Close: London Session | Forex, Metals, Oil, Agriculture February 08, 2021



They spend eight hours a day sorting 1,300 packages every hour from bins onto a conveyor belt – no restroom or coffee breaks required. Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.


The yield on the 10-year US Treasury hit its highest level (1.196%) in a year earlier in the European session, pushing the US dollar basket higher. The US Dollar Index rose for a second week, creating headwinds for assets denominated in foreign currencies after measuring results in terms of greenbacks. During the session, the unit touched a high of 72.80.However, the rupee pared gains to close lower by 4 paise at 72.97 due to dollar buying by importers.
The US dollar does have a major influence on the gold market, but it can decouple from time to time. less The gold markets rallied slightly during the trading session on Friday as the US dollar lost a little bit of strength. Major reserve currencies, outside the dollar, fell, and main investments, bonds, fell. At the end of the day, the US dollar can strengthen against everything else, but gold might strengthen against the greenback due to the overprinting. This is bad news for the US dollar, as it will flood the market with even more of them.
The dollar strengthened, while gold prices edged up. The U.S. dollar strengthened, while gold prices edged up.


After this morning’s rally, though, one bitcoin is worth more than 23 ounces of gold, and the ratio increases by one ounce for every 4% rally in bitcoin. Based on the relative strength of bitcoin versus gold, gold 1.0 looks a lot less shiny these days. When bitcoin last peaked in late 2017, the ratio of bitcoin to gold peaked at just under 15. A year ago today, the ratio was under six ounces of gold for every bitcoin. Gold marginally extended its recovery off last week’s two-month low, near $1785.A move above $1820 could spur another $10 rally.
Back in early January, the ratio surged to more than 21 ounces of gold for every bitcoin. Bloomberg’s Joe Wiesenthal touched a nerve with this tweet last week, showing that gold prices had dropped since the Georgia Senate runoffs. One of the primary arguments for bitcoin these days is it serves as a digital store of value- or gold 2.0. Lots of stimulus out there just waiting to be implemented almost certainly means that gold will go higher given enough time.
Seems like we’re not talking enough about the fact that gold has been tanking ever since the Georgia runoff election.


Chevron and Exxon are two of the major oil companies that did not cut its dividend in 2020 after the price of crude oil plummetted. Oil companies continue to struggle and try to find their way, despite a slight rebound in the price per barrel of oil. With an estimated 590 million barrels of oil and the potential to produce 160,000 barrels per day, Willow would be the westernmost operating oil field in Arctic Alaska. less The MCX-Crude oil futures contract has been on an intermediate-term uptrend since April last year when it recorded a low of ₹795 per barrel (BBL).
BEFORE THE BELL Futures for Canada’s main stock index rose as oil prices gained, boosted by supply cuts among key producers. Oil hit a fresh yearly high on Monday boosted by supply cuts among kjey producers and hopes for additional US stimulus measures which would boost demand. Strengthening crude oil prices and colder weather forecasts would lend further support to rest of energy complex including carbon.
Oil prices gained, boosted by supply cuts among key producers. Crude oil since its peak back in 2008, has created a series of lower highs and lower lows inside of falling channel (1).
Oil-and-gas companies have been laying the policy groundwork for some time: Exxon was among the first oil companies to lobby for a national tax on carbon.

United States

Everything looks rosy when stocks keep going up: With a new round of stimulus and the Fed in the market’s corner that could continue for a while. She doesn’t think Fed policy has made markets unstable, nor does she anticipate any changes in monetary policy from the market turbulence. Strong data plays to optimism that the US economy will come roaring back this year as more and more people get vaccinated. If you take the US stock market cap of $48.7 trillion and the estimated GDP of $21.7 trillion, we’re nearly 224% overvalued and 84% above the historical average.
On Friday the US Senate passed a budget resolution that allows for the passage of the fiscal stimulus package in the coming weeks without Republican support. The company is in talks to come to public markets to combine with a special-purpose acquisition company, The Wall Street Journal reported last month. There is no argument that fiscal stimulus (of any amount ever) makes it more difficult for the Fed to avoid both accelerating inflation and recession.
In the 12 months to December, the US budget deficit amounted to $3.3 trillion, versus a tad above $1 trillion last March. US Treasury yields have been on the rise for the last few weeks as the US economy continues to pick-up from its pandemic-induced low. If the Fed has prevented an acceleration of inflation, the success would not show up in Summers’ survey of what happens after inflation accelerates.


Rollover deal | Ghana and the U.K. have signed an interim trade agreement, one of the last bilateral deals hanging in the balance following Brexit. The Federal Reserve printed money to purchase about three quarters of the new bonds, and as EU governments boosted their debt, the European Central Bank did much the same. Allies in the European Union have their own strategic concerns yet still want an investment treaty with China to solidify economic links. Separately, the volume of goods going through British ports to the EU plunged by as much as 68% since Brexit, according to the U.K. Road Haulage Association.
Twenty-nine countries, plus the European Union, have net-zero pledges for either CO or all greenhouse gases, accounting for 14.5% of global emissions. Longest reigning major EU bank CEO has one of its worst records.