Open: London Session | Forex, Metals, Oil, Agriculture September 04, 2020



As grains, vegetable oils and sugar prices are on the rise, the good news for consumers is that dairy and meat prices were unchanged. MARKET NEWS Chicago soybean futures rose and were set for their fourth week of gains as strong demand from China, the world’s top importer, supported prices. Biggest losses seen in energy and precious metal sectors while the grains index jumped to its highest since April with soybeans reaching a 27-month high on strong Chinese demand.
Argentine growers have planted 6.5 million hectares (16.1 million acres) with wheat, to be harvested in December and January, according to the exchange. Pret offers coffee subscription.


Dollar index The dollar index was marginally positive yesterday. The much-needed correction following months of stale trading has been led by dollar strength, stock market weakness and a faltering Covid rebound in global fuel demand. For energy analysts like myself, our views on Democrat concepts like the Green New Deal boil down to whether the return on investment and taxpayer dollar allocation is proper. A move below 0.7250-25 would begin to suggest the risk of further downside consolidation for the pair and a strong US dollar in general.
The dollar which took us down here earlier in the week has stabilised above €1.18 as per the comment above. Still, AUDUSD did sell-off as risk sentiment headed south and is soon bumping up against important downside levels that need to hold if the bullish case is to hold. Backstopping the lenders may be more costly for Turkey, where banks rely on wholesale dollar funding.


– Gold continues to bounce along the trendline from the March low with the biggest stock market correction since June having a limited impact in terms of support. Potentially due to the risk of gold becoming a source of liquidity should yesterday’s weakness continue today following the US job report. For companies like BHP, the way forward is encouraging steel producers to switch to arc furnaces, which rely on electricity rather than coal. Brent crude futures dipped 0.5% to $43.83 a barrel while U.S. crude futures fell 0.7% to $41.09 a barrel.Gold was steady at $1,933.28.
The miners can commit to convert a rising share of their iron ore output to hot briquetted iron. Learn how you can too with a free info kit on gold from Birch Gold Group. Click here to get your free Info Kit on Gold. Silver which has underperformed gold is looking for support at $26/oz. That’s why thousands of Americans are moving their retirement into a Gold IRA. It reveals the little-known IRS Tax Law to move your IRA or 401(k) into gold.


Africa Oil Corporation Africa Oil Corporation has taken advantage of low oil prices to build a portfolio of top-tier oil assets. Africa Oil Corporation Investment Portfolio – Africa Oil Corporation Investor Presentation Africa Oil Corporation has spent $72 million on its investments, growing to a current value of $164 million. Africa Oil Corporation’s risk, like all oil companies, continues to be a lack of successful developments or a collapse in oil prices.
The FAO Vegetable Oil Price Index increased by 5.9 percent, led by firmer values for palm oil especially, but also soy, sunflower, and rapeseed oils. All stand to generate significant shareholder rewards.Africa Oil Corporation (OTCPK:AOIFF) has a market capitalization of $400 million, making it a small company by nearly any standard. The market for water handling will always be far larger than the market for transporting production until the characteristics of the typical oil well change. Beyond helping shore up its own finances via encouraging higher crude oil prices, I think Saudi Arabia has a vested interest in keeping the Trump Administration in power.
For analysts and the market, the coming shipments were viewed as the proverbial cherry on top of the bear case for crude oil. But given the expected profitability of the partnership, that cash flow positive could be as early as 2022 (depending upon the price of oil of course). The demand for treatment of any produced water for use outside the oil and gas industry is likely to climb with population growth.

United States

Instead, the Fed seeks to achieve its target by employing the blunt and highly imprecise instruments of interest rate manipulation, while counting on inertia of inflation and inflation expectations. The CBOE index of Nasdaq-100 volatility, which is based on how much investors are using options to protect themselves against future price swings, was increasing as the market rose. We wrote an equity research note before the US market opened called which explains some of the dynamics that were likely in play in yesterday’s session.
(Now, a single day when a market falls 5% – as the Nasdaq did on Thursday, September 3, 2020 – is something to maybe find a bit more disconcerting.
But the Fed has put bond volatility to sleep:This helps to enable excessive speculation in the stock market. – the maker of an electronic agreement platform that has thrived during the COVID-19 pandemic reported Q2 earnings after the US market close. The show’s audiences are accustomed to the Fed chair and his board delivering solemn pronouncements about their aims—low inflation, high employment, and financial stability.
The US economy is now on track to break through that level in 2023, and then to remain at that higher level of debt. It is fairly clear that the market would on balance prefer a continuation of Trump. The Nasdaq 100 lost more than 5%, its biggest fall since March, having gained in 11 of 13 sessions prior despite cries of stretched valuations.


Coming Up U.S.-China relations remain on the radar, with President Xi Jinping setting a combative tone in latest remarks. Here’s how the death of a Czech politician has deepened the rift between Prague and Beijing.


– to what degree does the ECB believe it can engineer a higher level of inflation and what will have on offer at next week’s meeting on Thursday. The spell of unbridled optimism about the EU’s prospects after its landmark recovery plan deal may prove as brief as Belgian summers. German Chancellor Angela Merkel is waiting for Russia s response before deciding how to react. Christine Lagarde has called climate change an urgent challenge. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K. s departure from the EU.