Open: London Session | Forex, Metals, Oil, Agriculture December 15, 2020



The dollar index was little changed at 90.688 after Monday sinking as low as 90.419, a level unseen since April 2018. The New Zealand dollar also added 0.1% to 70.86 U.S. cents after reaching 71.20 the previous session for the first time since April 2018. An agreement on fiscal stimulus would also “undermine” the U.S. dollar, he wrote. The greenback slipped 0.1% to $1.2150 per euro, trading near a 2 1/2-year low of $1.2177 touched again on Monday.


No silver miner is immune to falling silver prices. First Majestic Silver (NYSEARCA:FM) is a large silver producer in Mexico. of silver equivalent in 2020 (100% of their revenue comes from silver and gold). It is quite conceivable that they could be a 10 bagger at $100 silver in three years when they reach 30 million oz of AGEQ production. For example, if silver goes above $50, for every $10 move, FM’s free cash flow could increase by $250 million (assuming 25 million oz.
If the price of new steel falls – as the absence of tariffs would make happen – then, it is usual that the price of scrap also falls. The American steel industry currently enjoys significant protection as a result of the Trump steel tariffs – 25% on most foreign sources. Conversely, if silver prices fall, then their share price will also fall. He has been vocal in his belief that silver prices are going much higher. I’m going to use two silver prices and two timeframes.

United States

Insider enthusiasm for their stocks appeared to have waned last week even as the S&P 500 and Nasdaq hit all-time highs before giving back some of those gains. At a 22x FWD P/E, Artesian Resources Corporation (NASDAQ:ARTNA) is trading a significant discount to its peers, even though their business operations largely have the same opportunity and risks. My prediction, though, is that the abolition of the Trump trade policies will be an active conversation – argument even – in the Biden Administration.
This is not about whether Donald Trump and his trade policies were a good thing or not in political terms. HealthEquity (NASDAQ:HQY) is a custodian of Health Savings Accounts (HSA) with leading market share in number of accounts as well as assets under management. President Trump and various of his advisors, through that tariffs against imports, were a good way of protecting the American economy. With the Fed in what appears to be permanent QE mode, rates will likely continue to be suppressed for the foreseeable future.
The old HUMBL was certainly ambitious and wanted to be something like PayPal (NASDAQ:PYPL) for emerging markets. Dow Jones Industrial Average fell 0.62%, while the S&P 500 lost 0.44% and the Nasdaq Composite climbed 0.50%.