Close: London Session | Forex, Metals, Oil, Agriculture January 20, 2021



These mills have produced 142.70 lt of sugar, as compared to 108.94 lt produced by 440 sugar mills during the same period last year. With the prediction of excess sugar production this season, mills are in a hurry to export maximum sugar but lack of containers and trucks has posed a major problem. Sugar mills and traders are also facing a shortage of trucks to transport sugar to the ports and within the country. Not only sugar but even rice export is being hit because of lack of containers,” said sugar trader and exporter Ashok Ghorpade.
According to the Indian Sugar Mills Association (ISMA), 487 sugar mills are in operation in the country as on January 15. According to sugar traders, in the last one month Maharashtra mills have signed contracts to export about 7 lakh tonnes (lt) of the sweetener. Unavailability of containers affecting export could land sugar mills in more trouble. According to ISMA, about 3 lakh tonnes of sugar has been exported during October-December 2020, which is against the MAEQ of 2019-20 SS extended upto December 31, 2020.
Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.


FOREX: The dollar sank against a basket of currencies for a third straight session as improved sentiment buoyed riskier currencies such as the Aussie dollar and the euro. The dollar weakened on U.S. Treasury secretary nominee Janet Yellen’s call to “act big” on measures to help the U.S. economy, pushing gold prices higher. Gold prices rose, as the U.S. dollar weakened on U.S. Treasury secretary nominee Janet Yellen’s call to “act big” on measures to help the U.S. economy.
In global markets, gold prices moved higher following a weaker US dollar amid expectations of a massive US stimulus. Since the euro is under pressure from cross trading, sterling is rising at a faster pace than the euro against the dollar. Oil prices are responding, moving higher even as the dollar starts to rise. The dollar is mostly softer, but the euro is not participating so much, perhaps a note of caution ahead of tomorrow’s ECB meeting. Gold prices tend to move in the opposite direction from the U.S. dollar.
Of course, unlike the dollar or yen, you can’t spend gold unless you sell it first. Vietnamese dong has been stable even in the year when Dollar was strong ( between 2015-2019).


less Does the rapid rise in the bitcoin price and the slide in the gold price over the past several months indicate that bitcoin is sapping demand from gold? That means gold may or may not move in the same direction as the stock market, which makes it much more difficult to label gold a safe-haven asset. But if we take US M3 which is a broad measure of money supply, and 100% gold backing, that would value gold at over $70,000. 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.
Gold Analog to 1996-2006 Gold’s corrective low in price in 2004 was 1% below its 300-day moving average and nearly 3% above the 38% retracement from the 2001 low. On the other hand, central banks buy and hold gold, and millions of people use gold as a store of value. Neither is money in the only practical definition of the term (the general medium of exchange), but gold trades like money.
It’s likely that the gold price will embark on its next intermediate-term advance at around the time that the bitcoin price reaches an important top.
Imagine if Biden instructs Yellen to take all dollars (bad money) out of circulation and to replace it by good money – gold. Reflation hopes may encourage investors to park their money in equities in search of yields and growth, resulting in a relative underperformance of gold compared to stocks.


Oil demand in China, the world’s top oil importer, remained strong last year even as the coronavirus crisis hammered global appetite. COLUMN-Oil price forecasts fall in the wake of the pandemic: Kemp Oil prices are expected to remain lower even once the coronavirus pandemic is over and the economy recovers. BEFORE THE BELL Futures for Canada’s main stock index edged higher buoyed by firmer oil and bullion prices, while investors awaited inflation data release later in the day.
The era of higher oil and gasoline prices are here and Americans can look forward to higher prices at the pump. Oil rose, supported by expectations of stimulus driven demand, OPEC curbs and forecasts of a drop in U.S. inventories. Norway, which began to extract oil and gas from its offshore continental shelf 50 years ago, believes it has still only pumped about half of its available resources. The restrictions directly impact some industries, including oil refineries, and some indirectly via shifting demand expectations.
But these are still oil and gas companies and you can’t measure the risks without getting to grips with that. He said India is the largest importer of soyabean oil from Argentina and Brazil. It is logical to bet on the worst performing sectors of CY20, that is banking, oil & gas, utilities, capital goods, real estate, metals, telecom and FMCG.

United States

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 62 points (up 0.2%). Nasdaq Futures are trading up by 75 points (up 0.6%) while Dow Futures are trading up by 6 points (flat) The rupee is trading at 73.12 against the US$. US stock futures are trading higher today, indicating a positive opening for Wall Street. Looking ahead at , fears of violence from supporters of outgoing President Donald Trump may be somewhat hiding investors back.
Investors anticipate a strengthening economy thanks to the vaccines, stimulus, the Fed…What could be a better environment for stocks? Tuesday the S&P 500 closed at 3,799, up 31 points, the Dow closed at 30,931, up 116 points and the Nasdaq Composite closed at 13,197, up 199 points. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis.
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 pound has been supported for long days by , which has reached nearly 7% of the population, ahead of the US and well beyond European countries. The announcement followed four years of controversy around the waiver program under the Trump administration, but left many questions unresolved.


“There was a proof of life need here,” said Duncan Clark, author of a book on Mr Ma and head of a Beijing-based advisory firm. Particularly noteworthy was that Blinken endorsed the assessment by Pompeo, who labeled Beijing’s treatment of the Uighurs a genocide. Ant Group’s mega IPO was scuttled by Beijing soon after the Alibaba founder spoke in Shanghai.


As mentioned above, one would be a “services trade war” in future negotiations between the U.K. and EU, leading to more significant barriers to trade. Putting Brexit in context, however, there are much bigger questions around future productivity growth, which has been on a secular decline in the U.K. for many decades. In the long term, Brexit certainly raises many questions, but most areas of the economy will likely be largely unaffected. Brexit fallout | The EU isn t trying to punish the U.K. for Brexit, but some consequences for trade are inevitable, the bloc s ambassador to Britain said.
While the U.K. will now control its own border, it is far from clear whether Brexit will lower net migration.
Despite all the attention, controversy, and volatility that Brexit has brought, we don’t expect any meaningful effects on near-term economic activity. The impact of Brexit on productivity is likely marginal relative to these bigger questions. EU Vents at Regulator Over Slow Shot Approval Bloc’s executive arm wants at least 70% of adults vaccinated by summer. Firms are generally well prepared and the government has already rolled over most non-EU trade deals.
President Emmanuel Macron hinted during a visit to troops that France could soon scale back its largest overseas military operation, fighting Islamist militants in West Africa.