Close: London Session | Forex, Metals, Oil, Agriculture October 13, 2020



less Uptrend scenario An uptrend will start as soon, as the soybean market rises above resistance level 1046, which will be followed by moving up to resistance level 1063. Bearish trend continued in sugar market on Tuesday. Cortisol plays a variety of roles in the body from responding to stress, maintaining blood pressure, regulating sugar, and reducing inflammation. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.
Coffee may revisit its September high while cocoa its July low. The December corn is currently trading at 390 ¾ which is 1 ¾ of a cent higher. The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,246-3,302 and M-grade 3,310-3,462.


Another catalyst for a decline in commodity prices, equities, and ultimately bond yields would be a rise in the U.S. dollar. If US index futures turn negative during European trading, the dollar can be expected to lock in gains amid the recent imposition of pandemic containment measures. The arrival of dollar chana in Indore mandis today was recorded at 5,000 bags against 25,000 bags in mandis across Madhya Pradesh. Much of the bulls rallying cry has been based on the dollar weakening with the onset of QE.
Agora is already cash-flow positive and has reported a stunning dollar based net expansion rate of 183%. As a Biden victory looks more likely, this could spur on the dollar as it would sharply raise the probability of a fiscal package being agreed upon. Gold steadied, although gains were capped by a firmer dollar. Gold steadied, although gains were capped by a firmer U.S. dollar. The euro and other major currencies rose against the dollar amid a rally in US equity indices.
The prices of gold declined slightly on Tuesday as the U.S. dollar recovered.


Gold ETF holdings increased by 68.1 tons last month, despite the metal’s worst monthly price performance since November 2016, according to data released by the World Gold Council. 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. Inflows of gold into ETFs are significant in their effect on the world gold market, pushing overall demand higher. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions.
The World Gold Council projects continued growth in gold investment, noting that the September pullback was likely “tactical” in nature. Downtrend scenario The downtrend may be expected to continue, while gold is trading below resistance level 1928, which will be followed by reaching support level 1893. During that fiscal year, the company produced a total of 179,457 ounces of gold at all-in sustaining costs (AISC) of $1,078 per ounce.
less Uptrend scenario An uptrend will start as soon, as gold rises above resistance level 1928, which will be followed by moving up to resistance level 1952. Downtrend scenario A downtrend will start as soon, as gold drops below support level 1920, which will be followed by moving down to support level 1848. Downtrend scenario A downtrend will start as soon, as gold drops below support level 1795, which will be followed by moving down to support level 1500 and 1350.


Libya’s largest oil field will flood the world with oil, and somehow oil is higher. Peak oil The Paris-based International Energy Agency said that the pandemic will have a permanent effect on global oil demand. While the oil industry has been severely hurt by the unprecedented collapse in the demand for oil products, the renewable energy business has remained resilient. Ok, maybe not peak oil demand but at least a near-term peak in oil imports. Perhaps because the markets are digesting Libyan oil’s real impact, or perhaps it is because Chinese oil imports continue to sizzle.
Shut offshore crude oil production fell to 69.4%, or 1.28 million barrels per day (bpd), on Monday from 91%, or 1.68 million barrels, on Sunday, the regulator said.
Downtrend scenario A downtrend will start as soon, as the crude oil market drops below support level 38.70, which will be followed by moving down to support level 36.60. The Energy and Chemicals segment focuses primarily on the oil and gas industry which is currently in shambles due to the effects of the coronavirus pandemic. Slower demand growth lowers the outlook for oil and gas prices compared with pre-crisis trends.
Moreover, the Canadian oil (and natural gas) industry is active in twelve out of thirteen Canadian provinces.

United States

US stock futures are trading mixed today with Nasdaq Futures trading up by 21 points (up 0.2%), while Dow Futures trading down 40 points (down 0.1%). Stock futures tumbled on election night in 2016 with investors concerned Mr. Trump’s victory would hurt corporate earnings because of his unpredictable policies and advocacy for barriers to trade. Further, the company’s valuation multiple is more than likely to keep expanding, as investors appreciate the safety of Nasdaq’s stable cash flows, willing to pay a higher price.
Grant reminds that central banks like the Fed are essentially new branches of government and that a powerful combination of central bank currency creation and extreme fiscal policies (i.e. He warns, however, how the vast majority of election-focused politicians have conveniently confused the Fed-supported stock market with the collapsing economy, a tempting yet dangerous mistake. However, the actual growth should end up being quite higher, since Nasdaq has been acquiring other companies as well.
The US stock market overall, based on SPDR S&P 500 (SPY), is ahead 55.3% since the coronavirus-crash low. Nasdaq Futures are trading up by 95 points (up 0.8%), while Dow Futures are trading down by 95 points (down 0.3%). Wall Street typically uses some sectors or other assets that would be impacted by different policies to build broad election baskets associated with each political party. Tech giants like Apple (Nasdaq:AAPL) and Amazon (Nasdaq:AMZN), and large media companies like NBC Universal (Nasdaq:CMCSA), Disney (NYSE:DIS) and Warner Media (NYSE:T), have entered the space with force.


Apparently, that philosophy also extends to antitrust policy.Five years ago, U.S. officials were routinely asking the European Union to defend its intentions of cracking down on American internet giants. The EU, which has perhaps made the most impressive strides in terms of activating its ability to spend, has had challenges getting its recovery fund going. Meanwhile, EU leaders will discuss preparations for a potential collapse of trade talks with the U.K. at a summit later this week.
The U.S. s agenda to rein in tech giants could end up helping the EU. With the deadline looming to sort out the Brexit arrangements and arguments continuing with Brussels, it s unlikely to get any better for him soon. In addition, ECB President Lagarde has also continued to call for governments to prolong fiscal support. Boris Johnson yesterday revealed a three-tier system to help limit the spread of the coronavirus. Dress rehearsal | Faced with the double challenge of Brexit and Covid-19, U.K. supply chains are bracing for a chaotic winter.
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