Close: London Session | Forex, Metals, Oil, Agriculture November 16, 2020



The USDA told the corn futures market: This month’s 2020/21 U.S. corn outlook is for lower production, reduced feed and residual use, larger exports, and smaller ending stocks. Futures prices for soybeans, corn and hard red winter wheat—the kind used for baking bread—have risen by about a third since a rally began Aug. 10. The global coronavirus pandemic had cast doubt on demand, from the corn that finds its way into motor fuels to the wheat that winds up as restaurant dinner rolls.
Soft red winter wheat, found in animal feed and processed foods, is up about 20%. source Similarly, the use of Zoom, Skype, and other communication systems will go down as people feel more comfortable meeting face to face over a coffee at Starbucks (SBUX). Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.


The agreement pegged the U.S. dollar to gold and all the other currencies against the dollar. Conversely, the New Zealand dollar (+1.06%), the British pound (+0.37%) and the Australian dollar (+0.09%) showed gains. XPeng’s earnings came in quite strong, with revenues soaring although net loss widened just a touch on a dollar basis. The dollar index was little changed, while gold prices edged down. Each dollar invested essentially gets you two dollars worth of real estate, net of debt.
However, with global industrialization and inflation in the dollar, the preference for gold and other currencies began growing. less On Monday, the prices of gold reached its highest level since November 9 on a softer dollar. The dollar index was little changed, while gold edged down. After all, First Quantum has completed the multi-billion dollar Cobre Panama construction and the ongoing capex is quite low while the initial investment is being depreciated.
It attempted to build a regime where the U.S. dollar was equivalent to gold as a reserve currency.


Since gold tends to show strength following periods of strength, let’s create a strategy that will only hold gold when its past 12-month return is positive. This approach will keep us in gold as long as market volatility remains and has a proven track record of delivering return to gold holders. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Another predictive variable of gold’s future prices is that of the volatility index and gold itself.
The good news is that the move of gold stocks breaking out against Gold has not even started. For example, when Pfizer announced the positive vaccine news last week, the gold price lost nearly $100 in a day while silver fell more than $2.00. While investors may be tempted to exit gold holdings due to the past 3 months of performance, I believe it’s actually a good time to buy. Gold momentum is positive and strongly suggestive of future price rallies in the commodity going forward.
With a relatively free currency market, gold’s price grew enormously for the next 50 years. GDX, GDXJ, GOEX, SIL In short, when this correction is over, junior gold stocks have a good chance to run higher and higher towards the upside targets (red lines).


Since 93% of the revenue for Gulfport comes from natural gas and 6% from natural gas liquids, natural gas price changes are critical to Gulfport. Adler Tanks segment has been going through a tough time due to a decline in demand from oil and gas end markets. This is just as true for natural gas producers like Peyto as it is for Canadian oil sands producers (see Cenovus & Husky: It’s Dog Eat Dog). less The crude oil market is positively giddy as vaccine hopes rise and China briefing refinery run records and Japan’s economy is on fire.
The company has been hit by two forces: COVID and the general decline in oil & gas production.
At the end of last year, the company held 517 producing wells with total oil output of 25,300 bpd in the Eagle Ford. Through natural gas purchases, Berlin puts hard currency into Russian pockets that can fund its military rather than purchase more expensive American liquid natural gas. Oil gained as OPEC and its allies started meetings that will look at further action to support the market in 2021. Brent crude, the international benchmark for oil, rose 2% to $43.65 a barrel.
A third of the cargo miles currently hauled by shippers comes from moving fossil fuels, 70% of which is oil, according to BloombergNEF estimates.

United States

Biden’s incoming team is likely to be far more strict than Trump’s outgoing team, as will be the case at many financial regulatory agencies. Traders are once again shaking off fears about rising coronavirus cases after Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) last week announced strong results for their COVID-19 vaccine. But the most serious situation right now is the pandemic, with the incoming Biden team unable so far to even make contact with the outgoing Trump people.
TikTok skated past another U.S. ban last week as its strategy for the rest of President Donald Trump’s term becomes increasingly clear: Wait it out. On the central bank front, we’ll hear from a number of speakers including ECB President Lagarde (today), Bank of England Governor Bailey (tomorrow) and Fed Vice Chair Clarida (today). Real estate shares surged last week, in the US and abroad, posting the strongest gains for the major asset classes, based on a set of exchange-traded funds.
Expectations are high that Moderna (NASDAQ:MRNA) will report a similar performance for its coronavirus vaccine, which also uses mRNA technology, perhaps as early as today. I stand behind it even more now because when someone like George takes action, it increases pressure on Wall Street investors, market makers, banks, endowments, and more. (Senate Television via Getty Images) Dershowitz served on Trump’s legal team during the Senate impeachment trial earlier this year.
Federal Reserve Bank of Atlanta President Raphael Bostic, the first Black Fed president in the central bank’s 106-year history, says systemic racism is an economic and moral issue.


COVID-19 demonstrated WHO must be reformed to adequately alert the global community of emerging threats from China—Beijing’s assent for that is also unlikely. Photo by Manny Becerra on Unsplash The WTO lacks the tools to address Chinese mercantilism but Beijing’s consent is needed to write new rules—that’s hardly likely. The reprieve for TikTok Chinese parent company ByteDance Ltd. followed months of drama that unfolded across Washington and Beijing and rippled through a number of America s largest companies.
Therefore, demand is flowing to other adjacent cities such as Kunshan in Jiangsu Province (~ 77km from Shanghai) and Langfan in Hebei (~ 55km from Beijing).
The U.S. Congress and most of the American public remain staunchly anti-Beijing at the moment.


Brexit will remain in focus this week, a crunch week for talks as both sides say that a breakthrough must be made in the coming days. Last week, the ECB forum gave a clear indication that new monetary policy measures are coming. less “Confident we will prosper without EU trade deal” – Prime Minister Boris sending the pound down. Via Last week Chancellor Angela Merkel warned that Germans can expect a “more severe” outbreak during the second wave.
It is not expected to go as far as the European Union in integrating member economies but does build on existing free trade arrangements. The European Union, responsible for one fifth of global shipping emissions, is planning to act regardless of the outcome of the talks. If the EU manages to change the behavior and technology of that one fifth, the rest will just follow, Abbasov says. , as negotiators are trying to strike a deal before Thursday’s EU leaders videoconference. It is the first such major action against the U.S. technology group related to European Union privacy rules.
This is a clear breach of European Union privacy laws,” said Noyb lawyer Stefano Rossetti.