Agriculture
In the Asian market coming in on Wednesday the corn and wheat dipped only to a turnaround in yesterday’s U.S. trading session. In the overnight electronic session, the December corn is currently trading at 409 ¾ which is 4 ½ cents higher. The next corn for ethanol use will be the November 10th USDA reports.
Currencies
Given that interest rates are a “price”, the price of money, the Fed is essentially manipulating that price in U.S. dollar terms. Rising probability of a Biden presidency keeps weighing on the dollar, although prospects of a “blue wave” looks largely diminished. less The dollar’s rally came on the heels of the decline it witnessed on Tuesday, when markets were in a position to make a possible “blue wave” outcome. Visa is the largest U.S. card network, accounting for the largest dollar amount of credit, debit and prepaid transactions.
It is also understood that the U.S. dollar is the world’s reserve currency, which affects roughly 60% of all global transactions. I believe this is occurring because the dollar is strengthening due to the presidential elections. The third quarter saw a 4% increase over the prior quarter in net interest income, coming in at €8.17 billion (measured as constant euro). Net dollar retention was 105%. While showing GBP weakness, the strength comes mainly from the Euro strength seen all over the FX dashboard.
On the one hand, the GBPUSD is up over a hundred pips points today. However, the bigger than expected QE package did not affect the British Pound. BRZU is a 2x leveraged ETF that gives investors exposure to the Brazilian Real and the MSCI Brazil 25/50 Index.
It is also understood that the U.S. dollar is the world’s reserve currency, which affects roughly 60% of all global transactions. I believe this is occurring because the dollar is strengthening due to the presidential elections. The third quarter saw a 4% increase over the prior quarter in net interest income, coming in at €8.17 billion (measured as constant euro). Net dollar retention was 105%. While showing GBP weakness, the strength comes mainly from the Euro strength seen all over the FX dashboard.
On the one hand, the GBPUSD is up over a hundred pips points today. However, the bigger than expected QE package did not affect the British Pound. BRZU is a 2x leveraged ETF that gives investors exposure to the Brazilian Real and the MSCI Brazil 25/50 Index.
Metals
The 66% and 33% allocation strikes a good balance between gold and silver ownership, although, in the coming months, we could expect silver to outperform gold. Seen from another perspective, the data shows that SIL tends to outperform silver itself under most circumstances when we see a rise in the price of silver. Another reason to be bullish silver at this time is the clear correlation between past changes in silver and future changes in the commodity. Each firm has a different set of operations and strategies they employ to produce silver; however, all share a common revenue stream: the price of silver.
Even when gold and silver were at their recent highs, mining stocks were at historic lows (relative to metals prices) versus any previous bull market. For silver investors, the above data would say that you should look to be exposed to silver when markets are volatile. Even as the stock market and the economy continue to head in the right direction, I expect gold and silver will continue their rise up.
A major part of revenues was attributable to gold (73.66%), followed by silver (9.33%), energies (8.15%), platinum group metals (7.61%), and other mining assets (1.25%). Below, we can see the latest price action in gold and silver. For this reason, I believe investing in gold and silver directly is a wiser choice at this time. I believe both gold and silver may have bottomed on Friday the 30th, essentially retesting the September levels.
In the last few weeks, we have seen silver and gold slowly meandering with no real sense of direction. This analysis could be invalidated if we saw gold and silver fall below their previous September lows. While gold represents money, silver is everywhere around us, in the products that we use daily. We can identify, in my opinion, an initial move up to around $1,925 gold and $26 silver, followed by a classic A-B-C corrective structure. Both gold and silver are up a good +1%, and we can now see the MACD start to turn up.
If you believe those things, you don’t need gold and silver. Silver can be thought of as gold’s little brother, and both are monetary metals.
One of the best ways to do so is through the Sprott Physical Gold and Silver Trust (NYSEARCA:CEF). CEF is perhaps one of the best, easiest and cheapest to own gold and silver.
Even when gold and silver were at their recent highs, mining stocks were at historic lows (relative to metals prices) versus any previous bull market. For silver investors, the above data would say that you should look to be exposed to silver when markets are volatile. Even as the stock market and the economy continue to head in the right direction, I expect gold and silver will continue their rise up.
A major part of revenues was attributable to gold (73.66%), followed by silver (9.33%), energies (8.15%), platinum group metals (7.61%), and other mining assets (1.25%). Below, we can see the latest price action in gold and silver. For this reason, I believe investing in gold and silver directly is a wiser choice at this time. I believe both gold and silver may have bottomed on Friday the 30th, essentially retesting the September levels.
In the last few weeks, we have seen silver and gold slowly meandering with no real sense of direction. This analysis could be invalidated if we saw gold and silver fall below their previous September lows. While gold represents money, silver is everywhere around us, in the products that we use daily. We can identify, in my opinion, an initial move up to around $1,925 gold and $26 silver, followed by a classic A-B-C corrective structure. Both gold and silver are up a good +1%, and we can now see the MACD start to turn up.
If you believe those things, you don’t need gold and silver. Silver can be thought of as gold’s little brother, and both are monetary metals.
One of the best ways to do so is through the Sprott Physical Gold and Silver Trust (NYSEARCA:CEF). CEF is perhaps one of the best, easiest and cheapest to own gold and silver.
Oil
Even though natural gas moved into the withdrawal season early, the level of stocks was significantly higher than in the past two highs and above the five-year average. The metric hit a low of 1.166 million on October 29 as natural gas’s price reached the recent high and has been edging high over the past session. The previous week, the amount of natural gas in storage reached a high of 3.955 tcf, which could now stand as the high for the 2020 injection season.
Simultaneously, the percentage of natural gas in storage above last year’s level declined for thirty-one consecutive weeks, which is a sign of either increased demand or lower output. It appears that natural gas inventories will fall short of the four trillion cubic feet level at the beginning of the 2020/2021 withdrawal season. The most direct route for a risk position in the natural gas futures market is via the futures and futures options that trade on the CME’s NYMEX division. Last year, at the start of the withdrawal season, natural gas peaked at $2.905 per MMBtu in November.
This week the EIA reported its first withdrawal of natural gas from storage for the 2020/2021 peak season. Time will tell if we have already seen the high for this season at $3.396 or if natural gas will move to higher highs. The United States Natural Gas Fund (UNG) tracks the price action in the NYMEX futures market. Meanwhile, natural gas inventories had been climbing steadily and eclipsed the 2019 and 2018 highs at the end of the injection season.
The United States Natural Gas Fund (UNG) is an unleveraged product that tracks the price of the energy commodity. Bullish and bearish factors were pulling natural gas in opposite directions, but the price took off on the upside. After reaching a quarter-of-a-century low of $1.432 per MMBtu in late June 2020, natural gas moved steadily higher until late October. The decline in open interest came as the price of natural gas rose. In hindsight, natural gas fell to a price that was unsustainable on the downside in June.
In early July, Warren Buffett’s Berkshire Hathaway announced a $10 billion acquisition of Dominion Energy’s (D) natural gas transmission and pipeline assets. A blue wave where Democrats took control of both houses of Congress and captured the White House would have impacted natural gas production. Therefore, fracking is likely to continue, which will allow natural gas production to continue at the current levels.
After trading to almost $3.40 per MMBtu on October 30, natural gas was probing below the $3 level on November 5.
Simultaneously, the percentage of natural gas in storage above last year’s level declined for thirty-one consecutive weeks, which is a sign of either increased demand or lower output. It appears that natural gas inventories will fall short of the four trillion cubic feet level at the beginning of the 2020/2021 withdrawal season. The most direct route for a risk position in the natural gas futures market is via the futures and futures options that trade on the CME’s NYMEX division. Last year, at the start of the withdrawal season, natural gas peaked at $2.905 per MMBtu in November.
This week the EIA reported its first withdrawal of natural gas from storage for the 2020/2021 peak season. Time will tell if we have already seen the high for this season at $3.396 or if natural gas will move to higher highs. The United States Natural Gas Fund (UNG) tracks the price action in the NYMEX futures market. Meanwhile, natural gas inventories had been climbing steadily and eclipsed the 2019 and 2018 highs at the end of the injection season.
The United States Natural Gas Fund (UNG) is an unleveraged product that tracks the price of the energy commodity. Bullish and bearish factors were pulling natural gas in opposite directions, but the price took off on the upside. After reaching a quarter-of-a-century low of $1.432 per MMBtu in late June 2020, natural gas moved steadily higher until late October. The decline in open interest came as the price of natural gas rose. In hindsight, natural gas fell to a price that was unsustainable on the downside in June.
In early July, Warren Buffett’s Berkshire Hathaway announced a $10 billion acquisition of Dominion Energy’s (D) natural gas transmission and pipeline assets. A blue wave where Democrats took control of both houses of Congress and captured the White House would have impacted natural gas production. Therefore, fracking is likely to continue, which will allow natural gas production to continue at the current levels.
After trading to almost $3.40 per MMBtu on October 30, natural gas was probing below the $3 level on November 5.
