Daily Close | Forex, Metals, Oil, Agriculture December 09, 2020



Reports indicate that some Cotton could have been damaged in Georgia and the Carolinas and into eastern Virginia due to the excessive winds and rains caused by the hurricanes. less General Comments: Winter Wheat markets were a little lower in response to cheaper Corn futures and a lack of market-moving Wheat news. Overnight News: The southern Great Plains should get dry weather then scattered showers starting Thursday.


With that in mind, here are two EM funds to consider as the U.S. Dollar Index weakens:The provides exposure to a range of large-cap and mid-cap emerging market firms. Using Dollar Cost Averaging (DCA), where you buy a fixed dollar amount of shares at regular intervals, would likely improve those values. What all this means for the market is that as the federal debt soars, Gundlach said his greatest conviction call remains a weak dollar. That started early this year, as the dollar went from 103 to 91 on DXY index, weakening particularly against the euro and some emerging-market currencies.
As the global economic rebound ramped up, the US dollar fell in value relative to other currencies (see Exhibit 4). Investing.com Follow The U.S. dollar has been on bearish footing against a wide range of currencies. The U.S. dollar has been on bearish footing against a wide range of currencies. However, positive GDP results, optimism regarding the Coronavirus vaccine, and further Dollar weakness were a few factors that contributed to an increase in the demand for the ZAR.
This means that as inflation erodes the value of a single dollar, your assets need to gain accordingly. He had hundred dollar bills hidden all throughout his home because he never trusted banks with his money. It’s carnage in the momentum names… And the dollar is soaring… Did DASH just mark the top for the IPO idiocy… Look what you’ve done Jay! Many now wonder whether the U.S. Dollar Index will break down below the $90 level.
Source: Toll Brothers Bloomberg notes demand for million-dollar homes is accelerating faster than any other tier in the housing market this year.


The next year is likely going to see higher silver prices as silver momentum carries forward. If you already own some silver or silver stocks, but feel like you need more, the same applies. Silver is likely going to head higher in the short term due to seasonality. Source: Author’s calculations of LMBA data In the short term, I believe that PSLV is likely going to rally on silver’s strength. I believe that in both the short and long term, an investment in silver is likely going to shine.
Notice that in both 1980 and 2011, silver’s percentage gains were markedly higher than gold’s, easily outpacing the yellow metal. This said, I also believe silver is headed higher in the longer term based on momentum tendencies. Very few investors purchase silver (either physically or financially) with little thought as per where the price of the commodity is likely headed. If you don’t own any silver, now looks like a great time to layer in, buying in regular intervals over the next weeks or month.
In my opinion, PSLV is likely headed higher due to the underlying silver fundamentals. As per probabilities, the data shows that silver has increased in 62-75% of all years following similar price movements. When compared to gold, the silver price has a lot of catching up to do. Put simply, this data shows that it’s a pretty strong time to add silver to the portfolio. One of the key short-term metrics I utilize for studying silver is the historical probability that any given month experienced gains or losses.
At the same time, both the RSI and MACD have been trending higher since silver’s first test of $23 in late September.
Another key benefit of PSLV is that shareholders can actually redeem their holdings for physical silver (on a monthly basis and subject to minimum redemptions). In my view, as far as investment assets go, silver still remains amongst the most undervalued. PSLV is a somewhat unique silver trust in that it holds allocated accounts and allows physical delivery of the commodity. At the time of writing, silver has rallied by about 40-45% over the past year.
Just consider, of all the assets out there, silver looks amongst the cheapest by several metrics.


less Do you also think — just staying on that path of oil — veggie oil, do you think that palm oil is a potential solution? We also write daily and weekly reports, covering key variables in U.S. natural gas market (supply, demand, storage, prices and more). The oil trading portfolio is designed to take advantage of short-term long/short oil trades in the market. Source: Bluegold Research estimates and calculations This week, the U.S. Energy Information Administration should report a larger change in natural gas storage compared to the previous week.
However, over the next seven days, natural gas consumption (7-day average) is projected to decrease by 2.3% (from 101.5 bcf/d today to 99.2 bcf/d on December 16). Total average daily consumption of natural gas (in the contiguous United States) should be somewhere between 98 bcf/d and 100 bcf/d. Clearly a key concern is what happens to the dividend which is probably unsustainable at the current price of oil and with Exxon’s current cost structure.
The key to a stable and steady oil recovery will still have to be demand-led. We launched our oil trading portfolio in 2019. Either way, the near-term price trajectory for oil is to $49/bbl once WTI passes $46.20. This is a very desirable outcome for the oil company. Holiday travels were down due to COVID-19 restrictions, and imports/exports mismatch on the crude side was going to have inventories build on all fronts. Source There you have a double-barrel thesis to buy into Core at prices slightly lower than where they are now.
EIA reported massive builds on crude, distillate, and gasoline.

United States

In such a scenario, the only thing that could prevent a spike in rates would be yield-curve control, whereby the Fed would purchase longer-dated bonds, according to Gundlach. Though DoorDash isn’t the first food-delivery company to debut on US markets (Uber’s Uber Eats is the standard), the company has roughyl 50% market share in the US. Wall Street banks and electronic trading firms use such data to predict short-term price moves and ensure that they get good prices when buying or selling stocks.
equities) could diverge quite significantly from fundamentals amid the massive Fed intervention and the strength of the FANG stocks in the COVID-19 environment.
After all, if investors were concerned about inflation, why would they be willing to loan money to the US government for 10 years at 1%? DoorDash is among the few options available to consumers and the company’s ability to keep consumers happy and fed will result in a certain level of stickiness exiting Winter. Figure 2 (right frame) also shows the spectacular co-movement between the SP500 P/E and the Fed balance sheet assets, especially since March.
The company reported earnings that failed to impress Wall Street investors, missing on revenues and earnings per share. Historically, the Reservoir Description business has fed off the long cycle mega project work so common up till a few years ago. The bond market is not working the way it has in the past because the Fed is artificially manipulating interest rates. The limits imposed by UPS highlights how the influx in packages has put its shipping network under stress and its commitment to putting its regular customer base first.
He pointed to the NY Fed’s Underlying Inflation Gauge which has reliably predicted inflation, and it is showing very subdued inflation pressure. This has caused online shopping to surge to the point where UPS was forced to impose shipping restrictions on major retailers. Also, the Fed is trying to maintain these excess stock market valuations. So far this morning, there are two stocks, in particular, showing some bearish interest: United Airlines Holdings Inc (Nasdaq: UAL) and American Airlines Group Inc (Nasdaq: AAL).
Meanwhile, several other Wall Street analysts raised their price targets on Disney ahead of its investor day meeting planned for Thursday. The (NASDAQ:FINX) is designed to track the Indxx Global FinTech Thematic Index and does so by investing in companies that are disrupting existing financial services and banking business models. So, the Fed is not looking at Treasury bonds yielding under 1% and thinking, ‘Wow, this is a lousy buy.
The Fed has to keep interest rates at rock bottom so people can afford to pay. They can buy dips in the market knowing that if worse comes to worst, they can always sell to the Fed.


At this time, we await further information about EMA’s investigation and will respond appropriately and in accordance with EU law.