Open: London Session | Forex, Metals, Oil, Agriculture October 28, 2020



Rise in global soybean price too is exerting its impact on India via the soybean oil import route. Any offer at $500 a tonne will result in import parity.Not only pulses, soybean prices too have risen to around ₹4,300 a quintal, well above the MSP of ₹3,880.


The dollar, however, gave up early gains against other major currencies as sentiment turned bearish due to uncertainty about the outcome of the U.S. presidential election next week. The euro fell against the dollar on Wednesday following a media report that France’s government was leaning toward reinstating a national lockdown to curb a resurgence in coronavirus cases. “We expect an intra-day range of 73.65-74.05,” he said.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.16 per cent to 93.09.
“You’re likely to get a weaker U.S. dollar, which typically is good news for emerging market assets, whether it’s fixed income or equities.” The Australian dollar trimmed losses after data showed consumer prices in the third quarter rose 1.6% from the prior quarter, which was slightly more than the median estimate. Despite a break through 0.8% in 10-year Treasury yields, a weaker dollar and higher inflation expectations, the yellow metal has pretty much hugged the $1,900 level since late September.
The dollar was little changed at 104.46 yen after a 0.4% decline on Tuesday brought it close to a one-month low. by 14 paise against the dollar (USD), the rupee (INR) closed at 73.71 on Tuesday. He said the euro and the dollar have both been range-bound. The euro fell 0.14% to $1.1780 in Asia on Wednesday, down for a third consecutive session.


If you are unfamiliar with Barrick Gold, here’s a quick summary: Barrick is a senior gold miner (1+ million oz. Gold prices are soaring, yet gold miners are undervalued compared to the price of the metal. Gold margins (oz) Copper margins (lb.) As for production growth, Barrick is already producing upwards of 5 million ounces of gold per year profitably. It says it reported an average realized gold price of $1,909/oz and copper price of $2.96/lb in Q3, which represent a gain of 10.3% and 17.9% from Q2.
Barrick is going to benefit from higher gold output, and higher metals prices in Q3. Recent drill results reported by Barrick were very positive, including 4.17 meters grading 80.6 g/t gold starting at a depth of 123.5 meters. Unfortunately, copper costs are expected to be 6% to 8% higher due to higher capitalized stripping at its Lumwana mine, so costs will likely range from $2.27/lb to $2.32/lb. But the companies that produce gold and silver often offer volatile returns, creating opportunities for astute investors.
Barrick Gold’s shares are undervalued, and I think Berkshire Hathaway is going to be a happy shareholder in the years to come.


He said that the big oil trade for him is oil stocks because they are holding ground amid bad headlines. Oil prices dipped after a report indicated higher U.S. crude stockpiles. U.S. oil was down 66 cents, or 1.7%, at $38.91 a barrel, after gaining 2.6% on Tuesday.U.S. Since beginning of September, the November futures contract of natural gas in Multi Commodity Exchange (MCX) has been treading in a broad range between ₹225 and ₹245.

United States

There would also be more risk appetite without the unpredictable Trump, and with a policy more likely to deliver growth in the short term (no matter the longer-term effects). Sentiment for the greenback has also weakened after Trump conceded that an additional round of U.S. fiscal stimulus is unlikely before the election. Outcomes are often counterintuitive.Nothing was clearer in the 2016 Trump campaign than his determination to clamp down on Mexican immigration and come to a new more favorable trade agreement.
Nevertheless, I reviewed his performance early this year, and the conclusion was largely neutral: Intel: Bob Swan One Year CEO Scorecard (NASDAQ:INTC). The Fed would keep the yield curve pretty flat. Trump Does It Again: Buy BanksHere comes another counterintuitive, which again involves the yield curve. Recently sold the US government $7 million worth for stockpiling. You can look at how many billions in marketcap Gilead Sciences (NASDAQ:GILD) gained with the Remdesivir approvals.
Roche Holdings AG (NASDAQ:OTCQX:RHHBY) just paid $350 million for US rights to AT-527, a potential Covid-19 antiviral from Atea Pharmaceuticals.
He has been featured in such notable publications as the Wall Street Journal, New York Times, USA Today, Investment Advisor, Fortune, and The St. Petersburg Times.


The country responded with mass protest marches in major cities and President Emmanuel Macron vowed to protect freedom of expression in honor of the victim. Sterling held steady at $1.3035, supported by hopes for a last-minute trade deal between Britain and the European Union. Fishing remains a significant bone of contention but the EU has moved to ease one headache related to stock-trading. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K. s departure from the EU.
U.K. Prime Minister Boris Johnson, meanwhile, is facing the ire of his own lawmakers over restrictions. French President Emmanuel Macron will give a televised address on Wednesday evening.