United States
On the economic side, the US private sector employment increased by much less than expected in October, according to a report issued by the payroll processor ADP. It’s still unclear whether President Donald Trump or former Vice President Joe Biden had won the election as the vote count continued. He and his colleagues have been quite clear that the Fed would prefer some fiscal stimulus to aid their efforts to boost the economy. Given the winter weather volatility, we continue to view gas-on-gas competition in both the domestic and export sectors as a necessary mechanism to balance the US market this winter.
The one thing that seems certain is the less Congress and the White House—whoever controls them—do on the fiscal front, the more stimulative Fed policy will become. What I previously wrote deserves repeating: Thus, polls indicate that the unending attacks on Trump and his supporters in the media are not conditioning but, instead, are repelling voters.
The stock closed at $141.96 on Wednesday.If a leading technology stock is a good fit for your long-term dividend portfolio, then Microsoft (NASDAQ:MSFT) is the best bet. Not to be outdone, weeks later payment processor PayPal (NASDAQ:PYPL) announced it would allow users to buy, hold, and sell Bitcoin directly in their PayPal accounts. less As universally expected, the Fed left interest rate policy unchanged. The Fed has long led us to believe that lower interest rates produce economic growth and prosperity.
Many voters may still view both Trump and Biden as over-inflated clowns, but they resent being continually conditioned to hit one clown and hug the other. Even if Trump files lawsuits across the nation, that would be too big of a margin to legitimately dispute. In fact, according to Pew Research, “overwhelming shares of voters who are supporting Trump and Biden say they are also supporting the same-party candidate for Senate.” The Wall Street Journal reported last week that the transaction was facing legal jeopardy, with the department making preparations for potential litigation.
Companies like Ulta (NASDAQ: ULTA) have done just fine without having many brand name products but Tilly’s has nowhere near the size or lack of competition that Ulta has. Some polls show that the only group deemed less trustworthy than Trump is the media. The US ISM Services PMI fell to 56.6 in October from 57.8 in September, still above the 50 level reading, indicating growth in the services sector.
Envestnet is the largest US TAMP by assets under management, with 42% of the US advisory market’s assets on its platform at $182bn. For bookkeeping and taxes, I would recommend Intuit (NASDAQ:INTU), although I personally let that pitch go by, so to speak. The censorship comes after a number of Trump’s own tweets alleging “fraudulent” activity and that the election is being “stolen” from him have been slapped with labels by Twitter.
The one thing that seems certain is the less Congress and the White House—whoever controls them—do on the fiscal front, the more stimulative Fed policy will become. What I previously wrote deserves repeating: Thus, polls indicate that the unending attacks on Trump and his supporters in the media are not conditioning but, instead, are repelling voters.
The stock closed at $141.96 on Wednesday.If a leading technology stock is a good fit for your long-term dividend portfolio, then Microsoft (NASDAQ:MSFT) is the best bet. Not to be outdone, weeks later payment processor PayPal (NASDAQ:PYPL) announced it would allow users to buy, hold, and sell Bitcoin directly in their PayPal accounts. less As universally expected, the Fed left interest rate policy unchanged. The Fed has long led us to believe that lower interest rates produce economic growth and prosperity.
Many voters may still view both Trump and Biden as over-inflated clowns, but they resent being continually conditioned to hit one clown and hug the other. Even if Trump files lawsuits across the nation, that would be too big of a margin to legitimately dispute. In fact, according to Pew Research, “overwhelming shares of voters who are supporting Trump and Biden say they are also supporting the same-party candidate for Senate.” The Wall Street Journal reported last week that the transaction was facing legal jeopardy, with the department making preparations for potential litigation.
Companies like Ulta (NASDAQ: ULTA) have done just fine without having many brand name products but Tilly’s has nowhere near the size or lack of competition that Ulta has. Some polls show that the only group deemed less trustworthy than Trump is the media. The US ISM Services PMI fell to 56.6 in October from 57.8 in September, still above the 50 level reading, indicating growth in the services sector.
Envestnet is the largest US TAMP by assets under management, with 42% of the US advisory market’s assets on its platform at $182bn. For bookkeeping and taxes, I would recommend Intuit (NASDAQ:INTU), although I personally let that pitch go by, so to speak. The censorship comes after a number of Trump’s own tweets alleging “fraudulent” activity and that the election is being “stolen” from him have been slapped with labels by Twitter.
China
Tier-one cities like Shenzhen and Beijing’s core areas have been fully covered with 5G networks.
Europe
First, it has been preparing to reinstate a dividend as soon as the ECB will allow for it.
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