Close: London Session | Forex, Metals, Oil, Agriculture September 03, 2020



890 for 10 kg.Similarly, groundnut, cotton and palm oils were also quoted higher on strong global cues with groundnut oil (Indore) here today. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit. USDA said that net Upland Cotton weekly export sales were 131,500 bales this year and 0 bales next year. Whilst this provided a short-term sugar hit, it only exacerbated the previous issue of their dividend payments choking their cash flow, which is arguably just as severe a problem.
Cotton oil (Gujarat) was also quoted up at Rs. General Comments: Cotton closed a little lower but held the recent trading range. Sugar prices ruled mix on Thursday on ease supply, demand and volumes. On Bombay Sugar Merchants Association’s spot rates (Rs/Quintal): S-grade Rs.


Depressed crude oil inventory figures has led to a rise in Canadian Dollar (CAD)strength of recent despite broader US Dollar gains – oil being one of Canada’s major exports. Some of the currencies under review are the Aussie, the New Zealand Dollar and the US Dollar. The US dollar is firm against the Canadian dollar. The US dollar basket is a measure of value against a basket of six other currencies, including the Euro which has a dominant weighting of 57.6%.
FOREX: The dollar’s bounce extended as investors trimmed bets against the greenback and sold the euro on concerns that the European Central Bank was worried about its rise. European shares jumped and the euro pared losses after France introduced new stimulus measures and final PMI releases in Germany and the euro area beat flash readings. The dollar may continue to catch a bid, especially if the ECB is intent on focusing on the euro. Europe There are three main talking points in Europe today: France’s new 100 bln euro initiative, the PMI, and the Financial Times story about the ECB and the euro.
The US dollar is continuing to recover after hitting new lows earlier in the week. So while the combined bank should have higher charge-offs (in dollar terms) during an economic downfall, this basically unchanged credit profile (in percentage terms) is a remarkable feat.


Gold 7 days Gold 14 days Gold 1 month Gold 3 months Gold 6 months Gold 1 year The price of turmeric were stable on Thursday. The inferred resources contain further 2.76 million toz gold, 189.73 million lb copper, and 3.91 million toz silver, or 3.15 million toz of gold equivalent. With an after-tax NPV (5%) over $1 billion, the Troilus Gold project looks good at the current gold prices. According to the PEA, the cash costs should average $919/toz gold and the AISC should average $1,051/toz gold.
At the current share price of $1.16, the market capitalization of Troilus Gold equals approximately $133 million and the enterprise value is slightly above $100 million. Gold Daily Gold found support at the bottom of its rising channel. Over the last 8 years, the average annual production should be lower, only around 100,000 toz gold per year. If the two zones are connected, the resources will grow by several million toz gold in this one area alone. It is a reasonable price tag for a long-life mine with annual production volumes over 200,000 toz gold.
At a gold price of $1,350/toz, the after-tax NPV (5%) equals $419 million and the after-tax IRR equals 18.2%.


Nigerian state oil company issues tender for annual crude oil contracts – document Nigerian state oil company NNPC on Wednesday issued a tender for its annual crude oil contracts. For the region’s big oil producers—already reeling after a flood of excess oil pushed some prices below zero in April—a few aging assets likely in line for a makeover. Oil Daily The price of oil blew out a potentially bullish pennant, as it fell through the bottom of a rising channel.
As the U.S. becomes a net exporter, the world’s demand for oil and natural gas becomes much more important. Oil prices extended a drop for the second day, falling to more than a monthly low on lower U.S. refinery demand projections.
If these two emissions sources were ever to converge, it would likely require both a significant ramp-up in gas consumption and a significant decline in oil consumption. This distribution of assets is essential to the oil and natural gas industries and defines the security of the company’s future cash flow. Crude Value Insights offers you an investing service and community focused on oil and natural gas.
As the world’s population continues to industrialize, oil and natural gas consumption can be expected to grow dramatically. However, its refinery and trading business alleviated the severe adverse effect of the COVID-19 induced drop in oil and gas prices.

United States

But this time, the inflation would need to be much higher before the Fed would return to increasing interest rates. Fed Chair Jerome Powell told us last week they will let inflation run higher than “normal” to make up for stubbornly “below average” inflation for some time. The growth prospects that are associated with the US cannabis market are much more attractive than the Canadian market and we expect the ETF to generate significant traction. Last week saw Fed Chair Jay Powell unleash “inflation averaging” which appeared to embed a “whatever it takes” mantra into The Fed’s mandate to raise inflation and ignore it.
Financial market participants have taken a wait-and-see attitude before the US labor market report for August, which will be published tomorrow. The leading performances for the growth and momentum buckets in the US stock market continue to pull ahead, based on a set of exchange-traded funds. The last time the Fed started increasing interest rates it was in late 2015 when inflation was running at 1.5% and unemployment was 5%.
Optimists are talking about – which has nothing, n-o-t-h-i-n-g, to do with the US election two days later, honest; I mean who would write that script?! less How has the US stock market performed so far this year? The firm also downgraded UPS and said the market is getting too “overexuberant” about e-commerce growth at the shipper.


It follows multiple rounds of high-level military talks with Beijing that failed to end the recent standoff over the two nations’ disputed border. The five-year plan is focused on supporting third-generation chips as Beijing becomes increasingly concerned by U.S. moves which could threaten supply of the crucial components. Beijing plans to bolster its own semiconductor sector over the next five years, people familiar said. But the question is, can it stay that way much longer if Beijing keeps finding Aussie exports to punish.
Speaker Milos Vystrcil is under fire both from Beijing and politicians at home for traveling to Taiwan, which China sees as a renegade province. That same month Beijing placed crippling tariffs on the grain. Air China Flight CA746 (Phnom Penh-Beijing) landed at Beijing Capital International Airport at 6:57 am BJT on Thursday.


Macron’s new initiative has long been touted and marks a shift from the pandemic focus to broader economic goals to boost investment and jobs. The key question is how ECB President Lagarde addresses the situation either in her prepared comments after next week’s meeting or in answer to questions from the press. The main risk to this view is if the ECB decides to unveil new monetary easing measures already next week. Merkel has defended NordStream as a necessity to secure adequate fossil fuel supplies, even as Germany and its European allies work toward a ‘fossil fuel-free’ future.
David Merkel is an investment professional, and like every investment professional, he makes mistakes.
Approaching the final year of her chancellorship, Merkel is finally pushing Germany to overcome its postwar reticence and play a bigger role on the international stage. David J. Merkel, CFA — 2010-present, I run my own equity asset management shop, called Aleph Investments. But during almost 15 years in office, Merkel has acted as Putin s bridge to the west, consistently encouraging dialogue with Russia over its isolation.
By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching. Since June, he s lost one minister to a drunk-driving scandal and another quit along with Ireland s EU Commissioner after breaching Covid-19 restrictions.