, the BEA also provides the first set of estimates for corporate profits within the US economy. ‘FAA issues first certificate for Boeing (NYSE:BA) 737 MAX since 2019 grounding.Facebook’s (NASDAQ:FB) Oversight Board chooses its first cases.Tailored Brands (NYSE:TLRD) emerges from Chapter 11 after restructuring. All three major indices hit new intraday records yesterday, and both the S&P 500 and Nasdaq hit record closing highs as well.
The companies have ramped up censorship of users, including Trump, in recent months, even hiding some of the president’s posts from the public unless they click a warning label. Since we first recommended the stock in July, the stock is up 10%, versus Nasdaq of 17%, and S&P of 14%. Treasury Secretary Steven Mnuchin’s decision to not extend several emergency Fed lending programs beyond Dec. 31 also left the Fed with fewer alternatives to Treasury purchases for economic stimulus.


With the seven-day repo rate at its four-month lows yesterday, the PBOC withdrew CNY110 billion after draining CNY50 billion yesterday.


Tom Newton Dunn of Times Radio said the UK and the EU could strike a post-Brexit trading deal by the end of the week. Further options the ECB could consider include a deposit rate cut, which we do not expect to see, or lifting the tiering multiplier. Immediate market reaction could be a small disappointment, but the ECB’s measures should keep yields and spreads low for longer. Her comments suggest that the ECB does not see a big need to push yields much lower from the current levels.
The ECB’s easing measures should help keep bond yields low, spreads narrow and EUR/USD around 1.20 in the near future.
PEPP will be expanded but the pace of purchases is unlikely to increase quickly, as the ECB is happy with the current levels of financing conditions. Some could see this as a form of implicit yield curve control, even if the ECB is not going to announce any explicit yield targets. Brexit negotiations entered another stage as hopes remained that an agreement would be made by the end of the week. We expect the ECB to expand the PEPP and announce new TLTROs with easier terms at its meeting next week.
ECB likely to adjust its inflation forecasts down Please find enclosed Nordea’s latest Nordic card data.The entire publication can be found here* *Data including week 48, until 29/11/2020.