Open: London Session | Forex, Metals, Oil, Agriculture August 20, 2020

There has been an increase in daily volume over the past four weeks.Overall, the short-term outlook is bullish for the stock of Tata Coffee.

If either acts to weaken their currencies as a self-regulating mechanism because they’re not hitting their inflation targets, the dollar may once again rally. In true times of global reflation, the dollar is on the back foot and other currencies outperform, he said. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. At present, U.S. banks trade for less than book value, while euro-zone banks trade for less than half their book value: That is mighty cheap.
Hence, buying ARM in a multi-billion dollar deal is plausible for Nvidia. If they don’t, we will likely see the euro reverse.

Credit: KL Gold presentation) Kirkland Lake Gold’s Q2 results saw the miner record strong growth in its production, earnings and cash flow despite COVID-19. I believe we’ll see Kirkland Lake’s stock break the $50 levels once the miner reports its next earnings report.” Its Detour Lake gold mine acquisition is starting to really pay off and will likely support additional dividends and share buybacks. Kirkland Lake Gold’s stock isn’t necessarily a deep value play, but it’s not expensive, either.
These metrics are a bit higher than its peer Newmont (NEM); however, lower than Agnico Eagle Mines (AEM) and about the same as Yamana Gold (AUY). The morning s earnings agenda features Dutch payments firm and lockdown winner Adyen NV, miner Antofagasta Plc and cement maker CRH Plc. The bull trend in the August futures contract of nickel on Multi Commodity Exchange (MCX) looks intact as it bounced after a minor correction.

Higher oil prices and a tax relief package pave the way for new oil investments. Crude oil prices were lower early in the trading day on Wednesday after estimates showed a mixed bag for inventories of petroleum products in the United States. The consistency of the draws on US crude oil levels suggests a rebound in demand, though gasoline inventories told another story. The fragility of the global economy suggests the price of oil will remain stuck where it is, though could add a bit of a risk premium.
The on Tuesday reported that total US crude oil inventories fell by some 4.3 million barrels during the week ending August 14. The double whammy much less severe Oil prices plummeted in the aftermath of the coronavirus pandemic, from around $60/bbl in February to around $20/bbl in early April. Overall, the estimates were revised up for both years, supported by both higher oil prices and the tax relief package. This means that the actual decline in oil investments in 2021 will be less severe than what the survey currently indicates.
According to the newest survey, overall oil investment in 2020 are estimated at NOK 184,6 bn, an upwards revision from NOK 180,3 bn in the previous survey. The price for Brent crude oil was inching steadily lower early Wednesday.

Evidently, investors think its premium multiple comes from prospects in regions outside the US, as its market share in the U.S. is still quite paltry, at low single digits. The one big exception came in 2012 when the Fed s promise of QE Infinity brought real yields to a new low, while bank stocks rallied. The decline of physical money attributed to the virus pandemic has also been seen in the US over the last two months. Stocks fell in the U.S. and Asia after minutes from a recent Fed meeting tempered optimism about prospects for second-half growth, and as Sino-American tensions simmered.
No change in interest rate policy is expected until end-2021.Wall Street stocks retreated and later closed lower on the Fed news. Contrary to the official narrative of a “V-shaped” economic recovery seen around the world – the recovery in the US, China, and Europe is stalling. Trump is pushing the UN to renew sanctions against Iran, aiming to kill off the 2015 nuclear deal and force Tehran back into talks.
This article first appeared in The Washington Times The Trump administration’s pending ban on Americans doing business with TikTok and WeChat is hardly provocative.
In fact, most recently, we saw Q2-20 e-commerce retail sales in the US surge by 32% sequentially. At the Democrats’ virtual convention, Kamala Harris and Hillary Clinton urged voters to turn out if they want to oust Trump.

The EU aimed to show disapproval of Alexander Lukashenko’s efforts to stay in office, without being seen to be forcing Belarus to choose between Europe and Russia, officials said. “The elections were neither free nor fair and we cannot therefore recognize the results,” Angela Merkel said. Photographer: David Ramos/Getty Images Europe The EU refrained from demanding fresh Belarus elections, instead calling for dialog and a peaceful transition of power. EU pushes Belarus parties to talk, doesn’t call for elections.