01/10/2018 – Argonaut Morning Note

Market Update & Important Indicators:

US and Canada engaged in last-minute negotiations to reach NAFTA deal after the US and Mexico made an agreement in August; Commodities posted the longest losing quarterly streak in more than three years, amid a stronger dollar, trade frictions and concerns over the Chinese demand outlook; Copper slid into a bear market and gold posted its longest run of monthly losses in two decades; Most of last month’s gains were attributed to oil with Brent holding above $80 and producers now debating the likelihood of a return to $100 crude; Shell partners agree $31bn LNG Canada project, which would carve out the fastest route to Asia for North American gas; Zambia, Africa’s second largest copper producer is set to increase mining royalties by 1.5% in 10th tax change in 16 years