Corn ends lower despite rising Chinese imports
Corn prices fell on Friday, due to coronavirus concerns, despite the US dollar's drop against most currencies and positive Chinese imports data.
Corn was lifted earlier today, Friday, while investors awaited the release of the US Department of Agriculture report on supply, demand, and exports of the US farm goods.
A recent report by the USDA showed that China's imports of US corn for the 2020/2021 marketing season reached 22 million tonnes, beating the department's official estimates of only 7 million tonnes.
The dollar index fell against a basket of currencies by 0.3% to 92.2 points as of 21:12 GMT, after it hit a high of 92.8 points and a low of 92.1 points.
Corn December futures fell 0.8% to $4.06 per bushel, after hitting a day high of $4.12 and a low of $4.05.
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Yen rises on better-than-expected data
The Japanese yen rose against the US dollar on Friday, after the release of better-than-expected economic data, while the dollar continued to weaken amid anticipation of the US presidential election results.
Earlier Japanese data showed household spending fell 10.2%, lower than forecasts of a drop by 10.5%. The average personal income also fell by 0.9%, lower than forecasts of a drop by 1.1%.
The results of the US presidential election have not been announced yet, but most projections show Joe Biden has won against Donald Trump.
Global markets are still witnessing a strong impact from the coronavirus crisis, especially after several key European countries were hit by a second wave and were forced to re-impose lockdown restrictions.
As of 20:07 GMT, USD/JPY fell 0.3% to 103.2, with a day high of 103.7, and a low of 103.1.
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Silver gains 8.5% this week
Silver prices rose on Friday, as the US dollar fell against most currencies amid uncertainty over the US presidential election results.
The US Department of Labor reported today that the economy has added 638,000 new jobs in October, beating forecasts of 595,000, vs, 672,000 new jobs in September, while the unemployment rate fell to 6.9% from 7.9% in September, also better than forecasts of 7.7%.
The winner of the US presidential election is most likely to be revealed in few hours, with most expectations for the Democratic candidate Joe Biden to win over his Republican rival Donald Trump.
The dollar index fell against a basket of currencies by 0.3% to 92.2 points as of 20:35 GMT, after it hit a high of 92.8 points and a low of 92.1 points.
Silver December futures rose 01.9% or 47.1 cents, and closed at $25.662 an ounce, posting an 8.5% gain this week, with a day high of $25.975 and a low of $25.010.
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Canadian dollar inches up after positive jobs data
The Canadian dollar edged higher on Friday, following the release of upbeat jobs data, amid anticipation of the US presidential election results.
Data showed today that the Canadian economy has added 83.6K new jobs during October, beating forecasts of 59K jobs.
The unemployment rate fell to 8.9% in October, also beat forecasts of the index to hold unchanged at 9%.
Similarly, the US Department of Labor reported today that the economy has added 638,000 new jobs in October, beating forecasts of 595,000, vs, 672,000 new jobs in September.
The results of the US presidential election have not been announced yet, but most projections show Joe Biden has won against Donald Trump.
As of 17:57 GMT, CAD/USD rose 0.15% to 0.7672, after hitting a high of 0.7682, and a low of 0.7635.
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