Close: London Session | Forex, Metals, Oil, Agriculture April 19, 2021



Through the Great Financial Crisis, the Trump years of seeking a weaker dollar, and the shock of the pandemic, the dollar’s role remains quite stable. Smaller gains were recorded by the Australian dollar (+1.51%), the British pound (+0.95%), the Japanese yen (+0.81%), the euro (+0.71%), the Swiss franc (+0.51%), and the Canadian dollar (+0.14%). The steepest increase against the US dollar were seen in the New Zealand dollar (+1.59%). CMC Markets chief market strategist Michael McCarthy commented that the lower interest rates and a weaker dollar are lifting the bullion despite the strong economic recovery.
Looking ahead, the US dollar price action and broad market sentiment will lead the way for gold traders, especially, in absence of relevant economic news from the US. This bullish momentum has continued in early trading today with gold currently trading at $1789.2 per ounce and helped further by some weakness in the US dollar. The dollar index plunged to a one-month low that made gold less expensive for traders and investors using rival currencies.
The dollar fell, after Federal Reserve reiterated that spike in inflation is likely to be temporary, while gold edged higher. The U.S. dollar fell, after Federal Reserve reiterated that spike in inflation is likely to be temporary, while gold edged higher. Many reports in the western press have played up the threat posed by China’s efforts to introduce a digital currency to the dollar’s role.


The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. In the future, will digital currencies (when combined to physical gold or physical silver) offer a new opportunity for re-inventing the old banking system? The precious metal also draws support from the reports that China has granted permission to its domestic and international banks to import large amounts of gold into the country.
Western world governments were issuing credit notes ‘paper money’ by the 1700s, with these notes backed by a ratio of gold and silver. less The debate between relatively new digital cryptocurrencies versus ‘tried and true’ gold has dominated most precious metals related websites. We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Perth and soon Dubai. Also, notes which could not be converted into the hard asset, usually silver or gold, were considered fraudulent.
For instance, the US government halted notes backed by gold as well as silver during the American civil war. There are also reports that the government authorized commercial banks to import large amounts of gold. Using gold reverts currency back to the origins of how our traditional banking system started and helps ‘stabilize’ price instability.


Oil prices have risen over the past week due to a rosier demand outlook. Pent-up demand for goods and services and the distribution of stimulus checks may continue to underpin crude oil prices. Therefore, a worsening pandemic situation in the country may dampen the global oil demand outlook. Uneven vaccine rollouts around the world, ongoing Iran nuclear talks and climbing coronavirus cases in India render oil prices susceptible to profit-taking. Traders are waiting for fresh catalysts to support oil’s rally after prices registered their largest weekly gain since early March.
The combination of higher oil prices and higher rates in Norway is why we hold our view for EURNOK coming further below 10.00 towards and over the summer. Oil prices were lower, weighed by demand concerns. End in sight The unprecedented build-up of oil inventories during Covid-19 lockdowns last year is almost gone. India is the world’s third-largest oil-importing country and it consumes nearly 10% of global crude oil exports.
Moreover, the vaccines and the following global recovery should give a boost to the oil price, as they have done so far.

United States

The housing market is crucial to every economy, as evidenced by the fact that the 2008-2009 global financial crisis started with the US housing market. Last week we warned that the US Government was due to borrow sizable amounts and that if demand was weak, then long US rates could jump higher. Five- and seven-year maturities saw strong demand, suggesting aggressive bets on Fed rate hikes seen earlier in the year were being pared back. Wall Street futures eased after the S&P 500 and the Dow closed at record highs in the previous session, while investors geared up for quarterly earnings reports.
Friday saw a sizable upside mid-curve play targeting additional Fed easing priced into September 2022 eurodollar futures, which open-interest data confirmed as a new position. less The Netflix Inc. (Nasdaq: NFLX) stock has been trading sideways since the 26th of January, with the 496.00 and 557.00 barriers containing most of the price action. He is an avid market watcher having followed capital markets in the US and India since 1993.
Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. If we were forced to lean in any direction, the USD could strengthen somewhat more than NOK due to the outperformance of the US economy. Fed Governor Christopher Waller said there is still “no reason to be pulling the plug” on the central bank’s support to the economy.


U.K. Prime Minister Boris Johnson canceled a visit to India next week amid soaring coronavirus cases in the country and the emergence of a new variant. Pfizer Inc: The European Union has exercised an option to acquire an additional 100 million doses of BioNTech and Pfizer’s COVID-19 vaccine, the two companies said. This brings the total number of doses to be delivered to the 27 EU members to 600 million in 2021, the companies said in a statement. EU Orders 100 Million Additional Pfizer Doses Bloc needs more shots to offset challenges from Astra, J&J vaccines.
They’re followed by Singapore, Canada and the U.K.The report also said more than 88% of CBDC projects at pilot or production phase use blockchain as the underlying technology. From central banks, this week’s highlight will be the latest ECB decision on Thursday, along with President Lagarde’s subsequent press conference. Scotland on average voted to Remain, and Scottish politicians will likely use the Brexit issue to try and leverage another independence referendum.
FX participants should also keep in mind that the ECB is scheduled to hold a regular monetary policy meeting on Thursday. This will be the first major public test of the post-Brexit public climate. Does the European Union s carbon border adjustment mechanism sound unbelievably dull?