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



Global competition for the ribbed steel containers means that Thailand can t ship its rice, Canada is stuck with peas and India can t offload its mountain of sugar. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.


The dollar broke out of 0.8920, a key resistance level against the franc, while the euro slipped after Germany’s December retail sales let down market players. All the assets that act as a safe-haven from the US dollar meltdown are taking their turn to hammer the US Dollar. While before the regulator’s meeting all major currencies were trading in positive territory, after the meeting the Australian dollar, the yen and the franc turned negative. US Dollar trades around 7 week high although steps towards bypassing Republicans over Joe Biden’s $1.9 trillion stimulus could keep US under pressure.
Silver failed to break the August high and trades lower overnight after the CME raised margins, the dollar trades stronger and after was left unimpressed by the latest surge. FOREX: The euro struggled at seven-week lows against the U.S. dollar as concerns about extended lockdowns dampened sentiment towards the single currency. The US dollar hit a six-week high as the euro and the Swiss franc weakened.
The franc was the first currency to move lower against the dollar for several hours. Bitcoin has been hammering the US dollar since the last quarter of 2020, rising from around $12 000 to a high of about $41 000. In the meantime, any further movement in the dollar appears propped up by investors’ doubts surrounding the imminent debate around fiscal stimulus by US policymakers.


Hubert is an independent gold and silver analyst who specializes in fractal analysis and the fundamentals of gold and silver . … more Hubert is an independent gold and silver analyst who specializes in fractal analysis and the fundamentals of gold and silver . In the international market, gold traded lower at USD 1,847 per ounce, and silver also dipped to USD 27.50 per ounce. Bitcoins seem to have followed the path (following silver) as expected, and the baton has likely been handed to silver.
Gold and silver prices fell despite yields on US 10-year Treasuries dipping 1 basis point lower. 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. Silver is still lagging below the recent high (point 3 high), and will eventually follow Bitcoin higher than point 3 in this comparison. “Beyond this week, and possibly sooner, we believe the new entrants into the market may tire and begin to liquidate silver holdings, with a commensurate price impact.
Precious metals analysts expect silver prices to remain volatile in the near term. Silver prices dropped as a margin hike by the Chicago Mercantile Exchange halted the metal s rally.


Learn more about forex Oil (OIL) prices are on the rise after major producers showed that they were cutting crude output adhering to commitments on restraints. The West Texas Intermediate Crude Oil (OIL) market pulled back a bit during the beginning of the session on Monday but then shot straight up in the air. China is also hoarding oil as they realize that the price of oil may go sharply higher in the future. BEFORE THE BELL Futures for Canada’s main stock index rose as oil prices advanced on falling inventories and higher demand.
Brent crude futures, the global oil benchmark, rose 1.46 per cent to USD 57.17 per barrel. As consumer awareness increases around climate change and demand shifts away from the oil and gas industry, the demand for EVs grows immensely. Oil prices advanced on falling inventories and higher demand. Total production of 2,155 thousand barrels of oil equivalent per day (MBoe/d) was lower than the year-earlier quarter level of 2,698 MBoe/d.
Last year it was negative oil prices. Falling US crude inventories and the vaccination programs also supported oil prices.

United States

In what amounted to a test vote, only five Republican senators voted with Democrats last week to block an effort to declare Trump’s impeachment trial unconstitutional. But Schoen told the Washington Post on Sunday he would not make fraud arguments, and a former colleague said he couldn’t see Castor touching Trump’s “preposterous” claims either. It’s likely Trump turned to the Alabama solo practitioner based on his work last year on behalf of the former president’s longtime ally Roger Stone.
Wall Street stocks closed higher on Monday as market participants shook off anxiety stemming from last week’s speculative retail trading mania. France late last year started charging companies a 3% levy on digital revenue, prompting threats from the Trump administration to impose tariffs on $1.3 billion of French goods. Democrats impeached Trump a week later, charging him with inciting insurrection, and his trial will begin in the Senate next week.
Save America, a leadership PAC Trump launched a week after the election, took in $30.9 million between Nov. 24 and the end of the year. Last week, Representative Matt Gaetz of Florida, who has closely aligned himself with Trump, went to Cheney’s home state of Wyoming for a rally denouncing her. The RNC took in $45.3 million, including the transfers from Trump Make America Great Again, and ended the year with $80.5 million in cash on hand. After four years of turmoil under Trump, it’s time for both sides to take a moment and reflect,” said Zhu Feng, professor of international relations at Nanjing University.


It would have to jettison its preferential treatment of state-owned enterprises, for example, and stronger protection of intellectual property would be required, along with other changes Beijing resists. Jack Ma was absent from a list of China s entrepreneurial greats published by state media, underscoring how far the Alibaba co-founder has run afoul of Beijing. Beijing does not share such sensitivities, and Secretary-General Xi seemed keen to participate at the end of last year.
In June, Vucic drew condemnation from pro-EU politicians for kissing the Chinese flag when an airplane delivered medical gear from Beijing to Belgrade. Chinese President Xi Jinping has a vested interest in dozens of infrastructure projects key to his regional Belt and Road ambitions. “These are the issues that U.S. will definitely touch,” Shi Yinhong, director of Renmin University’s Center on American Studies in Beijing.


Bayer’s production effort extends its current pact with CureVac — a German startup that got investment from Merkel’s government last year — on regulatory clearance and global distribution. “That has eclipsed last week’s bearishness over the EU’s vaccine troubles.”PricesOPEC may be adding less supply into the market than expected. Chancellor Angela Merkel vowed to offer all Germans a vaccine by the end of September, even if new shots aren’t approved. Already, the Serbian approach has its followers within the EU: neighboring Hungary became the first member of the bloc to approve shots made by Russia and China.
“I would have wished that France, Europe could have been more present on your side on the topic of vaccines,” Macron told Vucic and a group of reporters. Transport delays, especially at ports, following the end of the Brexit transition period also led to temporary supply chain disruptions. Serbia’s goal is to join the EU, though with an electorate already divided over membership, the pandemic risks pushing the country into the orbit of rival powers.
There is a perception of China being more prepared to help than the EU, said Faris Kocan, a foreign policy researcher at the University of Ljubljana. A tunnel could be economically feasible as a private-public partnership, with EU aid covering 40% of the cost, a study commissioned by both countries showed in 2018. In Europe, meanwhile, German Chancellor Angela Merkel is trying to reassure citizens on the availability of vaccines amid the region’s slow rollout.