Close: London Session | Forex, Metals, Oil, Agriculture October 07, 2020



Consumer preference is evolving away from traditional beverages laden with products that have high sugar content and significant amounts of processed and artificial ingredients toward healthier beverage products. Now that further help is definitely not on the way they’ll have to keep eating their already meager seed corn while cutting back on pretty much everything. The “weed” in question is a commodity product with unproven branding power that may end up being no more profitable than corn.
Over coffee and croissants in his rooms at No. Sugar market witnessed bearish trend on Wednesday on limited demands.


The yen fell against the dollar by about and the Australian dollar about in the European trading session. Given rally in US Treasuries this year, and the modest dollar depreciation against other likely reserve currencies, valuation can account for increase in South Korea’s reserves. Amid rising uncertainties surrounding the US presidential election and the fiscal stimulus package, haven demand may underpin US Dollar’s strength. The market’s big struggle right now, its driving narrative, is between COVID-19 and the prospects of a new, multi-trillion dollar round of stimulus.
If the US dollar starts to rally again, that will more than likely work against the value of crude oil, as it would other commodities. So, if the dollar is forming more than just a tiny low and it is about to rally, that would put additional downward pressure on stocks and gold. In general, the negative correlation between the US dollar and crude oil should continue to be something that a lot of people pay attention to.
Hence, the company might easily earn a dollar or two per share, or even more than this, for the year 2020. The dollar is seeing yesterday’s gains trimmed against the major currencies, but has pushed above the JPY106 level, which it has not closed above in almost a month. Against this backdrop, we’ve seen no convincing signs of progress in House Speaker Nancy Pelosi’s and Treasury Secretary Steven Mnuchin’s negotiations over a fresh multi-trillion dollar round of stimulus.


This gold mine is capable of producing over 200,000ozAu per year, and using a $1,800/oz gold price, would generate $15+ million in annual royalty revenue. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Two of the VanEck Vectors Junior Gold Miners ETF’s most important holdings include Northern Star Resources (OTCPK:NESRF) and Gold Fields Limited ADR (NYSE:GFI). On the technical aspect of trading, Reuters’ technical analyst Wang Tao predicted that spot gold prices might slide back down to $1,847.57 an ounce.
Source: Gold Fields Limited Looking at the company’s balance sheet, the company showed $1.2 billion in net debt (lease liabilities included). Since the Barkerville Gold Mines takeover, the stock has declined by 4% compared to an average gain of 41% by its peers, according to the company. Source: ETFdb Over the last three-month period, the VanEck Vectors Junior Gold Miners ETF has encountered inflows of $249.54 million.
Domestic gold prices fell for the second day, tracking a decline in global rates after US President Donald Trump suspended stimulus talks with Democrats. Osisko has come to an agreement to spin out its 100%-owned Cariboo gold project and other assets into a new company called Osisko Development Corp. Most investors are familiar with using precious metals, such as gold, as a hedge against a weak economy, but what other benefits can an allocation to real assets provide?


There are a number of ways to buy oil from oil ETFs to oil CFD and stocks like Exxon Mobil (XOM). The crude oil market also lost more ground after the American Petroleum Institute report showed a surprise increase in crude oil supply. The overall weakness in crude oil processing spreads has been a sign of weak crude oil demand. Even more, when someone mentions Norway, the first thing that immediately springs up to economist’s heads is oil, as Norway’s economy mainly depends on oil and gas production.
Sudden problems in the oil industry directly caused the devaluation of the national currency, krone which is heavily dependent on oil and gas production.
In response to weaker oil prices, oil and gas producers slashed upstream drilling activity, as reflected in the US rig count from Baker Hughes. Crack spreads measure the economics of processing a barrel of crude oil into oil products. Hydrogen Double-Decker Buses Arrive in Europe s Top Oil City Aberdeen, Scotland, is best known as a base for some of the world s top oil companies. The table below provides some additional context by including the EIA’s annual production forecasts for natural gas and natural gas liquids (NGLs) alongside oil.
The shut-ins following oil’s collapse clearly weigh on the 2020 oil forecast.

United States

BEFORE THE BELL U.S. stock index futures rose after President Donald Trump’s abrupt call to end stimulus talks sent Wall Street tumbling in the previous session. U.S. stock index futures rose after President Donald Trump’s abrupt call to end stimulus talks sent Wall Street tumbling in the previous session. Meanwhile, market sentiments also turned bearish after U.S. President Donald Trump dashed hopes for a fourth stimulus package after abruptly halting negotiations until after the elections.
That lasted until the news came from President Trump that the stimulus negotiations were done until the election. Trump tweeted yesterday afternoon that another COVID relief bill would only go through after the election, sending stocks tumbling. Yesterday Mr. Trump announced that he was walking away from any negotiation with Democrats and was willing to wait until the election for any possibility of a stimulus bill. This is with consideration to President Trump’s announcement on Oct 6th that stimulus talks are off the table until after the election.
Trump said on social media that he has instructed representatives to stop negotiating on a deal until after the Presidential election, and disagreed with Powell’s take on the economy. Therefore, the outcome of the election could dramatically change the US energy business in the coming years. In news from the global front, the Trump administration announced new restrictions on H-1B nonimmigrant visa programme on Tuesday which it said is aimed at protecting American workers.


U.K. Foreign Secretary Dominic Raab yesterday refused to rule out boycotting the Beijing Winter Olympic Games in 2022 over alleged abuses by China of its Uighur Muslim minority. LEARN MORE Share Tweet Post Email 1:37 Share Tweet Post Email A security guard outside the Canadian embassy in Beijing last year.


We know the type of deal we want, it’s the deal that Canada has with the EU,” Truss said. Boris Johnson said last week that he was “pretty optimistic” that deal would be struck. As the Brexit talks enter their final critical few weeks, officials on both sides are voicing doubts over whether they can get a deal over the line. The EU insists that it won’t be pressured into concessions, and that they’re also preparing for ‘no deal’ and are prepared to call BoJo’s bluff.
Boris Johnson has said he wants the outlines of a deal to be clear by Oct. 15. Talks on a trade deal with the European Union are deadlocked. As infection rates surge in the UK, Prime Minister Boris Johnson’s “localized lockdown” strategy has come under attack from opposition Labour MPs, including Keir Starmer, the party’s new leader. EU ambassadors will discuss the state of play in Brussels on Wednesday.The issue they’re wrangling over is one of tiny economic significance but has huge political ramifications.
While they think some of Macron’s stance is a negotiating tactic, trust in the French president has all but evaporated, they said.
Though as we’ve learned in the past, the mood of Brexit talks can change on a time.