Agriculture
Uptrend scenario The uptrend may be expected to continue in case the wheat market rises above resistance level 633, which will be followed by reaching resistance level 705. Downtrend scenario A downtrend will start as soon, as the wheat market drops below support level 596, which will be followed by moving down to support level 573. Uptrend scenario An uptrend will start as soon, as the wheat market rises above resistance level 596, which will be followed by moving up to resistance level 633.
Varqua said the extended period of dry weather, reduced use of fertiliser from last year, and workers’ problems impacted the output in Malaysia. As for the 202 MW Sugar Creek Wind Facility in Illinois, it was completed on November 9th and will generate ~708.2 GW-hrs of energy per year. Included in the 275 MW are both the Great Bay II Solar Project and the Sugar Creek Wind Project during the quarter as well.
Varqua said the extended period of dry weather, reduced use of fertiliser from last year, and workers’ problems impacted the output in Malaysia. As for the 202 MW Sugar Creek Wind Facility in Illinois, it was completed on November 9th and will generate ~708.2 GW-hrs of energy per year. Included in the 275 MW are both the Great Bay II Solar Project and the Sugar Creek Wind Project during the quarter as well.
Currencies
FOREX: The euro climbed against the dollar, helped by optimism over another coronavirus vaccine, while the Chinese yuan hit its highest against the U.S. currency since June 2018. The euro climbed against the dollar, while gold prices were little changed. The euro climbed against the U.S. dollar, while gold prices were little changed. less Nasdaq leads equities slightly higher Dollar weaker across the board Nikkei 0.42% Dax -0.16% UST 10Y 0.89 Oil $41.22 Gold $1889/oz.
The dollar-bloc currencies and Scandis lead the broad move against the dollar, while sterling, the yen, Swiss franc, and euro were little changed. Citigroup says dollar may drop 20% next year on vaccines. If you’re reading this from your home office in a comfy suburb in the United States, the dollar may serve your interests just fine. After a valiant bullish effort, the dollar gave way, falling for a fourth straight day. Stocks have been under pressure, though this hasn’t been accompanied by US Dollar demand.
Therefore, if you invest in it, normal guidelines for investing in volatile assets apply, such as dollar-cost averaging on entry and exit to smooth out your results.
The dollar-bloc currencies and Scandis lead the broad move against the dollar, while sterling, the yen, Swiss franc, and euro were little changed. Citigroup says dollar may drop 20% next year on vaccines. If you’re reading this from your home office in a comfy suburb in the United States, the dollar may serve your interests just fine. After a valiant bullish effort, the dollar gave way, falling for a fourth straight day. Stocks have been under pressure, though this hasn’t been accompanied by US Dollar demand.
Therefore, if you invest in it, normal guidelines for investing in volatile assets apply, such as dollar-cost averaging on entry and exit to smooth out your results.
Metals
Downtrend scenario A downtrend will start as soon, as the gold market drops below support level 1884, which will be followed by moving down to support level 1864. Downtrend scenario A downtrend will start as soon, as the gold market drops below support level 1848,20, which will be followed by moving down to support level 1780. Downtrend scenario A downtrend will start as soon, as the gold market drops below support level 1933, which will be followed by moving down to support level 1848.
Uptrend scenario The uptrend may be expected to continue, while the gold market is trading above support level 1848,20, which will be followed by reaching resistance level 1933,15. We see Gatos Silver as an exciting new player among pure-play silver mining stocks, well-positioned to benefit from rising silver prices with overall solid fundamentals. On Multi Commodity Exchange (MCX), December gold rose 0.2% to Rs 50,955 per 10 gram while silver futures were steady at Rs 63,700 per kg.
Overall, we see the price of silver climbing over the next year which can support positive sentiment among mining stocks and Gatos Silver. Year-to-date, gold consumed in industrial applications remains 12 per cent lower than last year. We believe that Gatos Silver can gain market awareness over the coming quarters and benefit as the market typically rewards high production growth. Domestic gold and silver prices struggled today after a sharp fall last week.
Uptrend scenario The uptrend may be expected to continue, while the gold market is trading above support level 1848,20, which will be followed by reaching resistance level 1933,15. We see Gatos Silver as an exciting new player among pure-play silver mining stocks, well-positioned to benefit from rising silver prices with overall solid fundamentals. On Multi Commodity Exchange (MCX), December gold rose 0.2% to Rs 50,955 per 10 gram while silver futures were steady at Rs 63,700 per kg.
Overall, we see the price of silver climbing over the next year which can support positive sentiment among mining stocks and Gatos Silver. Year-to-date, gold consumed in industrial applications remains 12 per cent lower than last year. We believe that Gatos Silver can gain market awareness over the coming quarters and benefit as the market typically rewards high production growth. Domestic gold and silver prices struggled today after a sharp fall last week.
