Close: London Session | Forex, Metals, Oil, Agriculture September 25, 2020



“The lab in the city’s Songshan Lake area is a steel structure and the main material burning is sound-absorbing cotton,” Dongguan city fire-rescue department said in a statement.


The dollar took a beat, as investors ran away from the dollar and bought other alternatives. The euro closed 0.08% higher yesterday, as it managed to turn around an unpleasant week against the dollar. Gold has been under pressure this week as the US dollar is being seen as the preferred safe-haven asset amid renewed risk aversion in global financial markets. The dollar was on track for its best week since early April, driven by risk aversion. The U.S. dollar was on track for its best week since early April, driven by risk aversion.
To reiterate: July economic concerns continue, first real challenge in dollar tightening since June, with several key indications being folded into that negative mix. The greenback has seen firm buying over the week as safe-haven flows move into the dollar and away from gold. The dollar rallied from a low at the start of the week near MXN20.8450 and peaked yesterday near MXN22.70, before reversing lower. The US dollar’s eight-week slide against the Chinese yuan, the longest in more than 2 1/2 years, ended this week with about a 0.75% advance.
Dollar’s best week since April shows it’s still the haven of choice.


Domestic gold prices eased today as doubts over the yellow metal’s festive demand continued to outweigh other factors, including an uncertain global economic outlook and rising unemployment. Such withdrawals are seen putting additional pressure on silver prices.Notwithstanding the current sell-off, gold has the potential to bounce back as the positive risk-off environment has not changed. While gold continues to attract ETF inflows, silver ETFs are witnessing massive outflows from the beginning of this month estimated at about 750 tonnes.
Tracking the moves in gold, silver prices have moved lower. If broken, this could pave the way for a much fuller reversal lower in gold prices. They buy gold, silver, Bitcoin, etc., in the hope that their alternative investments offer protection to the portfolio. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. Meanwhile, oil prices slipped, and gold lost ground.
In 2008, just before the Great Financial Crisis, gold reached a new all-time high. Gold made a new all-time high this year.


SBR is essentially a function of crude oil and natural gas since it generates royalty income based on crude/ng prices and sales volumes. Relative to oil, natural gas and natural gas liquids have been a bright spot in energy. However, in mid-2014, the price of oil began to collapse due to the boom in the U.S. shale oil production. less Oil prices are about to end the week negative as fuel demand declines due to rising coronavirus infections, adding to concerns about Libya’s resumption of exports.
If this continues, the price of crude oil will close its first negative month since April. SBR has declined recently, first due to the collapse of oil prices in spring and even more recently due to the smaller decline this month. Crude oil was at a similar price back then due to a temporary global economic slowdown. There is also the popular crude oil futures ETF (USO), but contango and fees have caused that fund to lose 95% of its value since inception.
Demand has since stabilized, but production has declined around the world, resulting in storage drawdowns that are beneficial for oil prices.
Reuters reported that U.S. natural gas futures jumped 5% on Thursday as output continues to slide while liquefied natural gas exports rise.

United States

The article was written exclusively for US index futures, including the Dow, S&P and NASDAQ, fell overnight, so far unable to build on the mild gains from Thursday. Amazon (NASDAQ:AMZN) showed off a host of new devices at its online hardware event on Thursday, including spherical Alexa speakers and two new Fire TV products. Over the last several years, the Vanguard Information Technology ETF has outperformed almost every other tech ETF out there, including the NASDAQ 100 ETF QQQ.
However, despite this, some fed members this week have suggested that the bank could still hike rates as inflation hits 2%. What’s more, several European countries have already extended their fiscal stimulus support and there is a good chance the US government will follow suit. “We never had this [decline] in the year leading up the Nasdaq crash,” said Cramer, who has been skeptical of drawing parallels between the coronavirus rally and 1999. The US seems to have fared comparatively better, nothing new, but after accelerating in August, the flash estimate (composite) for September slipped.
The US seems to have fared comparatively better, nothing new, but after accelerating in August the flash estimate (composite) for September slipped. Nasdaq Futures are trading down by 34 points (down 0.3%), while Dow Futures are trading down by 79 points (down 0.3%). This is somewhat expected as the summer driving season in the US has come to an end and the impending switch to winter specification fuel gets underway.


Disney was slammed for shooting the $200 mln movie in restive Xinjiang, yet the release was widely panned in China too. That makes President Xi Jinping s declaration to the UN General Assembly this week that China plans to achieve carbon neutrality before 2060 all the more surprising, and significant. Beijing s new target seems to have come despite current politics in Washington, not because of them. Beijing is also unhappy.


She said legislation is required to close the tax loopholes and ensure transparency, in a call to EU countries to revamp rules. UK Prime Minister Boris Johnson said the country My deepest condolences go to the family, friends and colleagues of the police officer who was killed in Croydon last night. Bracing for Brexit | A sense of urgency is dawning in European Union board rooms as talks over a post-Brexit trade deal head into the critical end-game. Police chiefs from across the UK sent tributes to the fallen officer, and PM Boris Johnson took a brief break from the ongoign COVID-19 emergency to deliver a statement.
Read the view Feature: How to build a European JPMorgan An EU bank of the U.S. behemoth s size could help ensure reliable corporate funding and more tech investment. AstraZeneca has secured the European Union’s backing in a confidential agreement which reflects the lower price sought by the British drugmaker, the official said. Data from the trial – likely over the next four to six weeks – will support regulatory submissions for license in the UK, EU and other countries.
Separately, ECB Governing Council member Villeroy seemed to make a passionate appeal that “close to but below 2%” inflation target has been misunderstood. Villeroy says ECB should consider tweaking its inflation goal. His feature articles have been published on:,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc.