Daily Close | Forex, Metals, Oil, Agriculture September 07, 2020



Soft commodities such as coffee, sugar and cocoa have rallied over the past few weeks.


With value pricing being the order of the day, we should see Family Dollar revenues keep growing faster than Dollar Tree over the remainder of fiscal 2020. Oil ultimately trades on its own fundamentals, though implied inflation and the value of the US dollar are recognized by the market at the margin. Comps growth rates at Family Dollar and Dollar Tree were up 11.6% and 3.1%, respectively, with enterprise comps growth coming in at 7.2% over the prior period.
Last week the value of the Euro reached $1.2000 for a short time, although the price dropped off to $1.1842 at the close of the week. The oil price recovery has coincided with a rise in implied inflation and a weaker dollar. The decline in the US dollar has also failed to provide any significant support, as has OPEC, as the ongoing global pandemic continues to dominate. However, that will also result in slower margin expansion because Dollar Tree is stronger on margins. Dollar Tree’s low-cost/high-value business model and product mix are well suited to the needs of a large percentage of the U.S. population.
The value of the Euro could grow even stronger. The general market feeling is that, if anything, the price of the Euro should rise further. Will she try and “talk down” the Euro?


With Peru’s silver production declining in July, this could cause more issues in the silver market as investors continue to move into the shiny metal. While this doesn’t move the needle much for Austral Gold in terms of total ounces, this is an exceptional deal for the company, especially at current gold (GLD) prices. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored.
While Austral Gold (AGLDF) was not hit as hard as some miners due to COVID-19, a workers’ strike weighed considerably on production at the company’s Guanaco and Amancaya mines. This would be a positive development for the company as we generally see a premium assigned to debt-free gold producers, and especially those in Tier-1 jurisdictions. less Precious metals investors are wondering if the Silver Rally will continue in September. However, silver tried to surpass the $29 level but fell last week along with the broader markets.
While this has since been resolved, gold-equivalent ounce (GEO) production fell by 46% in the quarter, with costs soaring to $1,255/oz. As you can see, once silver broke above the $26 level in late 2010, it remained above it until 2013. So, the trend for silver in September may rely upon the broader markets. After the silver price reached nearly $30 in August, it has been consolidating lower over the past few weeks. I discussed this in my newest YouTube video update, Another Big Month For The Silver Price?
In the video, I explain some of the forces that will impact the silver price in September. This is a new revenue stream for Austral Gold. The best regions are North America, Sub-Saharan Africa (GOLD), and South Asia (WNS) (WIT).


For now, the uptick in implied inflation is supportive to oil prices, but is not sufficient, of itself, to pull prices higher. Beyond rotating out of technology and growth into value and cyclical stocks, we continue to be particularly positive on natural gas stocks. Therefore, associated natural gas production – a common byproduct of oil drilling – has declined significantly. Longer term, oil will only be supported, or strengthen further, if excess inventories are worked off, refining margins improve, and product demand recovers.
The combination of structural supply constraints and the economic recovery will lift natural gas companies and end a 15 year bear market on the cleanest of fossil fuels.
Oil prices have partially recovered from April lows, when the expiration of the May WTI contract pushed them into unprecedented negative territory. Due to the double Black Swans of OPEC+ and COVID-19, energy stocks have been devastated and oil drilling has collapsed. Plus, the link between crude oil and US inflation, and more. Also worth noting is that , from oil to…well, fish.

United States

This new Fed policy shift could reverse nearly four decades of abnormally high stock and bond returns. As the coronavirus impact eases, the Fed could fine-tune its balance sheet strategy to address financial market imbalances (even more carefully than before). On 27 Aug, Fed Chair Powell announced a new monetary policy framework in his Jackson Hole speech: the Fed will adopt average inflation targeting. The investment management dogma of the 60/40 stock bond allocation model is being undermined by this Fed’s new policy.
Investors should closely monitor the impact on Fed policy of the melt-up in asset prices and excessive corporate debt problem. In this report we discuss how the Fed plans to address the imbalance of financial markets. The release of the WSJ story describing Boeing’s latest woes comes as the US is on holiday with financial markets closed. The Fed’s balance sheet began to shrink from June, but tech stock valuations have continued to soar amid improving economic sentiment (ISM/PMI).
He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. In July the company had an occupancy rate of 97.8% and 97% of all rental billings were collected which was pretty impressive given the unemployment situation in the US. As a result, Wall Street gave a subdued performance last week. The S&P 500, the Dow Jones, and the Nasdaq lost about 2.3%, 1.8%, and 3.3%, respectively, last week (as of Sep 4).
Several Trump critics, including former National Security Adviser John Bolton, have also denied this happened. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. Meanwhile, – which would at least avoid a row with the US ahead. They are notably cautious on the economic outlook, including the US-China tension. As of June 2020, the company had 80,000 homes for lease in 16 markets across the US namely the Western US, Florida, and Southeast US.
Unheard of in the days when all Wall Street could say was “Buy”. The 2000 tech bubble led to a two and a half year 83% decline in the NASDAQ 100 Index (QQQ). Trump introduced at a White House news conference, and added: he said.


EU CO2 prices dipped in August, but remain high enough to keep less efficient coal units offline for now. Indeed, UK Brexit Negotiator Frost has stated that to determining if a deal can be struck at all; yet the Express states . This whole discussion centers around the meeting of the ECB scheduled for Thursday. The problem right now, in the European Union and in the United States is that inflation is rather tepid. Of course, this depends on the verbal finesse of Christine Lagarde.
What should investors be expecting from Ms. Lagarde? The ECB has a meeting this Thursday.