Close: London Session | Forex, Metals, Oil, Agriculture August 02, 2021



Powell’s recent dovish remarks started a sugar high among investors. 28, their sugar high ended on Jul.


Once the ten stocks are determined, an investor invests an equal dollar amount in each of the ten stocks and holds them for the entire next year. Today, among the top 10 investors in startups by dollar amount, half are nontraditional venture investors, including Fidelity Investments Inc. and Tiger Global Management. The US dollar’s break below 1.2430, a key support from the daily time frame, indicates that sentiment still favors its northern neighbor.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, dipped 0.21 per cent to 91.97. Silver extends the rally as the US dollar weakens across the board (SLV). On Friday, the rupee had settled at 74.42 against the US dollar. The Canadian dollar rallies as Canada’s GDP showed a smaller contraction in May. less The euro inched higher after the eurozone’s Q2 GDP growth topped estimates.


In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought. While gold, silver and mining stocks jumped for joy following Fed Chairman Jerome Powell’s dovish remarks on Jul. Well, for one, it seems very likely that gold miners are declining similarly to how they declined in 2008 and 2012-2013. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.


Despite the impact the pandemic had on U.S. oil production, the U.S. remained the world’s top oil producer** at 11.3 million BPD. In order to qualify as proved reserves, oil needs to be technically and economically recoverable at prevailing oil prices. The U.S. also leads all countries in the production of natural gas liquids (NGLs), which partially end up in the oil products supply chain. China was second at 14.2 million BPD, and was the only country in the Top 10 to report an increase in oil consumption in 2020.
Today, I want to cover the production and consumption of petroleum (OIL). The United States remains the world’s top oil consumer, averaging 17.2 million BPD in 2020. Note that these production numbers are for crude oil and lease condensate. The Review reports that global proved oil reserves declined by 0.1% to 1.72 trillion barrels. During a six-year stretch at ConocoPhillips, Robert ran a team of engineers in Scotland working on oil and gas projects in the North Sea.
For 2020, the Review reported the largest decline in oil* consumption on record.

United States

The recent strong response to Zomato IPO and its 80 per cent gains on listing day has raised interest around tech based start-ups among retail investors. “Strong capital requirements are essential for banks, particularly for the largest banks,” Mr. Powell told reporters Wednesday, at the conclusion of a two-day Fed policy meeting. However, last week, after a host of corporate earnings came out, the stock market performance in the US was highly disappointing.
The takeaway is that with the constant redefinitions of what transitory should mean now, the concept of Fed as inflation fighter is subject to well deserved mockery. That said, the drop in the prices paid index does give credibility to the Fed’s transitory narrative and patiently accommodative stance. The Nasdaq continued to trade in positive territory, but the strong reading on employment might have briefly weighed negatively on risk appetite. After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst.
No need to be spooked by the tech weakness or valuations just yet – with the Fed having the markets‘ back e.g. Share Photo: Becky Bohrer/Associated Press By James Willhite Close Aug. 2, 2021 6:56 am ET U.S. stock futures rose Monday, suggesting that Wall Street indexes could reach new records. Nasdaq price action was up around 0.5% at the opening bell in New York with the Dow Jones and S&P 500 following in stride.


His feature articles have been published on:,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc.