Open: London Session | Forex, Metals, Oil, Agriculture August 26, 2020



That makes them more sympathetic to technical arguments about the dollar’s direction, to complement those made on a more fundamental basis. The offshore yuan traded at 6.9044 per dollar. BL Research BureauThe rupee (INR) witnessed a volatile session yesterday versus the dollar (USD). Australia’s S&P/ASX 200 Index lost 0.2%.CurrenciesThe Bloomberg Dollar Spot Index was steady after slipping 0.3%. The yen was at 106.40 per dollar. The dollar retained losses.Shares fluctuated in Japan and South Korea, and dipped in Australia.
When it comes to the IPOs of companies beginning to sell shares on public stock exchanges, tech offerings have become synonymous with billion-dollar launches. The euro bought $1.1834.


When gold was $1,800.50 in June, and the price index was 257.2, the real gold price was 7. Rather than price gold in terms of fiat or paper money, he says, we should view paper money as being priced in terms of gold. Conversely, when Treasury real yields fall, gold prices would tend to climb.This process leads to the finding that gold is cheap. Similarly, they argue, if we know the level of gold and of the consumer price index, then dividing the first by the second gives us the real price.
What it has in common is that it finds the launch of gold ETFs, making speculation in gold far easier, was a moment when something important changed. As he puts it: Moves in the gold price drive real yields. The more money is in circulation, the higher will be the price of gold in terms of paper money. Second, unsurprisingly, deteriorating risk appetite over the preceding two years leads to higher gold prices. Absent a swift victory over the virus, all of these three varied methodologies suggest that there is far more room for gold to rise than to fall.
If investors grow as scared about monetary debasement as they did a decade ago, a development that is easy to imagine, then gold could rise further.


Laura has already triggered mandatory evacuations, hurting offshore oil and gas production and shuting a third of the Gulf Coast s refining capacity. Oil held at a five-month high, while catastrophe insurers on the Lloyd’s of London market will have an eye on the damage bill. Australia’s 10-year yield rose three basis points to 0.92%.CommoditiesWest Texas Intermediate crude rose 0.1% to $43.40 a barrel.

United States

Tiffany Trump was there, best known as one of a set of New York socialites, heirs and heiresses dubbed the “rich kids of Instagram”. Always worth trying to remember that Trump inherited entirely benign economic conditions, and that the only recession is the one happening right now. Opinion The Republican National Convention may be built around Trump’s personality cult, but the party’s true obsessions are persecution and aggression, Francis Wilkinson writes for Bloomberg Opinion.
Mr Trump and the Republicans went into this week’s convention showing them trailing Joe Biden and the Democrats by anything uo to 10 points. Stacked jack-ups will also have big problems with returning to the market anytime soon, if ever. “We all know Donald Trump makes no secret about how he feels about things,” she said. Third, there is the Fed s balance sheet, and fourth there is flight capital from emerging markets, China in particular. In the summer of 2015, when Donald Trump announced he was running for the presidency, Melania Trump was next to him, gliding down those escalators at Trump Tower.
Melania Trump is quite possibly the closest thing America has ever had to a Queen Elizabeth II. She did her bit to service what has already become the principle theme of the Trump 2020 campaign.


Beijing won’t dump all its overwhelming mass of US Treasuries in one go, but – as it already happens – divestment will accelerate. China’s foreign minister is in Europe, aiming to push back against a U.S. campaign for allies to shun cooperation with Beijing. On the trade war front, Beijing won’t shut down US businesses already operating in China.


Five Things You Need to Know Angela Merkel’s coalition agreed to extend Germany’s job-preservation program to the end of 2021, subsidizing paychecks so companies can avoid layoffs. Merkel is also exasperated over Vladimir Putin, people familiar said, with Moscow having brushed off her call for a probe into the apparent poisoning of opposition leader Alexei Navalny.