Open: London Session | Forex, Metals, Oil, Agriculture August 05, 2020



The minister also told local media that Lebanon will import wheat and added that the country currently has enough wheat until they begin importing it. StoneX predicts Brazil will expand soybean plantings to a record 38 million hectares (94 million acres) in the 2020/2021 cycle, which starts around September. In the previous season, Brazilian farmers harvested 122.8 million tonnes of soybeans, StoneX estimates. MARKET NEWS Chicago corn and soybean futures ticked higher as both the contracts recovered from sharp declines in the previous session, although expectations of bumper U.S. production curbed gains.
Roy says the woman then stuck her middle finger in his face, and tensions escalated further until she threw her coffee in his face.


Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. If this trend continues, rupee will be able to stay above the support of 75 versus the greenback.Dollar indexThe dollar index declined yesterday after attempting to recover. The rupee (₹) closed slightly below the support of 75 for past two sessions against the dollar ($). The deal is worth about 54.8 cents on the dollar, people familiar said.
“Free money is debasement of the dollar,” Shedlock said. For instance, if people change their habits and spend 95 percent of each dollar, the multiplier will become 20. Let us assume that of an additional dollar received individuals spend $0.9 and save $0.1. The willingness of governments and central banks to go to any trillion-dollar lengths to sustain rising asset prices has created a monster. On the macro side, prepare for composite Purchasing Managers’ Index data for the Euro area, U.S. and China.


Nikkei futures were trading 0.3% below the Nikkei 225 index’s previous close.Spot gold rose in early trade and touched a fresh record of $2,025.76 per ounce. Now that central banks are openly meddling in fiscal policy, it has become obvious that they don’t have things under control, which explains the gold rally. The worst time for gold, according to Shedlock, is during disinflation, when people feel confidence that central banks have everything under control.
Gold eked out marginal new record highs while safe haven yields backed up from near three-month lows. Lebanon s main port was rocked by a deadly explosion, Google faces a new EU probe, and there’s a new record for gold. To understand how they can do so well in an environment where gold is $2,000 per ounce, we need to grasp two things. He said it is unwise to invest in a speculative bubble, so he is sitting it out in cash, treasuries, gold, and miners. In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought.


The market is waking up to the bullish gas fundamentals as seen by a strong rally in the price of natural gas. The company will manage oil trading in the territory controlled by US-backed Kurdish forces and modernize the oil fields that they and the US-led coalition currently control. Kurdish militias and US troops control a larger part of the Syrian oil resources, including al-Rmelan and al-Omar oil fields. Put simply, decline in production is one of the fastest ways to fix a low price environment for natural gas.
When trading natural gas ETPs, it’s important to separate your fundamental view from the view you hold on any specific ETN or ETF. GAZ is a strong ETP for trading natural gas in that its rolling methodology minimizes roll yield. Malaysian palm oil futures snapped a four-day winning streak, dragged down by lower rival soyoil, but losses were limited by expectations of a plunge in July inventories. In the case of GAZ, it is actually a somewhat unique ETP in that it is tracking the Series B Bloomberg Natural Gas Subindex.
For this reason, I believe that investors looking to trade natural gas should consider doing so through the GAZ ETP. Here’s what happened to the price of natural gas during this time period.

United States

Prices have soared 33% so far this year.Wall Street shares ended higher after choppy trade as hopes mounted U.S. leaders would agree on another coronavirus stimulus package. Wall Street shares ended higher after choppy trade as hopes mounted US leaders would agree on another coronavirus stimulus package. Following the news that Trump was taking the drug himself, opinion hosts on cable news channels launched continual attacks on both hydroxychloroquine and the president.
While a new EIS was guided to 2021, Trump recently relaxed recent NEPA rules, so it might not take a year given current data.
MACRO The Nasdaq 100 closed yesterday at a new record high and cleared 11,000 on the close for the first time after two prior tests. While I have a positive long-term view for Apple and the tech-heavy Nasdaq index, the upside is probably limited due to the high valuation and recent overbought condition. No matter what the end game is, Dakota Access and the US Army Corps of Engineers want this issue resolved quickly because of the current political environment. Apple and the top companies comprising the Nasdaq are highly profitable companies and likely to perform well over multiple years.
Harrison said it went way up during the initial liquidity crisis and has come back down after the Fed intervened. So, it is possible that the Nasdaq keeps running higher until the other indexes rise to overbought conditions (above 70 on the RSI).


The U.S. and China will hold high-level talks on Aug. 15 to assess Beijing’s compliance with the phase 1 deal, people familiar said.


The EU opened an in-depth probe into Google’s takeover of Fitbit.