Close: London Session | Forex, Metals, Oil, Agriculture January 06, 2021

Urging the scientists to look from the global perspective point of view, Singh said the country’s cocoa production to the global production is very small. These factors should help bring down the import of cocoa and help India becoming self-reliant in cocoa production, he said. “In such a situation, scientist can help develop technologies and connect with the cocoa farmers so that the cost of cocoa production goes down. Referring to the data of International Cocoa Organisation, he said the prices increased around 20 per cent year on year basis.
This will also do away with the vegetable fat as a substitute for cocoa in the chocolate industry,” he added. Coffee may speed its rally while cocoa may suffer more loss.

This has pushed the lira to its strongest level against the dollar since Aug. 19, with one dollar buying 7.3342 lira as of Wednesday. A recent bout of dollar weakness is also expected to boost demand for exports of dollar-priced commodities including oil, giving more support to economic rebounds in emerging markets. Yields on the 10-Year Treasury note topped 1% for the first time since March and the dollar extended its sellfoff as markets priced in uncontested Democratic legislative rule.
Prospect of additional stimulus under a Democrat-controlled Senate pushed European stocks higher, while dollar dipped. Prospect of additional stimulus under a Democrat-controlled Senate pushed European stocks higher, while the U.S. dollar dipped. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. “Considering ongoing economic recovery and persistent weakness in dollar with soft monetary policies across the world, FPIs flow should continue to remain supportive for Indian equities” Modi added.
Sponsored Offers The crypto market ended 2020 on a tear higher, with most cryptocurrencies advancing against the dollar. This sent cyclical stocks and commodities up, and the dollar down. A gauge of the dollar fell to near the lowest since 2018.

Although iron ore prices may soften slightly once supply improves, it would remain at elevated levels due to the structural change in the cost of miners paying premium. Domestic iron ore prices in December 2020 have increased to ₹4,610/tonne (NMDC). In the event that gold prices continue to edge higher, then a higher low needs to form above 1950. Gold prices inched lower. Gold may revisit its November low to complete a correction. Gold is firm as it extends its rally for the seventh consecutive session and approaches $1960.
Oil traded at over $50 a barrel and gold added to recent gains. “We’ll grow our profits and we don’t have to figure out ways to nickel and dime them.”

NOK has benefited from the unexpected oil production cuts from Saudi Arabia which have pushed oil prices higher. Oil rose, after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers and after data showed lower U.S. stockpiles last week. Vaccination will result in oil demand recovering and somewhat higher oil prices. —The Energy Information Administration will report how much oil was in storage in the U.S. last week at 10:30 a.m. Crude supplies are expected to have fallen.
Two reasons for today’s NOK strengthening: The outcome of this week’s OPEC+ meeting ended up much better for the oil price that one could expect. But in the near term, restrictions will continue to weigh on demand and oil prices. REUTERS TECHNICAL ANALYSIS Q1 OUTLOOK 2021 – WANG TAO Crude, palm oil and base metals are expected to extend gains in next quarter. The Geneva-based trader bought a 10% stake in Vostok Oil through a unit last week.
We probably need to see oil prices above $55/barrel for markets participant to be willing to bet on EURNOK below 10.30. Judge Allows Trump Auction of Arctic Refuge Drilling Rights The Trump administration s sale of oil drilling rights in the Arctic National Wildlife Refuge will go forward Wednesday.

BEFORE THE BELL Nasdaq futures sank, as investors priced in a Democrat win in the U.S. Senate election in Georgia that could result in regulatory scrutiny of technology companies. Nasdaq futures sank, as investors priced in a Democrat win in the U.S. Senate election in Georgia that could result in regulatory scrutiny of technology companies. Futures tied to the technology-heavy Nasdaq-100 index fell 1.7% on expectations that a Democrat-controlled Congress would lead to higher taxes and tighter regulations on tech giants.
Nasdaq-100 futures are taking the biggest hit, off nearly 2% on expectations that a Democratic-controlled Senate would lead to tighter regulations on tech giants. Mr. Trump’s order seeks to ban trading in securities of companies that the administration says have links to the Chinese military. less Investing.com Follow The prospect of a blue wave in the aftermath of the two Senate runoffs in Georgia is driving NASDAQ futures significantly lower in trading on Wednesday.
The prospect of a blue wave in the aftermath of the two Senate runoffs in Georgia is driving NASDAQ futures significantly lower in trading on Wednesday. Control of Senate by Democrats is likely to result in the reversal of lower tax rates in the US, which may create certain volatility in the market. As we look to 2021, exports have again picked up, but concerns persist over COVID-19, and in the US, what a new administration will mean for energy.
Chief Financial Officer Colette Kress told a UBS conference last month that the company has seen “overwhelming demand” and still faces some supply challenges.

Meanwhile, US and EU measures to mitigate the pandemic’s fallout have suppressed borrowing costs and investor returns, thereby keeping alive firms that under normal circumstances would require restructuring. 1 manufacturing industry; Bloomberg Intelligence looks at how the post-Brexit trade deal secures the country s complex food-supply chain. Pound optimism fades along with Brexit glow for asset managers. Sustainable Finance in BriefDan Jorgensen Danish Climate Minister Dan Jorgensen, the European Union s climate leader, explains why 2021 has him feeling optimistic.