Daily Close | Forex, Metals, Oil, Agriculture December 23, 2020



less General Comments: Winter Wheat markets were higher and held higher prices all day. The Russian Wheat export tax is being passed onto farmers by the exporters and farmers are not selling. Minneapolis Spring Wheat contracts also closed a little higher for another day.


An increase in material costs is the most likely option, as the dollar will likely decline in value against the price of copper, which is used to make brass. The dollar had surged in a flight-to-safety trade when governments around the world locked down their economies because of the surge in coronavirus cases in the first quarter. The big question for FX markets ahead of the 2021 open is whether the US Dollar has more room to go. (Vista already mentioned a $1Billion dollar backlog about two months ago!)
For a $1.2 Billion dollar company, this is a high amount of debt. It’s down 7% for 2020.Against the euro, the dollar has fallen nearly 15% since March.


Source: Silver Spike/Weedmaps presentation The stock deal values the company at an EV of $1.4 billion based on a $100 million cash balance. Source: Lumen Technologies, Inc. Investor Presentation Currently, however, fiber-based growth is obfuscated by copper-based declines in Lumen’s financials. Source: Silver Spike/Weedmaps presentation These numbers are intriguing considering no assumptions for new state approvals in the next few years. Instead of requiring financial analysis, why not simply break out the fiber-optic cable sales from copper-based ones?
The sector’s strength in 2020 is, in part, due to sustained gold prices. Source: Silver Spike/Weedmaps presentation The business doesn’t lack for competition. Tamara L. Lundgren, chairman, president, and chief executive officer, Schnitzer Steel Industries, Inc., Portland, Oregon, named Deputy Chair.


We keep hearing about the possibility of “running out” of oil, but this is not really the issue with oil. The main reason for a bullish continuation in the stock market in risk-on mode is also bullish looking Crude oil, which has an unfinished five-wave cycle. The company also recovers and converts used cooking oil and bakery remnants into feed and fuel ingredients. Bullish continuation on Crude oil may cause more weakness for the USD/MXN pair since we know they are in negative correlation.
Many people believe that the economy will start going badly wrong when we “run out of oil”. less Today we will talk about risk-on sentiment and how to take it into account when analyzing Crude oil and USD/MXN. Our assessment is because low oil prices are destroying them. In fact, it is not the issue with coal or natural gas, either.

United States

The trade war with China, along with the Fed raising rates, offset some of the benefits of lower corporate tax rates and reduced regulations. One stock seeing notable options activity today is after the company announced fiscal second-quarter earnings and revenue that beat Wall Street’s estimates. The way I understand it Avepoint is a third-party software provider that helps enterprises migrate their data to cloud platforms, in particular Microsoft’s (NASDAQ:MSFT) cloud.
In order of size, Equinix (NASDAQ:EQIX) and Digital Realty Trust (NYSE:DLR) are the largest companies, with $64 and $36 billion in market cap, respectively. Trump called the package an “unsuitable disgrace,” and urged lawmakers to make changes, including increasing the amount of direct payments to $2,000 from $600. Also, being among the first publicly-listed Chinese fintechs, the company has been increasingly recognized by the US investors, just as the stock price has reflected.
Then there are three smaller players, CyrusOne (NASDAQ:CONE), CoreSite Realty (NYSE:COR), and QTS Realty Trust (NYSE:QTS), all trading below the $10 billion market cap level. I thus believe Smartsheet will follow in Dropbox’s (NASDAQ:DBX) footsteps and see growth slowing quickly within the next few years. The latest deal involves the (NASDAQ:SSPK) SPAC acquiring WM Holding Company, LLC, well known operator of Weedmaps. The US currency put in a run of strength as the pandemic was getting priced-in during late-February and early-March trade.
less Stocks are higher this afternoon, despite U.S. President Donald Trump’s criticism of the .
I think it’s fairly obvious that their largest EV customer is Tesla (NASDAQ:TSLA). Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more. Now, his subjects are fed-up and rebelling.


His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc.