Agriculture
Downtrend scenario The downtrend may be expected to continue, while the corn market is trading below resistance level 321, which will be followed by reaching support level 262. Downtrend scenario A downtrend will start as soon, as the corn market drops below support level 390, which will be followed by moving down to support level 375 355. less Uptrend scenario An uptrend will start as soon, as the corn market rises above resistance level 399, which will be followed by moving up to resistance level 412.
MARKET NEWS Chicago soybean futures rose for a third consecutive session as strong demand from China and dry weather in Brazil underpinned the market. The statement comes after Argentine authorities approved a new genetically modified wheat that can resist drought and tolerates the herbicide glufosinate sodium. Coffee may revisit its September high while cocoa its July low.
MARKET NEWS Chicago soybean futures rose for a third consecutive session as strong demand from China and dry weather in Brazil underpinned the market. The statement comes after Argentine authorities approved a new genetically modified wheat that can resist drought and tolerates the herbicide glufosinate sodium. Coffee may revisit its September high while cocoa its July low.
Currencies
Dollar indexThe dollar index was sluggish yesterday and ended the day on a flat note. FOREX: The Australian dollar dropped to a one-week low after the head of the central bank hinted of a possible rate cut or bond purchases. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. The U.S. dollar rose 0.1% against a basket of rival currencies supported by the lack of progress on the stimulus measures and the rising number of COVID-19 infections.
The PBOC set the dollar’s reference rate at CNY6.7374, which in line with bank projections. There is unprecedented pressure on the dollar coming with more fiscal stimulus set to come out of Washington. Moreover, a backlog of applications in California may result in a bump up, triggering additional flights to the safety of the dollar. A stronger dollar hurt gold prices. A stronger U.S. dollar hurt gold prices.
More stimulus will be bad for the dollar and good for precious metals.
The PBOC set the dollar’s reference rate at CNY6.7374, which in line with bank projections. There is unprecedented pressure on the dollar coming with more fiscal stimulus set to come out of Washington. Moreover, a backlog of applications in California may result in a bump up, triggering additional flights to the safety of the dollar. A stronger dollar hurt gold prices. A stronger U.S. dollar hurt gold prices.
More stimulus will be bad for the dollar and good for precious metals.
Metals
However, gold prices were also up nicely to $1,708 per ounce versus $1,312 per ounce a year ago. In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. We also talked about gold investing and how small-cap mining stocks are now jumping thanks to higher gold prices. (Video length 00:24:55) Gold Stocks, Precious Metals Prices, Stock Market Commentary, Stock Market News, Stock Trading Strategies, Technical Analysis Michael Swanson is the founder and head editor of WallStreetWindow.com.
The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. We like the prospects here as the stock pulls back especially since we see gold and silver catching a nice bid once the next stimulus bill passes. With a lower silver and gold price compared to several years ago, the only way to survive was to lower costs.
Gold may drop more, driven by a wave four Base metals may keep their bullish momentum awhile, but with limited upside. Gold may drop more, driven by a wave, while four Base metals may keep their bullish momentum awhile, but with limited upside. Silver and gold prices have surged and may consolidate, but the outlook is still bullish.
The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. We like the prospects here as the stock pulls back especially since we see gold and silver catching a nice bid once the next stimulus bill passes. With a lower silver and gold price compared to several years ago, the only way to survive was to lower costs.
Gold may drop more, driven by a wave four Base metals may keep their bullish momentum awhile, but with limited upside. Gold may drop more, driven by a wave, while four Base metals may keep their bullish momentum awhile, but with limited upside. Silver and gold prices have surged and may consolidate, but the outlook is still bullish.
Oil
Oil demand and prices have tumbled this year as a glut of oil hit the market just before the COVID-19 pandemic swept the globe. Canada, the world’s fourth-largest oil producer, pumps out the highest emissions per barrel among major oil nations, according to Rystad Energy. Shut crude oil production is 31% or, 568,505 barrels per day (bpd), as of midday Wednesday, BSEE said. BEFORE THE BELL Canada s main stock index futures were dragged down by weakness in oil prices over future demand concerns.
This stock is likely unsuitable for dividend investors in the near term unless there is an immediate rise in oil prices to $50/bbl.
Movements to target tobacco producers and companies in Apartheid-era South Africa inspired the 2010 initiative to pressure investors to dump oil and gas stocks over climate change concerns. Malaysian palm oil futures were little changed as signs of subdued supply due to wet weather and a labour shortage countered demand worries driven by lower Oct. 1-15 exports. In addition to asset price appreciation, FPIs have also been active investors in the Oil & Gas sector.
Crude Value Insights offers you an investing service and community focused on oil and natural gas. U.S. crude oil output will grow modestly next year, CEO Vicki Hollub said.
