Open: London Session | Forex, Metals, Oil, Agriculture August 19, 2020



Domestic demand for sugar is estimated at 25-26 mt, which leaves an annual surplus that translates into consumer-friendly sugar prices. Commodity traders are closely watching the tour to see how recent dry weather and a severe storm will impact this fall’s massive U.S. corn and soybean crop. Data of last 25 years would suggest that cane output and in turn sugar production was inconsistent. The NITI Aayog recommendation to cut cane acreage, however well-intentioned, is most unlikely to be embraced by the sugar mills.
These variations resulted in wild swings in sugar production. Arabica coffee futures gained almost 3% on Tuesday on short covering by funds as a strong polar air mass moves into top producer Brazil.


Dollar indexThe dollar index, that was consolidating within 92.5 and 94 since the beginning of August, closed below the lower limit of the range yesterday. His interpretation is that while a cyclical move in the dollar looks to be priced in, a structural downtrend in the greenback against the euro is probably not. Photographer: David Gannon/AFP/Getty Images The pound’s recent rally means it has joined other G-10 currencies in erasing this year’s losses against the dollar.
Coming Up Stocks in Asia are mixed, the dollar is holding steady near a two-year low and European stock-index futures are slightly higher. We’ll also get a reading on U.K. inflation in July, as well as a final look at euro-area inflation for the same month. “Investors and speculators are only just starting to embrace the short dollar story. The rupee (INR) ended at 74.76 yesterday, that is 12 paise higher against the dollar (USD). Weakening dollar is good for the Indian currency.
On the day, the greenback is tumbling against most of its major peers, led by the pound and the euro. It was exacerbated by an influx of European buyers, who were worried about the risk of a collapse in the euro, and saw the possibility of safety in London.


Source: Manitoba gold website 1911 Gold is the owner of the True North gold project and the Apex Property. The project has proven and probable reserves of 1.88 million ounces of gold and an additional .56 million ounces measured and indicated and 1.66 million ounces inferred. Source: 1911 Gold website The True North Project currently has an indicated and an inferred resource of 1 million ounces of gold. The Laguna gold mine has been optioned to Kinross Gold, who has the potential to earn 70 percent ownership in the project by spending $5.5 million.
The Alamos Gold Lynn Lake project has attractive economics at today’s gold prices, with an NPV of over $570 million and 38% IRR. Although Manitoba has some mines that produce gold, the province only accounted for 1.9 percent of Canada’s gold production in 2019. Alamos Gold became the owner of the Lynn Lake gold project since 2015 when it acquired Carlisle Goldfields. The company’s property has a resource of 226 thousand indicated gold ounces and 198 thousand inferred ounces.
When complete, the company expects the mine to produce, on average, 170 thousand ounces of gold over the first six years. The mine has proven and probable reserves of 2.2 million gold ounces.


In other words, Verisk is becoming less and less dependent on heavily cyclical industries, which means its immunity to recessions and the oil market shocks is getting stronger. Crude Value Insights offers you an investing service and community focused on oil and natural gas. However, they were not battered, as we might expect in the case of a business heavily exposed to the cyclical oil & gas market. U.S. government data today is likely to show that crude inventories dropped for a fourth straight week, and OPEC+ officials are meeting to assess the group’s supply deal.
Source: Yahoo Finance Over the last month, natural gas prices have rebounded on account of increased industrial usage and warmer weather conditions.
Source: DES Incidentally, the top 2 names (Antero Midstream (AM) and Equitrans Midstream Corp. (ETRN)) are midstream natural gas players. Brent crude down 26 cents at 45.20 and US crude off 18 cents at $42.71.

United States

The surge in revenue is expected to continue in the coming years with annual revenue growth of 46% surpassing the projected 9.5% annual revenue growth in the US market. The Nasdaq-100 index is a stock market index, which includes the 100 largest domestic and international non-financial companies listed on the Nasdaq Stock Market. The fund underperforms the Nasdaq-100 index during bull markets and in the very long term, due to its covered call options strategy.
Trump said he called off last weekend’s trade talks with China due to its handling of the virus. US Response A Senior Trump official noted that the mass protests make it clear that Lukashenko’s government can no longer ignore calls for democracy. The increase in the Fed’s share of outstanding U.S. Treasuries since March 2020 shows that the Fed’s purchases have outpaced net issuances of U.S. Treasuries. President Trump called it a “terrible situations”, while senior admin officials said the US is closely watching the developments.
If and when one comes, it should be a massive boost for investors, but Wall Street pros also see risks. It’s a troubling omen for those who violated Carter Page’s rights, spied on the Trump campaign, and systematically abused the powerful tools of law enforcement. Meanwhile, a Republican-led Senate committee is out with a report that blames Vladimir Putin for interfering in the 2016 election to hurt Hillary Clinton and help Trump.


Last Friday, EU Foreign Ministers agreed to commence work on sanctioning Belarusian officials responsible for the electoral results alongside those behind the violent crackdown on peaceful demonstrators. The move came after Vladimir Putin discussed the crisis with Angela Merkel and Emmanuel Macron, with Russia’s leader warning against outside interference or pressure on Belarus. One EU diplomat noted that sanctions are unlikely to be agreed until the end of this week at the earliest.
Lukashenko deploys Belarus military to EU borders before summit. COLLISION COURSE: The EU and US urged Russia not to intervene as protesters mounted over the weekend.