Oil
There is no agreement on when oil demand could peak, but expectations weigh on oil companies’ plans to explore for and develop new resources. India, the world’s third biggest oil importer and consumer, depends on foreign purchases for over 80% of its oil needs. Oil Daily Technically, the onus is on oil bulls to overcome a three-day slide that confirmed Wednesday’s powerful shooting star. In the economics transition scenario, the world in 2050 consumes 679 exajoules of primary energy that s the equivalent of 300 million barrels of oil per day.
Sunflower oil prices provided ballast to CPO prices lifting it up on futures and the physical market, he said.
less WTI crude oil prices moved higher alongside risk assets after Moderna said its coronavirus vaccine was tested 94.5% effective in preventing the disease. The nation’s oil and gas output has been stagnant for years, forcing it to raise reliance on imports to meet rising fuel demand. Vinod TP, Senior Analyst at Geojit Financial Services Ltd, said the increase in domestic demand for palm oil ahead of festivals amid lower stocks supported the gains.
Demand remains a major drag for oil prices, which appeared to be capped by escalating pandemic risk and a lack of immediate vaccine solutions. Varqua said that the lower crop outlook in Ukraine and steady demand from India kept sunflower oil prices bullish in August and September.
Sunflower oil prices provided ballast to CPO prices lifting it up on futures and the physical market, he said.
less WTI crude oil prices moved higher alongside risk assets after Moderna said its coronavirus vaccine was tested 94.5% effective in preventing the disease. The nation’s oil and gas output has been stagnant for years, forcing it to raise reliance on imports to meet rising fuel demand. Vinod TP, Senior Analyst at Geojit Financial Services Ltd, said the increase in domestic demand for palm oil ahead of festivals amid lower stocks supported the gains.
Demand remains a major drag for oil prices, which appeared to be capped by escalating pandemic risk and a lack of immediate vaccine solutions. Varqua said that the lower crop outlook in Ukraine and steady demand from India kept sunflower oil prices bullish in August and September.
United States
New cases are averaging 150k new cases per day in the US, an increase of 37% over the past week, with hospitalizations hitting a new peak of 73k. After two months of ups/downs, SPX finally made another double-bottom breakout move last week and closed with a new all-time high. MarketWatch reported that “Top advisers talked President Donald Trump out of launching a military strike against Iran’s nuclear facilities last week, the New York Times reported Monday night.
Vanguard Global ex-US Real Estate (NASDAQ:VNQI) jumped 4.5%, extending the previous week’s rally and closing near the best level since early March. Since the election, new highs on the NYSE and the Nasdaq have steadily increased, while new lows have significantly shrunk. More good news: the company said new member sign-ups and renewal rates were strong, particularly Plus membership. All the evidence showed that the US economy is in a strong V-shaped recovery and the recovery will continue in the following months.
The prohibition against new ownership will take effect less than two weeks before the end of Trump’s term. However, the opportunity is enhanced with the new CEO, NASDAQ relisting, investments in new systems, process improvements. Too much attention has been put into the 2020 US presidential election recently and all the major media ignored the US economy.
Vanguard Global ex-US Real Estate (NASDAQ:VNQI) jumped 4.5%, extending the previous week’s rally and closing near the best level since early March. Since the election, new highs on the NYSE and the Nasdaq have steadily increased, while new lows have significantly shrunk. More good news: the company said new member sign-ups and renewal rates were strong, particularly Plus membership. All the evidence showed that the US economy is in a strong V-shaped recovery and the recovery will continue in the following months.
The prohibition against new ownership will take effect less than two weeks before the end of Trump’s term. However, the opportunity is enhanced with the new CEO, NASDAQ relisting, investments in new systems, process improvements. Too much attention has been put into the 2020 US presidential election recently and all the major media ignored the US economy.
China
President Xi Jinping’s government has urged more development in areas like semiconductors, 5G and artificial intelligence.
Europe
Markets have paused for breath this morning, however, with the FTSE down 0.5% due to GBP gaining ground and increasing pressure on a Brexit trade deal. As such, the ECB vowed to act now, during the second wave of the pandemic, as decisive as it did during the first wave. Instead, Lagarde replied with one of her best speeches of the presidency in the one year she sits at the helm of the ECB. Albania and North Macedonia have waited more than a decade to start talks aimed at joining the EU to raise living standards.Third time lucky?
What is interesting is that Lagarde took another rate cut off the table but vowed for more easing. “At the same time, you see the direction of EU energy and climate policy. As mentioned earlier, the ECB ruled out a further cut of the deposit facility rate. Lagarde offered the image of a powerful central bank ready to act in December. European Central Bank President Christine Lagarde and Indian Prime Minister Narendra Modi are among today’s speakers at the Bloomberg New Economy Forum.
For once, the ECB’s message was celebrated by the markets.
0 What is interesting is that Lagarde took another rate cut off the table but vowed for more easing. “At the same time, you see the direction of EU energy and climate policy. As mentioned earlier, the ECB ruled out a further cut of the deposit facility rate. Lagarde offered the image of a powerful central bank ready to act in December. European Central Bank President Christine Lagarde and Indian Prime Minister Narendra Modi are among today’s speakers at the Bloomberg New Economy Forum.
For once, the ECB’s message was celebrated by the markets.
