Open: New York Session | Forex, Metals, Oil, Agriculture October 08, 2020

A member of the National Guard plays a trumpet during a flag rai


The consultancy revised down its 2020 corn harvest outlook to 31.74 million tonnes from 34.02 million tonnes a month earlier. Coffee exports in September, the last month of the 2019/2020 season, more than doubled from the same month last year to reach 56,448 60-km bags. Russia, one of the world’s biggest wheat exporters, is harvesting a large crop this year. MARKET NEWS Chicago soybean futures rose for a fifth consecutive session, buoyed by concerns over dry weather in key exporting countries.
Sugar prices at Vashi recovered on Thursday, erasing previous days lose on ease selling. Child labour increased in the world’s top cocoa producer during the coronavirus lockdown, according to a report in June by the Swiss-based International Cocoa Initiative (ICI).


The US dollar is near a three-week low against the Canadian dollar (~CAD1.3235). The US dollar index began a bear market this summer and had the biggest monthly drop it experienced in decades this past July. Stocks are on the rise and the safe-haven dollar is broadly lower as US lawmakers continue exchanging ideas – at least publically – for another stimulus package. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action.
This may also explain why the US dollar, often considered the safest asset of them all, finally found quite a bit of support in the month of September. Anti-fiat gold prices climbed cautiously over the past 24 hours as an improvement in market sentiment dented the anti-risk US Dollar. In a bull market, such oversold readings as the US dollar index got to in August lead to big rallies. This may be the best stock to buy now to profit from the next decline in the US dollar index before the year is over.
After all, the Bitcoin market is highly dependent on what goes on with the US dollar, which has been choppy to say the least. Now the good news is that gold, silver, and mining stocks tend to move opposite to the US dollar index.


On MCX, December gold futures fell 0.2% to Rs 49,950 per 10 gram while silver futures fell 0.3% to Rs 60,280 per kg. Given the bullish outlook for Gold, the outlook for Barrick Gold remains positive, as well – with some serious upside potential. “Demand for steel is improving on a resumption of production in important markets and on stronger global economic data, particularly in China,” said Carol Cowan, Senior Vice-President, Moody’s. Labour talks loom in top copper producer Chile Copper prices have been supported recently by concern about potential strikes in Chile, the world’s biggest copper producer.
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. In early trade today, domestic gold prices edged lower, tracking muted global rates. Copper prices slipped from a near one-week high hit in the previous session, as top consumer China was absent from the market due to a major holiday.
Gold prices are trading down by 0.2% at Rs 50,128 per 10 grams. Gold prices are trading up by 0.3% at Rs 50,167 per 10 grams. With this in mind, consider the following: Thus, one can conclude that this is currently an advantageous environment for precious metals like Gold.


Oil and gas workers have withdrawn from offshore US Gulf production terminals, with nearly 1.5 million barrels of daily output stopped. My focus is in the financial markets, cyber-security, hacking, agriculture, natural gas, crude oil, geopolitics and alternative investments. Crude oil prices may receive a boost from today’s annual OPEC World Outlook report on rising demand expectations. Oil and gas workers have withdrawn from offshore U.S. Gulf production facilities as Hurricane Delta was forecast to intensify into a powerful, Category 3 storm.
But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site.
These expectations also likely played a role in offering growth-linked crude oil prices a slight boost despite rising US inventories. We also write daily and weekly reports, covering key variables in U.S. natural gas market (supply, demand, storage, prices and more). Refinitiv Oil Research is tracking 662,500 tons of diesel and gasoil arriving from the East of Suez this week, after only two vessels were able to discharge last week.
Source: Bluegold Research estimates and calculations This week, the U.S. Energy Information Administration should report a smaller change in natural gas storage compared to the previous week. Tulsa, Oklahoma-based NGL is a master limited partnership (MLP) that transports oil and natural gas liquids through its pipelines.

United States

President Trump received the antibody cocktail last Friday and lauded the treatment in a video posted to Twitter yesterday, saying he would authorize its emergency use. The Fed and ECB project their mandates are also unlikely to be reached any time soon but were reluctant to provide more support last month. less President Trump threw another U-turn at investors this week, after tweeting that he supports legislation to authorise sending a second batch of $1,200 stimulus checks to Americans.
Furthermore, uncertainty in the US over whether a new coronavirus relief stimulus plan will be agreed is also putting pressure on the market. The question here is whether the growth is a result of Trump policies or simply a continuation of the recovery from the 2008 bank collapse. On Wednesday, Trump and his aides also shifted focus to calling for a series of standalone bills, including support for the airline industry, according to The WSJ. Investors are cautiously optimistic that lawmakers and President Trump will reach deals on individual spending packages aimed at offering relief to small businesses, households and airlines.
The S&P 500 gained 1.74% against the backdrop of rising US fiscal stimulus hopes as Trump proposed piecemeal fiscal aid after pouring cold water on hopes of a package. Last month, Trump signed an executive order banning military institutions and federal contractors from holding anti-bias training designed to combat sexism and racism in the workplace because, basically, #AllLivesMatter.
Overnight, President Trump praised an experimental antibody drug made by Regeneron, saying in a video message that it was key to his recovery from Covid-19.


Proven cost-cutting measures, coupled with access to additional capital via the planned Xinjiang Daqo IPO, give DQ the fuel for visible sustainable EPS growth.


The UK reiterated its threat to abandon talks with the EU at the end of next week yesterday, and sterling initially fell on the news. By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching. According to reports, Britain is set to abandon talks if no progress is made by October 15, when the EU Summit begins. This is the third advance purchase contract signed by the EU with makers of COVID-19 vaccines after deals with AstraZeneca and Sanofi.
Main focus: Europe, Eurozone, Germany and ECB.