Open: London Session | Forex, Metals, Oil, Agriculture December 23, 2020



Greer also said that a weaker dollar directly speaks to commodities rallying, and he thinks those markets are signaling that there is commodity inflation going on. The dollar bounced earlier this week, which maybe put the risk appetite on its heels, but the tape is taking it in stride, he said. So let’s compare the growth in dollar home sales with the growth in farm mortgage debt since 1990. The Bloomberg Dollar Spot Index is still down more than 9% since March 31, set for a largest three-quarter drop than any seen since 2011.
The other complicating factor has been Brexit — which has been throwing the pound all over the place and helping to exacerbate dollar moves against other major peers. Greer also discussed the connection between the dollar and U.S. equity markets and why that relationship matters during the interview.


Brent crude futures, the global oil benchmark, fell 1.44 per cent to $49.36 per barrel. It generated the bulk of its cash flow from oil transportation (conventional and oil sands). Source: IPPLF Presentation This was a move that many in the Natural Gas industry cheered as it would help them get better pricing for their product as well.

United States

The mutated virus has likely spread beyond the U.K., Brexit trade talks aren’t offering much progress and U.S. President Donald Trump provided some confusion on pandemic relief. In a surprise video announcement posted on his Twitter account, Trump called the bill a disgrace and said it was full of wasteful and unnecessary items. After a Fed meeting last week and heading into the holiday markets, Greer said the stimulus bill is probably going to mean very little.
The sole Wall Street analyst willing to admit that he/she tracks Farmer Mac expects $9.20 per share this year. Remember that Wall Street expects no earnings from it next year during a boom year for housing. Whereas other regional Fed manufacturing readings like the Empire and Philly Fed were weaker than expected for December, today’s release from the Richmond Fed was a welcome surprise. What will 2021 bring for the travel industry and especially the airline industry and especially United Airlines Holdings Inc (Nasdaq: UAL)?
President Donald Trump sparked confusion as he demanded changes to bipartisan stimulus legislation approved by Congress. Wall Street is the “Land of Re-invention,” and I suggest you get on with doing just that.


Individually, Europe may also experience headwinds in the form of the United Kingdom’s departure from the European Union, as the Brexit transition has still not been resolved. Finally for British assets, Prime Minister Boris Johnson is reportedly examining whether to move more areas of England into lockdown after Christmas.Change ItU.S. The European Union, Japan, Switzerland, and other countries, have all swung below the almost unthinkable like of zero.