Open: London Session | Forex, Metals, Oil, Agriculture October 27, 2020

Currencies

Moreover, the dollar index looks weak hinting at a decline in the dollar.

Metals

A copper futures contract with a lot value of about ₹13,25,000, at current prices, will have an initial margin of ₹1,22,400. For a copper contract of lot value ₹13,25,000 at current prices, for instance, the delivery margin to be maintained in the tender period will be ₹3,31,250. This year, copper has staged a big rally, which is usually enough for the Andean economies to lead the emerging markets for a while. The correlation between METLDEX futures and MCX Gold futures is 0.09.
Normally, Chilean share prices move broadly in line with the price of copper, its main export. Further, the METLDEX futures have low correlation with gold, too.

Oil

Crude prices edged higher on Tuesday, but the outlook remains distinctly bearish.Coming Up Europe’s earnings season gets busier again on Tuesday. Swiss drugmaker Novartis and oil major BP round-out the large-caps reporting.

United States

On the campaign trail, Democratic presidential candidate Joe Biden is picking up the pace, though his relatively light schedule contrasts sharply with President Donald Trump’s frenetic traveling and rallies. Teradyne’s (Nasdaq: TER) earnings report last week was strong but probably important to many were hints to Apple (Nasdaq: AAPL) strength. (Video length 00:14:46) S&P 500 [SPX] Index and NASDAQ [NDX] Technical Analysis Elliott Wave for Investing or Day Trading.

Europe

Covid-19 angst hits market sentiment, Boris Johnson faces a revolt over local lockdowns and Amy Coney Barrett is confirmed. Decisions regarding Turkey are on the EU s agenda for December, but the latest developments may give it a mention on the leaders call on Thursday. French President Emmanuel Macron characterized the brutal murder as an “Islamist terrorist attack” while urging France to resist such extremism. Car Giant | Fiat and Peugeot are headed for EU antitrust approval for their plans to create the world s fourth-biggest carmaker.
9 a.m. EU s antitrust chief Margrethe Vestager takes questions from European Parliament lawmakers 9:30 a.m. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K. s departure from the EU.

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