Open: New York Session | Forex, Metals, Oil, Agriculture October 20, 2020



Downtrend scenario A downtrend will start as soon, as the cocoa market drops below support level 2350, which will be followed by moving down to support level 2160. Downtrend scenario A downtrend will start as soon, as the coffee market drops below support level 104, which will be followed by moving down to support level 95. Downtrend scenario A downtrend will start as soon, as the soybean market drops below support level 1046, which will be followed by moving down to support level 1000.
Downtrend scenario A downtrend will start as soon, as the soybean market drops below support level 854, which will be followed by moving down to support level 816. MARKET NEWS Chicago wheat futures edged higher, with prices trading near the previous session’s six-year peak on concerns over dryness in the key Northern Hemisphere producing regions. The U.S. soybean crop was 75% harvested, the USDA said, ahead of the five-year average of 58% but behind the average analyst estimate of 79%.
Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit. Balrampur Chini’s market cap is ₹3,248 crore constituting 24.07 per cent of the sugar sector. Three more of the 16 subject fields the corn in North Dakota, Minnesota and Illinois were completed, and just two fields remain.


The Australian dollar fell significantly on the news and was down against all other major G7 currencies, apart from the New Zealand dollar. We like emerging markets here as we believe the dollar is at an inflection point where the last several years of strength could turn into several years of weakness. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 93.37. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action.
The dollar index dipped, while gold prices were stable, hovering above the $1,900 level. In fact, one trader even made a multi-million dollar bet that NIO will remain above $20 through January 2022. less BL Research BureauThe rupee (INR) has opened flat today at 73.36 against the dollar (USD). The rupee depreciated by 12 paise and settled for the day at 73.49 (provisional) against the US dollar on Tuesday.
EM should benefit from the declining dollar that we expect and a rebound in certain commodities. FOREX: The euro rebounded to a one-week high as global stocks recovered from early losses with investors broadly in consolidation mode before the No.


The company posted a 7.2% rise in first-quarter iron ore production, slightly above expectations, supported by stable demand from China, the world’s top consumer of the steelmaking ingredient. BHP said, however, that December quarter iron ore production will be affected by work linking its Mining Area C and South Flank projects in Western Australia. “After stagnant output in 2019, world refined copper production is expected to increase by about 1.5% in 2020 and 2021,” the ICSG said in a release.
The board of directors of KIOCL (Kudremukh Iron Ore Company Ltd) on Monday approved a buyback proposal. An argument could be made to exclude SID from the portfolio as Vale (NYSE:VALE) already gives us exposure to iron ore. Pricing wasn’t too bad, with steel product pricing falling 4% qoq and downstream product pricing up modestly. North American revenue fell 8% yoy and rose 5% qoq, with strong steel product shipments (up almost 9%). The issue with iron ore exposure through an investment only in Vale is that Vale has been a dam disaster, pun intended.
Share of Hindustan copper has risen as much as 13.4 per cent to ₹37.24 on Tuesday.
On a per-ton basis, core EBITDA on finished shipped steel rose almost 9% qoq to $114.


Refinitiv Oil Research estimates that US seaborne crude imports are expected to have fallen by 8% week-on-week to a total of 4.88 million bpd. Crude Value Insights offers you an investing service and community focused on oil and natural gas. PNOC was awarded Service Contract 57 by the Department of Energy in 2005 covering the Calamian oil and gas prospect, near the Philippines’ Malampaya natural gas discovery. Sill, gasoline inventories are anticipated to have decreased by 1.77 million bbl, while distillates are likely to have fallen by 1.6 million bbl.
According to a Reuters poll, US crude stocks are likely to show a small draw of 0.24 million bbl for the week ending the 16th of October. On the other hand, stocks from the oil & gas sector and metal sector are witnessing most of the selling pressure. When economies around the world even return to 50% of what they were doing before the COVID-19 crisis, pent-up demand for oil will be unleashed. The country’s crude output rose by 500,000 bpd to 8.98 million bpd in August, the official figures showed.
Please understand that oil prices are so strongly linked to the performance of the company and the stock. Trump, at the rally, said he could raise large sums of money if he wanted to by calling oil and Wall Street executives.

United States

He proceeded to paint a scenario of what he could do – though Trump said he would not actually make the kind of phone call he described. Nasdaq Futures are trading up by 66 points (up 0.6%), while Dow Futures are trading up 77 points (up 0.3%). Nasdaq Futures are trading up by 73 points (up 0.6%), while Dow Futures are trading up by 145 points (up 0.5%). US stock futures are trading higher today, indicating a positive opening for Wall Street indices.
US stock futures are trading higher, indicating a positive opening for Wall Street indices. Japan s Nikkei ended lower, tracking overnight Wall Street losses, as investors cautiously looked to whether U.S. lawmakers could reach an agreement on a stimulus package. The market tends to do the opposite of what most people think, and most people think a Trump reelection will be positive for the market. less There is nothing like a deadline to sharpen minds – and there is a growing chance for a large fiscal stimulus package in the US.
Talks with Treasury Secretary Steven Mnuchin are set to continue later with neither side signaling that a deal is almost done. There was better news for UBS Group AG, which announced third quarter profits that beat expectations on higher transaction-based income.


India s government is considering formally starting talks on a trade deal with Taiwan as both democracies see relations with China deteriorate, in a move sure to anger Beijing. As the world grapples with the fallout of the COVID-19 pandemic, major miners are hoping Beijing’s commodity-intensive stimulus measures will deliver an economic rebound for China.


If Prime Minister Boris Johnson agrees to hold official talks, sterling could shine. but the official British position remains that the EU first needs to make concessions. The UK government said that talks with Chief EU Negotiator Michel Barnier were . EU’s first social bonds are a blockbuster issuance. The EU plans to restrict visitors from Canada, Tunisia and Georgia, while reopening its doors to travelers from Singapore. “But we also can’t forget about Brexit.