Close: London Session | Forex, Metals, Oil, Agriculture October 05, 2020



Continuous supply from mills, sufficient quota for October 20, and need-based bulk and local demand kept sugar prices unchanged at Vashi on Monday. On Bombay Sugar Merchants Association’s spot rates (₹/quintal): S-grade ₹3,256-3,342 (₹3,256-3,332) and M-grade ₹3,370-3,492 (₹3,370-3,492).


In dollar terms, debt will rise from nearly $21 trillion today to $121 trillion by 2050.” Even under current law, high and rising debt represents a large fiscal gap. The dollar is under some pressure, falling against all the major currencies, but the Japanese yen and most emerging market currencies are also gaining against the greenback. This scenario is even more likely if the euro bounces around 1.20 against the dollar, a threshold from which many policymakers spoke in an attempt to contain upward pressures.
It’s a big week for the Australian dollar as a raft of different economic news announcements is set to stream across traders’ desks this week. The dollar may still rise if the president remains under medical supervision for another night. Rumors in the market are that the ECB will go for half a trillion Euro increase, large enough to move the needle when it comes to future inflation expectations. Now that we have the election, and a whole host of other issues like riots and a strengthening US dollar.
Gold and the dollar were little changed. Gold and the U.S. dollar were little changed. Amount $0.18 Dollar General Corp (DG).


On the technical front, Reuters’ technical analyst predicted that spot gold prices might break the support price level at $1,896 an ounce and slide to $1,877. Source: Bloomberg, Research SLV seeks to track the performance of silver spot prices by physically holding silver bars in England or New York. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. The recovery in both automobile and white goods sectors have helped steel companies push HRC prices above the pre-Covid level of ₹ 42,000 a tonne.
The physically-backed methodology used by SLV prevents investors from getting hurt by the current contango structure of the COMEX silver forward curve (forward>spot) contrary to a futures contract-based methodology. Gold prices are trading up by 0.3% at Rs 50,300 per 10 grams. Having said that, I believe that the silver markets more than likely pullback towards the $22 level, where we would find plenty of short-term support.
Also, the holdings of the largest gold-backed exchange-traded fund in the world SPDR Gold Trust dropped to 1,275.60 tons last Friday, which reflects market sentiments. Spot gold is currently trading at $1,897.58 per ounce as of 0854 GMT. To illustrate our point, we construct a joint plot, which allows us to illustrate the bivariate relationship between the CME silver price (USD/ounce) and positioning (i.e.


As tension between worker unions and Norwegian oil companies escalate, the Norwegian Oil and Gas Association(NOG) estimates that nearly 330,000 boepd(oil equivalent) of production could be halted. This is a significant advantage, as the natural decline of oil and gas fields is a strong headwind for all the oil majors. Oil was also supported by an escalating workers strike in Norway which has already shut four of Equinor s offshore field and put two more oil fields at risk.
Saudi oil exports usually rise after the hot summer months, when increased use of crude for power generation restricts oil shipments. Oil is also getting a boost from Mother Nature, and more tropical storm activity is threatening to shut down the Gulf Of Mexico oil production. less Construction and mining equipment manufacturer (CAT) announced the acquisition of the Oil & Gas Division of Scotland-based engineering company (WEGRY), for $405 million in cash, on Monday. Construction and mining equipment manufacturer (CAT) announced the acquisition of the Oil & Gas Division of Scotland-based engineering company (WEGRY), for $405 million in cash, on Monday.
Saudi seaborne crude exports for last week were seen at 43.5 million bbl (6.2 million bpd) compared to the revised 38.0 million bbl (5.4 million bpd) the week prior.
: The Oil and Gas sector took a beating after crude prices fell sharply due to a drop in demand worldwide. The world’s top oil exporter pumped 8.988 million bpd and exported 6 million bpd in August, the source said.

United States

less Asian markets climbed overnight to start the week on the front foot after reports that President Trump could leave hospital as early as today. BEFORE THE BELL U.S. stock index futures bounced as doctors said President Donald Trump could be discharged from the hospital where he is being treated for COVID-19. U.S. stock index futures bounced as doctors said President Donald Trump could be discharged from the hospital where he is being treated for COVID-19.
President Trump is said to have shown encouraging signs in his recovery since word of his positive Covid-19 test and subsequent hospitalization emerged last week. But 68 percent said the illness would not affect their vote while 19 percent said they were “more likely” to support Trump and only 13 percent “less likely”. —as investors cheered signs that political uncertainty may ebb following reports of President Trump’s improving health condition. The market closed up for the first week in a month at 3348 in spite of Friday’s 1% fall on news of President Trump’s Covid-19 diagnosis.
Markets riseInvestor fears over the Trump’s health are easing while optimism over a fresh U.S. fiscal stimulus plan is growing as analysts see increased urgency from both sides. Fed Chairman Powell (Tue) is among lots of Fed officials scheduled to give a keynote speech on the economic outlook this week (Weds), expect more calls for fiscal stimulus. But some experts not involved in the president’s treatment said Trump’s condition could be severe as evidenced by the use of dexamethasone on him.


The company provides care through 7 hospitals and associated clinics across eight metropolitan areas, including Beijing and Shanghai.


U.K. Prime Minister Boris Johnson warned of a “tough winter” as the country’s test-and-trace system came under fire again after it failed to capture 15,000 positive tests last week. This continues a resurgence in the performance of the stock which had previously traded significantly lower when news of the involvement of the EU Antitrust Authority first became public. Prime Minister Boris Johnson is warning of a hard winter ahead.Strained relations | President Vladimir Putin doesn t respond well to others meddling in Russia s former Soviet backyard.
Now on headline inflation, ECB staff projections had +0.1% in Q3-20 (vs -0.02% realised) and -0.2% in Q4, which is likely to be revised lower as well. An accord on future EU-UK relations may come around Halloween – the new deadline for concluding talks. Sterling continues to trade with a small amount of Brexit optimism priced-in, a set-up noted by investment bank Goldman Sachs in their latest Sterling outlook.
Prime Minister Boris Johnson and European Commission President Ursula von der Leyen held a conference call on Saturday, agreeing to extend negotiations, thus boosting the pound. ), the ECB should be tempted to take new measures in order to limit deflationary risks in the short term. The bank said that while a breakdown of talks cannot be ruled out, their core view is of a bare-bones EU/UK trade deal to be agreed by early November. EU chief negotiator, Michel Barnier discusses Brexit with German Chancellor Angela Merkel ahead of resumption of negotiations in London later this week.