Open: New York Session | Forex, Metals, Oil, Agriculture November 10, 2020



The U.S. soybean crop was 92% harvested, the USDA said, ahead of the five-year average of 90% but behind the average analyst expectation of 94%. Elsewhere across the Corn Belt, harvest is mostly complete, and the growers are already contemplating their spring plans, which vary depending on the producer. The late downpours boosted soil moisture for most farmers as Ivory Coast, the world’s top cocoa producer, prepares for the dry season that runs from mid-November to March.
According to surveys, the report is expected to trim estimates for U.S. soybean and corn yields and inventories.


A lower US dollar suggests anti-US dollar trades will do well, and the biggest anti-US dollar trade in the news at the moment is bitcoin (BTC). Dollar indexThe dollar index, after registering an intraday low of 92.13 on last session, recovered and closed with a gain at 92.72. When European banks get a vote of confidence the US dollar is softer, when the European banks lose confidence the US dollar gains strength. But later, the move faded in places, especially in US stocks and the US dollar, though gold remained several percent lower after a 100-dollar freefall on the news.
Last week, the Japanese yen (FXY) appreciated against the US dollar, gaining 1.25 percent and posting gains for the fourth consecutive week, closing at the 0.967300 level. Biden’s election victory and the potential reshaping of US foreign policy appeared to have accelerated capital flows into emerging markets and risk assets, sinking the US Dollar. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action.
Ollies sort of fits somewhere in between a big box store and dollar store in our estimation. The yen has been favored by the recent weakness of the dollar, which lost 1.92 percent against a bundle of its main competitors. European banks have had a rough time lately, and when they suffer monies flow in to US Banks, thus adding to US dollar strength.


(Source: Author’s own processing, using data of Equinox Gold) Gold sales equaled 128,437 toz gold, which is 2% more than in Q2. The quarterly production decline is attributable especially to the Mesquite mine that produced 39,687 toz gold in Q2, but only 31,024 toz gold in Q3. Reserves increased by 28% to 658,000 toz gold, and measured and indicated resources increased by 94% to 837,000 toz gold. On the other hand, at Aurizona, production grew from 27,460 toz gold to 33,248 toz gold.
10, 2020 5:28 AM ET|| About: Equinox Gold Corp. (EQX)by: SA TranscriptsThe following slide deck was published by Equinox Gold Corp. in conjunction with their 2020 Q3 earnings call. (Source: Author’s own processing, using data of Equinox Gold) Although production volumes remained almost unchanged, production costs increased notably. One of the main drags on gold prices is the prospect of smaller fiscal and monetary stimulus if economic growth accelerates with the help of the vaccine.
Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored. Even with the recent volatility in prices, gold remains among the best-performing commodities this year to combat the fallout from the coronavirus pandemic. However, in comparison to the same period of last year, gold production increased by 99.3%.


Crude oil did not respond to the same degree as energy stocks highlighting an interesting disconnect as crude oil futures obviously reflect the true impact from the vaccine news. Uptrend scenario The uptrend may be expected to continue, while the crude oil market is trading above support level 36.10, which will be followed by reaching resistance level 41.10. I have worked in the areas of oil refining, natural gas production, synthetic fuels, ethanol production, butanol production, and various biomass to energy projects.
Downtrend scenario A downtrend will start as soon, as the crude oil market drops below support level 36.10, which will be followed by moving down to support level 33.60.
My focus is in the financial markets, cyber-security, hacking, agriculture, natural gas, crude oil, geopolitics and alternative investments. The year before Bush was inaugurated U.S. oil production averaged 5.8 million barrels per day (BPD). The price of natural gas, oil, and in turn gasoline, all plunged as production surged. In contrast, he said, crude-oil floating storage peaked at 290 million barrels, is still at 250 million barrels and is normally around 150 million barrels.
Scorpio Tankers’ Robert Bugbee (Photo: John Galayda/Marine Money) This means that refined products should travel longer distances by ship, and conversely, crude oil could travel shorter distances. Malaysian palm oil futures firmed, underpinned by expectations of a sharp fall in inventories, but weakness in rival soyoils and crude kept a lid on prices.

United States

Nasdaq 100 futures were dramatically lower and down as much as 6% from yesterday’s intraday high as the vaccine reverses the outlook for many of these companies. US stock futures are trading lower today, indicating a negative opening for Wall Street indices. Nasdaq Futures are trading down by 91 points (down 0.7%), while Dow Futures are trading down by 175 points (down 0.6%). It is worth revisiting this recently IPOed company given the revival of interest in tech stocks, as Nasdaq appears poised to exceed its record high.
Here are my best three gambling stocks to ride this hot new trend… The obvious first stock is (NASDAQ: DKNG). Yesterday the Dow gained 835 pts., closing at 29,158, the S&P 500 gained 41 pts., closing at 3,551, while the Nasdaq lost 181 pts, closing at 11,714. Cooper Group Inc.’s (NASDAQ: COOP) stock price has rallied since the middle of March as the Federal Funds rate cuts have propelled the company’s revenues. Wall Street surged to record highs on vaccine optimism, before closing off the highs.
This is true enough, but in terms of Russia one could easily argue Trump has been a greater hawk in terms of . We would also like to point out that this stock is listed on Nasdaq and thus has a liquid options market available.


Peers voted to remove controversial parts of a draft law giving ministers the power to rewrite parts of the Withdrawal Agreement that Johnson signed with the European Union. In Pakistan alone, the number of young people matches that of the young people in the entire European Union. Reports of progress between the EU and the UK suggests that a trade deal could still be achieved. Difference between US – EU manufacturing and interest rates showing fair price on the level 1.1450 – 1.12.
Instead, the Pound remains broadly supported by Brexit optimism.