This stock is likely unsuitable for dividend investors in the near term unless there is an immediate rise in oil prices to $50/bbl.
Movements to target tobacco producers and companies in Apartheid-era South Africa inspired the 2010 initiative to pressure investors to dump oil and gas stocks over climate change concerns. Malaysian palm oil futures were little changed as signs of subdued supply due to wet weather and a labour shortage countered demand worries driven by lower Oct. 1-15 exports. In addition to asset price appreciation, FPIs have also been active investors in the Oil & Gas sector.
Crude Value Insights offers you an investing service and community focused on oil and natural gas. U.S. crude oil output will grow modestly next year, CEO Vicki Hollub said.
United States
at 80 percent with just six percent of people there rooting for another four years for President Trump. Alongside this, with comments from US Treasury Secretary Mnuchin that a stimulus package before the election is unlikely, upside may be hard to come by in the short-term. The distribution requirements have pushed plenty of well-known delivery companies including UPS and FedEx into the vaccine cold-chain arena, as well as brands less familiar to the general public.
The concurrent hour long events start at 8 p.m. New York time with Trump on NBC and Biden on ABC.Campaign 2020There are 19 days until the election. The US is likely to have the largest deficit among the high-income countries next year as it did this year. The US markets ended last session in negative territory, Dow Jones declined 0.6 per cent to 28,514 and S&P 500 had fallen 0.6 per cent to 3,488 levels. The US presidential election may retake the spotlight in the day ahead.
This is where the idea of the Fed was born as a private bank, owned and controlled by private bankers with the right to issue the nation’s currency. The Fed’s speaking calendar remains busy with six officials speaking today, including Barkin at the Economic Club of New York. Yep, a grand strategy review of its own that doesn’t need the Fed’s year and a half of “study” to predictably end with the all same conclusions.
The concurrent hour long events start at 8 p.m. New York time with Trump on NBC and Biden on ABC.Campaign 2020There are 19 days until the election. The US is likely to have the largest deficit among the high-income countries next year as it did this year. The US markets ended last session in negative territory, Dow Jones declined 0.6 per cent to 28,514 and S&P 500 had fallen 0.6 per cent to 3,488 levels. The US presidential election may retake the spotlight in the day ahead.
This is where the idea of the Fed was born as a private bank, owned and controlled by private bankers with the right to issue the nation’s currency. The Fed’s speaking calendar remains busy with six officials speaking today, including Barkin at the Economic Club of New York. Yep, a grand strategy review of its own that doesn’t need the Fed’s year and a half of “study” to predictably end with the all same conclusions.
China
Riling China | China lashed out at Canada after Justin Trudeau said the northern nation would stand up to Beijing s coercive diplomacy. The PBOC injected liquidity into the banking system, more than is rolling off tomorrow.
Europe
less COVID cases are rising tougher lockdown restrictions are being implemented, Boris Johnson is disappointed by Brexit talk progress and a US stimulus agreement is still some distance away. A lack of warmth is also felt in Brexit negotiations, as EU leaders are set to authorize further talks with the UK – yet without intensifying them. Despite setting an October 15 deadline for reaching a trade “outline” with the EU, Prime Minister Boris Johnson is not walking away from negotiations.
Yesterday, Chancellor Merkel announced tougher restrictions in light of record daily increases in COVID cases. The monetary rules of the ECB mean it needs the EU to nod at breached debt guidelines to put stimulus in place. The UK’s chief negotiator will inform Prime Minister Johnson that a trade deal with the EU is still possible. EU leaders are to meet today to seek concessions from the UK on a number of different issues with neither side seemingly wanting to budge at the moment.
Prime Minister Boris Johnson retreated from his aim to abandon the negotiating table, but only after persuasion and without any breakthrough he can write home about.
Faced with the same longer-term problems – as well as an even greater short-run shortfall – guess what Christine Lagarde’s ECB announced just recently. Sterling in focus on Brexit talks deadline.
0 Yesterday, Chancellor Merkel announced tougher restrictions in light of record daily increases in COVID cases. The monetary rules of the ECB mean it needs the EU to nod at breached debt guidelines to put stimulus in place. The UK’s chief negotiator will inform Prime Minister Johnson that a trade deal with the EU is still possible. EU leaders are to meet today to seek concessions from the UK on a number of different issues with neither side seemingly wanting to budge at the moment.
Prime Minister Boris Johnson retreated from his aim to abandon the negotiating table, but only after persuasion and without any breakthrough he can write home about.
Faced with the same longer-term problems – as well as an even greater short-run shortfall – guess what Christine Lagarde’s ECB announced just recently. Sterling in focus on Brexit talks deadline.
