Open: London Session | Forex, Metals, Oil, Agriculture September 22, 2020



MARKET NEWS Chicago corn futures bounced back, after suffering their biggest one-day loss in almost seven weeks in the previous session, as expectations of strong Chinese demand supported prices. COLUMN-Crop Watch: Harvest begins with Iowa soybeans, Kansas corn -Braun The first two of 16 U.S.


More Surging dollar holds near six-week high as virus fears return Trade strategyThe rupee, after opening marginally higher, is showing a bullish bias. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. Back then, Tokyo strategists suggested a combination of reduced repatriation flows and dollar demand from local investors — as well as seasonal factors — would halt its decline.
That is generally a sign of positive risk appetite, as people no longer feel the need to buy into the dollar as a shelter. The rupee (INR) has begun today’s session marginally lower at 73.49 against the dollar (USD). The dollar was steady after posting the biggest gain in three months.Benchmarks fell in Australia, South Korea, Hong Kong and China. Currencies The yen was at 104.51 per dollar, up 0.1%. The offshore yuan traded at 6.7935 per dollar. That brought back memories of late July, when the dollar slumped to just above 104 but quickly rebounded.
Her comments come as the central bank pays close attention to the euro s appreciation, and as economists expect the ECB to expand its emergency bond-buying program this year.


This is a low-cost heap leach open pit gold mine with production slated for 2021. of proven and probable gold reserves and 20 million oz. Additionally, it’s a good way for income investors to get gold exposure in their portfolio.The current environment is creating an historic opportunity for gold. The GAMCO Global Gold, Natural Resources & Income Trust (GGN) is one way to combine the gold and energy theses into an income play. Surprisingly, its shares are underperforming its peers this year, as Osisko Gold Royalties and Sandstorm Gold have both outperformed the stock.
Most gold miners have little or no dividend, and physical gold has a negative carry if you want to protect it. Based on the production profile from the pre-feasibility study and spot gold prices, the royalty could produce in annual royalty revenue to Maverix. Royalties provide exposure to the upside of gold prices, as well as unlimited upside to increases in reserves, resources and production, and mine life extensions, at no additional cost.
Argonaut Gold acquired this asset in its takeover of Alio Gold. Using spot gold prices, the royalty is estimated to produce in annual royalty revenue to Maverix. Assuming Mother Lode produces 50,000ozAu per year, at spot gold prices it would produce annual royalty revenue.


Malaysian palm oil futures dropped more than 2% on Monday, dragged lower by weak Dalian prices and global equities, as fears over new coronavirus restrictions in Europe hit sentiment. Prior to the pandemic, I thought cyclical industries like oil, housing and autos were vulnerable. Commodities West Texas Intermediate crude rose 0.5% to $39.52 a barrel.

United States

The trials have resumed in Britain, Brazil and South Africa, but remain on hold in the US.Some forecasts on vaccine availability have grown less optimistic. On top of that, Wall Street still must hunt for returns with interest rates pinned near zero, possibly through 2023. Compared to the rest of the world, the US has been on a slower recovery trend line due to poorer public health compliance/policies. Anthem is currently the second-largest healthcare company in the US with a market cap of $66 billion.
This Racists for Trump ad from Saturday Night Live, or even this negative ad on Mitt Romney also from SNL, are fictitious, but still not quite as ludicrous. The sportswear giant has outperformed the market in 2020 and Wall Street appears happy about its e-commerce future. Source: Unsplash With ~$638.9 million in assets under management and twelve-month distribution rate, PEY tracks the NASDAQ US Dividend Achievers 50 Index (DAY). The index itself represents a fraction of the NASDAQ US Broad Dividend Achievers Index (DAA).
DAA, in turn, is based on the NASDAQ US Benchmark Index (NQUSB) (page 2).
Since the vast majority of the SPACs are searching for targets in the US, our analysis will be focusing only on these US-based unicorns.


The Monday threat comes days after Taipei hosted yet another top American diplomatic delegation, which Beijing has repeatedly warned against, noting a violation in the longstanding ‘One China’ policy.


EU ministers will today take another stab at preventing the re-emergence of internal borders amid a spike in coronavirus cases across the continent. It’s something of an Achilles heel for the EU the ability of national governments to impose pandemic-induced travel curbs that undermine the bloc’s prized and prosperous single market. Last Orders Hospitality venues across England will have to close by 10 p.m. from Thursday, Boris Johnson’s office said, as it seeks to halt a surge in coronavirus cases.
The deterioration comes after the Czech Republic was one of the most successful EU nations in clamping down during the spring outbreak thanks to early and strict quarantine measures. ECB Options | Christine Lagarde said the ECB has room to add stimulus and can adapt its already expansive toolkit if the economy needs more help. Second presidential debate in the U.S. and EU Council about Brexit (considered as “soft deadline” by Johnson’s government to reach an agreement).
We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K. s departure from the EU. ECB meeting.