Friday, December 3
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Dollar holds tight ranges as investors await news on Trump’s health

Article content continued"Things are completely unforeseeable now, with questions such as whether Trump will become less aggressive after his recovery… and if his supporters will find that appealing," said Rikiya Takebe, senior strategist at Okasan Online Securities."There is also a question of whether his recovery will garner more sympathy votes," said Takebe.Traders adjusted their positions in safe-harbor currencies.The dollar rose 0.23% against the safe-haven Japanese yen to 105.545, after its sharpest fall in more than a month on Friday.However, the greenback edged lower against the Swiss franc, fetching 0.91700, near a one-week low of 0.9163 it marked on Wednesday.Some market participants said the franc's rise against the yen was also partly caused by news of Japanese NEC Corp's $2...
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Oil prices rebound 2% as Trump doctors raise prospect of hospital discharge

Article content continuedPrices were also supported by an expanding workers' strike in Norway on Monday that could reduce the country's production capacity by as much as 330,000 barrels of oil equivalent per day (boepd) or 8% of its total output, according to the Norwegian Oil and Gas Association.These offset indications of rising oil supply in the market.Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), has seen a near three-fold rise in its output which hit 270,000 barrels per day last week after eastern forces eased a blockade on the country's oil infrastructure."That very fragile supply deficit that we have looks like it's going to be gone if Libya does produce an extra half a million (bpd) more alone," OCBC's economist Howie Lee said, adding it could ...
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Iron ore outlook is finely balanced as supply picks up, China demand holds up: Russell

Article content continuedHowever, there are signs that Brazil's exports are recovering to pre-coronavirus levels, with Refinitiv vessel-tracking and port data showing shipments of 32.7 million tonnes in September.The official data was even more bullish, showing exports of 37.86 million tonnes in September, up 18.7% from the same month a year earlier.The Refinitiv data showed September shipments slightly below August's 35.4 million tonnes, but well up from January's 20.8 million, 21.3 million in February and 22.9 million in March.South Africa's exports were 5.5 million tonnes in September, the highest since January and some 48% higher than the 3.7 million from April – the nadir so far this year.Shipments from number one exporter Australia have been largely steady in recent months, with R...
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Port of Rotterdam Pilot Uses AI Microgrid to Trade Renewables

Article content(Bloomberg) — The Port of Rotterdam is testing technology to manage and trade renewable energy consumption, finding the effort has already made a significant cost savings.S&P Global Platts and BlockLab used artificial intelligence and blockchain technology to manage the microgrid, known as Distro. Energy users costs were lowered by 11% and renewable energy producers saw a 14% improvement in revenues by using the technology.The system is located in the Port of Rotterdam's Innovation Dock, which started in July. The project uses an artificial intelligence trading agent, that trades renewable energy from solar and battery storage to manage the power consumption for its users.Using a 48 hour forward market place, the system allows users to operate machinery when locally produ...
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New Zealand ruling party vows to ban efforts to alter sexual orientation

Article contentWELLINGTON — New Zealand Prime Minister Jacinda Ardern's center-left government vowed on Monday to ban conversion therapy, which aims to change a person's sexual orientation, if returned to power, as widely expected, in polls on Oct. 17.The globally discredited treatment, which harms and stigmatizes members of the lesbian, gay, bisexual or trans community has adherents in New Zealand, however.A recent survey showed more than one in six respondents reported being subjected to the efforts of psychiatrists, psychologists or counselors to stop them being trans or non-binary, Labour Party leader Tāmati Coffey said."Conversion therapy has been linked to severe adverse mental health issues, including depression, anxiety and suicidal ideation – that's why it will be banned under ...
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India’s coronavirus infections rise to 6.63 mln

Article contentBENGALURU — India's coronavirus case tally rose by 74,442 in the last 24 hours to 6.63 million on Monday morning, data from the health ministry showed.Deaths from coronavirus infections rose by 903 to 102,685, the ministry said.India's death toll from the novel coronavirus rose past 100,000 on Saturday, only the third country in the world to reach that bleak milestone, after the United States and Brazil, and its epidemic shows no sign of abating.Last week, India further eased restrictions and permitted states to open schools and movie theaters. (Reporting by Chandini Monnappa in Bengaluru; Editing by Muralikumar Anantharaman) financialpost.com
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Even with the president’s illness, the Trump administration’s false and misleading claims about COVID-19 continue

US President Donald Trump and his staff have misled the public and each other about the threat posed by COVID-19, undermining trust and threatening lives. President Trump reportedly told an advisor not to tell others about his initial positive coronavirus test. His closest allies, including his campaign manager, only learned about it from the media. Deception has continued as the president's actual health status has largely been obfuscated: his doctors painting a rosy picture while prescribing medication reserved for the sickest patients. Visit Business Insider's homepage for more stories. President Donald J. Trump averages a dozen or so "false and misleading"claims each day. That was before he was infected with the novel coronavirus. ...
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Gold holds steady as market eyes Trump’s health

Article contentGold prices were little changed on Monday,as investors sought more clarity on developments in USPresident Donald Trump's health after he tested positive forCOVID-19 last week.Spot gold was nearly flat at $1,896.21 per ounce by0328 GMT.US gold futures were down 0.3% at $1,902."There'll be reluctance to sell gold at this stage becauseof the increasing amount of uncertainty as we head towards theUS presidential election," said Howie Lee, an economist atOCBC Bank.Doctors treating Trump for COVID-19 sent conflicting signalsabout the severity of his condition on Sunday, hours before hesurprised supporters gathered outside the hospital with animpromptu motorcade.Trump was flown to the hospital for coronavirus treatmentlast week, adding to political uncertainty ahead of the Nov. ...
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Corn, soybeans extend losses as US harvest pressure builds

Article contentSINGAPORE — Chicago corn futures slid for a second session on Monday with prices coming under pressure on expectations of a weekly US report showing rapid harvest progress.Soybeans fell, while wheat gained ground.“US harvest is progressing well as the weather has been pretty good,” said Phin Ziebell, agribusiness economist at National Australia Bank. “Chinese buying has supported prices but if you look at the past, China's imports of US products have been normal, there is no unusually high demand."The most-active corn contract on the Chicago Board Of Trade (CBOT) was down 0.1% at $3.79-1/4 a bushel, as of 0316 GMT and soybeans fell 0.2% to $10.19-1/4 a bushel. Wheat added 0.3% to $5.75 a bushel.The US Department of Agriculture (USDA) is due to issue a weekly crop progress...
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Costa Rica’s president backtracks on austerity plan aimed at securing IMF loan

Article contentSAN JOSE — Costa Rica's president said on Sunday he would withdraw a contentious austerity proposal aimed at helping the government secure a major loan from the International Monetary Fund (IMF), after four days of tense street protests.President Carlos Alvarado's government last month proposed a series of measures meant to help the tourism-dependent economy weather the coronavirus crisis, including hiking taxes and freezing public sector wages, as part of a negotiation with the IMF for a $1.75 billion loan.Alvarado, whose center-left party has a minority in Congress, said he still hoped to reach an agreement with the IMF for the loan, but would communicate with various sectors to retool the economic recovery plan."Understanding the sentiment that exists and the need to t...