Open: New York Session | Forex, Metals, Oil, Agriculture November 12, 2020

less Uptrend scenario An uptrend will start as soon, as the coffee market rises above resistance level 110, which will be followed by moving up to resistance level 112.90. Downtrend scenario The downtrend may be expected to continue, while the coffee market is trading below resistance level 110, which will be followed by reaching support level 104.90. Downtrend scenario A downtrend will start as soon, as the coffee market drops below support level 102.70, which will be followed by moving down to support level 95.
It also covers the commodities market daily focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN & WHEAT. Chicago soybean futures have risen more than 30% over the last three months, a very unusual trend during the U.S. soybean harvest. ICE cocoa prices rose on Wednesday as Barry Callebaut, the world’s largest chocolate maker, gave an upbeat outlook in its full-year earnings report. The world s top cocoa producer is seeking to develop its mining sector to diversify its sources of income.

Overnight yields moved lower again with vaccine hopes turning to virus fear with a fresh wave of coronavirus infections in major economies partly offsetting a stronger dollar. Dollar indexThe dollar index gained last session and closed marginally above the resistance of 93. The combined Euro-area public deficit, which should also be close to the net government bond issuance need, is set to total almost EUR 1000bn this year. However, the rupee shows weakness despite substantial foreign inflows, largely due to the global trend in the dollar, which has been bullish over the past few trading sessions.
Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. A surge in COVID-19 cases around the world and a weaker US dollar supported gold at lower levels. Elsewhere, the USD and JPY edged back higher, while the Chinese currency is back close to a one-week low versus the US dollar.
With estimated issuance of close to EUR 200bn next year, the EU is set to become one of the largest Euro-area issuers, following the largest sovereigns. So even though inflation is more likely to be much lower in the Euro area than the US in 2021, inflation expectations could still rise. The rupee (INR) ended the last session 20 paise lower at 74.37 against the dollar (USD).

Conversely, if the gold price turns bullish above $1,950 per ounce, KL could go as high as Watch the gold price like a hawk. Operating cash costs per ounce for gold projection is retained at Kirkland Lake Gold is showing exceptional results, with tremendous cash flow generation and no debt. With the gold stocks and silver holding up better than gold we still need to consider what is happening with the US markets. For 2020, the company expects total gold production between AISC for gold is anticipated to be .
In global markets, gold prices edged higher today as the global stock market rally on COVID-19 vaccine optimism showed signs of stalling. The bullion miner said attributable gold equivalent output rose to 557,000 ounces during the quarter ended September from 523,000 ounces during the same period a year earlier. If the economy continues to improve over the course of the next year, which I think will happen, then watch for gold prices and TIPS prices to tumble.
AISC Table below Newmont (NYSE: NEM), Barrick Gold (NYSE: GOLD), Agnico Eagle (NYSE: AEM), and Kirkland Lake. The gold price realized this quarter was per ounce, and the company sold . Tracking global cues, gold prices edged higher in domestic markets though they remain sharply lower this week.

We saw negative prices for crude oil as there was no place left to store oil and gas. Now, 5 years later, most pundits think the world has reached “peak oil” usage, and demand for oil will only fall. Along with other oil producers, Exxon has been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. OPEC s oil demand forecasts for 2021 have been revised downwards, with 2021 demand growth expected to be 6.25 million bpd, down 300,000 bpd from an earlier forecast.
OPEC had similarly revised its demand forecast, saying that the rebound in global oil demand is likely to be slower than initially expected due to rising infections.
Outlook exports: Expect H2 to remain uncertain led by recovery in the auto segment; oil and gas will continue to remain weak. My focus is in the financial markets, cyber-security, hacking, agriculture, natural gas, crude oil, geopolitics and alternative investments. As we see the vaccine delivered worldwide, oil demand should begin to rise and stabilize at higher levels, lifting the price higher. Crude Value Insights offers you an investing service and community focused on oil and natural gas.
Submitted by Simon Watkins of OilPrice.com a senior oil and gas industry source who works closely with Iran’s Petroleum Ministry exclusively told OilPrice.com last week.

Of course, the new administration may extend relief measures, but that would increase the already high probability of a U.S Government credit downgrade. Still, the Nasdaq 100 is in the shadow of its early week sell-off and would need to retake 12,200-12,400 to force the focus back higher. Source: Company website Great Lake Dredge & Dock is the oldest and largest dredging company in the US with substantial market share and limited competition. New daily COVID cases in the US are topping 130,000 a day, the question is when will a new lockdown be brought in, if at all?
You know, no politics, just looking at the economic data, the Federal Reserve (Fed), rates, etc.-all that wonderfully boring stuff. Twice, in a period of just three weeks…the Justice Department (announced) settlements of landmark criminal cases against two of the largest banks on Wall Street…. Recent volatility notwithstanding, many investors look at the NASDAQ today and have a sense of déjà vu.
So, if the negative environment continues for longer in the US, the rates might eventually become negative. US stock futures are trading lower today, indicating a negative opening for Wall Street indices. I decided to compare UBS and Credit Suisse, the two biggest banks in Switzerland, and JPMorgan (JPM), the largest bank in the US.

Protection from Western competitors helped but Beijing’s five-year plans focus its private sector on a mission — to overtake America. Authorities are concerned the companies have become too powerful, according to Ma Chen, a Beijing-based partner at Han Kun Law Offices.

There is little doubt that the ECB will end up buying an amount of government bonds close to this amount also next year. The ECB, in turn, will probably end up buying bonds for around EUR 1100bn, of which some EUR 750bn could be government bonds. While the ECB will continue to make sure bond markets behave in an orderly fashion, the issuance outlook does favour some spread moves and a somewhat steeper curve. The ECB quickly emerged as the major buyer of the bulk of the increased government debt issuance.
Calls for a national lockdown in Italy are growing whilst Germany’s Angela Merkel warns that the second wave could be more deadly than the first. The European Union looks set to become one of the largest issuers. The ECB’s purchases have kept bond market worries at bay. Figures struggling with low approval ratings like Macron have a , who have largely been shut down by Facebook and forced to migrate to Telegram. The ECB’s Lagarde waxed rather dovish in a speech yesterday (see below).
Difference between US – EU manufacturing and interest rates showing fair price on the level 1.1450 – 1.12.