Close: London Session | Forex, Metals, Oil, Agriculture December 03, 2020



They also said discussions with Ivory Coast and Ghana to continue “the sustainability programs that are benefiting cocoa farmers today.” In addition to the major industry players, the letter calls out four other smaller cocoa traders. The $400-per-ton LID was announced last year as a way to lift cocoa farmers out of poverty. Gerard Manley, head of cocoa trading at Olam, said Ivory Coast and Ghana were “important” to the company and the industry as a whole.
Many of the detainees are forced to work in internment camps or factories around XUAR region to help produce things like cotton, tea, cakes, and textiles, the report found. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit. The Trump administration banned cotton imports from a military-linked Chinese firm it accuses of relying on slave labor. The key brands are Nature’s Own, White wheat, Cobblestone Bread, Wonder, and Tastykake. Mish on Coffee and Sugar Exchange less Seeking AlphaREITsDec.


As I have explained previously, the risk rally needs further dollar weakness, and with the US Fed promising more QE and more fiscal stimulus soon, that could happen. Stablecoins aim to guarantee the value of cryptocurrencies in dollar terms, hedging volatility risk and making it easier to realise notional gains from cryptocurrency’s wild price rises. Of note, the dollar fell below KRW1100 for the first time in two years, and despite higher than expected inflation, the Turkish lira has come back bid.
Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. The weaker US dollar, fiscal stimulus, bilateral support all over the world [are] all contributing factors, in addition to more attractive levels than the US high-yield market. While Dollar General has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?
The arguments about whether Tether does or does not influence the price of Bitcoin seem to centre on whether or not USDT can credibly hold its dollar peg. Slack added 12,000 net paid customers, up 140% YoY, maintained top class net dollar retention rate above 120%, and produced a 14% free cash flow margin, demonstrating scalability! The dollar fell to new lows against the dollar-bloc, euro, and Swiss franc yesterday. That’s why cable remains bid, trading back through the 1.3400 figure on broad dollar weakness.


While other assets have also rallied following the market pandemonium earlier this year, copper has outpaced higher profile assets such as the S&P 500, gold, and silver. This makes Avino one of the only silver names posting net losses per share in FY2020, a year when the silver price is up over 30% year-to-date. Conversely, gold (GLD) is seen as a less risky play as investors look for safe places to store money throughout high inflationary periods or downward market trends.
GLD tracks the price of gold bullion and is one of the most widespread methods for investing in gold. Sometimes the strong performance of gold as a safe-haven will extend to other precious metals, like silver. Therefore, while a rising silver price would certainly lift all boats, I think there are much safer ways to play the sector and still capture upside. Bitcoin’s stellar gains as well as numerous other factors illustrate that extremely promising future prospects exist for the gold standard of the digital asset (blockchain enterprise) industry.
Steel mills have been incentivized by high prices this year to boost output. Gold prices for the latest contract on MCX are trading up by 1.1% at Rs 49,189 per 10 grams. Gold and bonds, though, are often the best-performing assets during periods of market uncertainty, at least in terms of popular investments.


A deal is expected to be reached for cuts of 7.7 million barrels per day which has seen oil trickle up overnight and trade around the $45.50 mark. We still believe that oil has seen the lows for this year, barring an all-out oil production war breaking out. Oil demand expectations are on the rise, and despite new lockdowns, the hopes are that a vaccine will significantly raise demand in the second half of 2021. We know that this deal adds oil to the market where the market had priced in an extension of the existing cut for three months.
Oil prices fell, as major producers locked horns over the need to extend record production cuts.
Oil prices are in an uptrend, and if OPEC gets a deal, we could still see $50 a barrel before the end of this month. The question mark will be on compliance to these cuts which had been a problem previously with some of the smaller member nations reluctant to cut their supply (OIL). Russia has always been a huge country with a lot of potentials, yet always one and the same approach of oil and gas, traditional thing basically. Normally to back into this, I would do a lengthy analysis on oil demand, pricing and projections.
Sectoral indices ended on a mixed note with stocks in the oil & gas sector and metal sector witnessing buying interest.

United States

While the one-day number for deaths is the highest since May 7th, Wednesday also marked the first time deaths in the US have surpassed 5k in a 2-day period. These new asset purchases have set a new all-time high and are propelling the Fed balance sheet far beyond anything seen during the Great Recession’s stimulus packages. After initial balance sheet growth in late 2019, total Fed assets surged to nearly $7.2 trillion in June and have rarely dipped below the $7 trillion mark since then.
Though a pandemic-driven urban exodus didn’t occur en masse, many of the US’ largest and densest cities like New York and San Francisco saw heightened migration during the pandemic. More than 200k new cases were reported across the US last night with New York, the Rust Belt and California driving the trend. The US also reported more than 2,700 deaths, the second-highest daily tally yet, according to the COVID-19 Tracking Project. This measure of the money supply differs from M2 in that it includes Treasury deposits at the Fed (and excludes short-time deposits, traveler’s checks, and retail money funds).
The reason for the bearish forecasts (yields to move higher) was essentially based on excessive growth of liquidity implemented by the Administration and the Fed. The bottom line is that neither the Fed nor incoming Treasury Secretary Yellen will be unduly hampered by current Treasury Secretary Mnuchin’s request for return of unused funds.
Mukadam further added that “market sentiments improved on promising reports on the efficacy of COVID-19 vaccine and hopes for more fiscal stimulus from the US government.


That, plus a message from PM ScoMo being blocked from WeChat, suggests full on agreement to disagree between Canberra and Beijing. Now Beijing is seizing on the economic vulnerabilities arising from Brexit to press its advantage, just as it s doing with Australia.


The EU-UK trade talks deal has focused on UK manufacturing, given its large export base, while the services sector has received less attention. The EU is removing the regulatory barriers to trade in services by mutual recognition of member states’ rules alongside setting supranational rules to regulate some sectors. A slimmed down Brexit trade deal is a likely outcome, which broadly excludes most services. What’s more, France reminded Barnier of the risk of a veto should he yield to the UK’s demands in the post-Brexit trade talks.
UK services are vital to its economy, accounting for 46% of its total exports, with the EU by far being its largest market, particularly for its financial services.
France, meanwhile, warned it could veto the agreement if it doesn t like the terms, piling pressure on the EU negotiating team to yield no more concessions. Reuters quotes unnamed EU diplomats that say a deal could come on Friday or over the weekend. Ireland’s Foreign Minister Simon Coveney said he believes a Brexit deal can be reached within the next few days. The failure of the UK to reach a trade agreement with the EU will damage the UK economy.
One Answer to Cutting Potent Cow Emissions Is Awaiting EU Nod A promising solutions for cleaning up cow burps could be ready for sale in Europe within two years.