Close: London Session | Forex, Metals, Oil, Agriculture January 12, 2021



Millers said that dual pricing is distorting sugar economy and leading to cane price arrears. Mondelez International Inc: Jefferies raises target price to $66 from $62, stating the company remains a stable globally diversified compounder with strategic optionality with its coffee joint ventures. It is not just crude oil; it is also other commodities such as sugar and copper. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.


Under such a scenario, the price of gold will depend on the dollar’s weakness – the more the dollar falls, the higher the price of gold will go. Gold prices gained and the dollar was slightly lower as focus returned to prospects of inflation driven by more U.S. fiscal stimulus under President-elect Joe Biden. Gold prices gained and the U.S. dollar was slightly lower as focus returned to prospects of inflation driven by more U.S. fiscal stimulus under President-elect Joe Biden.
In other words, a stronger dollar and a stable price for gold in 2021 means that gold fulfills its mission in protecting the investment portfolio. less (Video length 00:01:03) On Monday, worry around the coronavirus recovery outlook got a hold of financial markets, with stocks broadly lower and the US Dollar in demand. But the price action has been quite mild thus far and already into Tuesday, the prevailing trends of higher stocks and a lower Dollar are back at it.
Markets quiet Global stocks stabilized this morning after yesterday’s losses, with the halt in the rise of the dollar giving some room for dip-buying. The US dollar remains firm after US treasuries weakened again, but gold and silver snapped back from an extension of their sell-off yesterday. After adjusting for currency-market movements, Goldman Sachs notes that dollar holdings actually rose more than euro, Japanese yen, Chinese yuan or British pound holdings in the third quarter. The initial signs are anecdotal and tentative, but a dose of hope is helping sterling outperform not only the retreating dollar but also the euro.


Bitcoin going up therefore does not hurt gold, nor do rising bond yields as bonds fall in value really impact gold in a meaningful way. The unexpected blue wave raised expectations for higher taxes and larges fiscal deficits, which should be positive for gold. Everyone thought that a blue wave would be the best scenario for gold, but the yellow metal dropped again. less Gold ended the year higher – up more than 25% as it corrected after reaching $2,000 during the summer months.
less BoE’s Bailey – Negative rates “controversial” US Futures stabilize Nikkei 0.09% Dax 0.04% UST 10Y 1.16 Oil $53 Gold $1860/oz. Therefore, gold, with a performance of over 25%, proved to be the safe-haven asset traders look for when investing in the yellow metal. If anything, gold did exactly what it was supposed to do in a year full of uncertainty – protected the portfolio and outperformed major assets. These factors should have been bullish for gold and they should have made the price of the yellow metal rally, but they weren’t and they didn’t.
Miners who overspent on acquisitions in the 2011 gold boom have curbed premiums that led to billions in impairments when prices later crashed. Looking ahead, gold and the precious metals market have a challenging year.


oil companies already pump more than 50 million metric tons of carbon dioxide underground each year for enhanced oil recovery. Oil Inventory After a brief spike in December, oil inventory has been looking to merge with its 5-year supply range, which is bullish for energy stock. We expect that the breakout in oil is signaling a new day in the oil price comeback. Oil hit an 11-month high as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally.
BEFORE THE BELL Futures for Canada s main stock index edged up, as oil hit an 11-month high on tighter supply and expectations of a drop in U.S. inventories. Another case where low prices miraculously cure low prices and for oil when they went below zero, that was as low as they ever got. These dynamics are playing out for the oil futures market as the term structure is trading in backwardation moving into the spring and summer months. Oil prices are firm, and the February WTI contract is pushing above $53 a barrel, a new 10-month high.
Chesapeake sought protection from creditors, weighed down by $11.8 billion in debt, after a decade of aggressive borrowing to buy oil and gas properties.
Oil bears that were betting that OPEC Plus could not reduce supply or that Covid would keep demand depressed forever, are wrong and must cover.

United States

Twitter Inc., which banned Trump from its platform last week, said it has closed more than 70,000 accounts for spreading QAnon-associated conspiracy theories. Funds could be used to finance Mr. Trump’s travel, including on his company plane, and events at Trump properties. Paid Post There’s a reason over 2.5 million people start their day with Morning Brew the daily email that delivers the latest news from Wall Street to Silicon Valley. The Trump Organization’s holdings include two resorts in Scotland, where it has spent well over $150 million to buy and renovate the properties.
Perhaps just as concerning is the schism that has formed in the GOP over Mr. Trump that could make Republican spending at his properties less likely. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening. The Trump Organization’s golf courses and resorts are particularly important, accounting for nearly half of the company’s annual revenue.
It s safe to say that most EU leaders would love to see Trump stop spreading misinformation online. Trump berated Pence for refusing to overturn the election results – including when the VP was hunkered down in the Capitol amid the mob attack. Political spending at Trump properties has topped $24 million since 2015, according to the nonpartisan Center for Responsive Politics.


Trade Tools: The EU will complete a trade-policy review that has received extra attention as a result of pandemic-induced disruptions to global supply chains. The Brexit deal has clearly introduced friction into the UK economy with many supermarkets reporting empty shelves as foodstuffs get delayed at the border due to new customs procedures. But trade will continue to top the EU s agenda, with transatlantic repair work and a renewed defense of multilateralism among the immediate priorities.
Shipping rates to move goods across the English Channel have surged after Brexit, and some of that increase may remain permanent. This comes in despite the current antitrust charges levied against the company by the U.S. government and European Union. Look at Latin America: The EU is facing an uphill struggle to ratify its landmark draft free-trade accord with the Mercosur group of Argentina, Brazil, Paraguay and Uruguay. Johnson s Bike Ride Outing Risks Own Lockdown Boris Johnson s office was unable to supply a statement explaining his trip.
Oceania Aims: The EU will push ahead with negotiations begun in mid-2018 on free-trade agreements with Australia and New Zealand. While the EU is still not showing a good pace.