Close: London Session | Forex, Metals, Oil, Agriculture February 15, 2021



The S&P 500 exploded higher at this week’s opening on the back of a lower dollar and a bullish close last Friday. Given the U.S. dollar’s pivotal place in the global financial system, foreign-exchange volatility is really volatility in the greenback. The theme so far in February was a lower dollar and higher equities – will it continue this week too? That means the obvious source of risk to low currency volatility is a stronger dollar. It was the move in oil that triggered a new leg lower on the dollar and higher on the stock indices.
As people begin to feel safe, you’ll see economic activity pick up very fast.” A weaker dollar is another tailwind, advise strategists at Goldman Sachs. However, one should not disregard the power of buying the dip as the US dollar bounced back from last March’s low. Meanwhile, no fresh updates on the likely US $1.9 trillion fiscal stimulus and broad-based US dollar weakness fail to offer any support to the gold bulls.
The weak U.S. dollar remains the dominant theme, and investors have no alternatives but to bid for equities despite high valuations. The risk on market mood undermines the safe haven US Dollar.


Maintaining a target allocation for gold is a minority activity among central banks, though somewhat higher among gold holders. The “diversification benefits” of gold is therefore the most relevant factor for central banks in determining their institution’s gold holdings. Central Banking’s Gold for Central Banking 2020 survey questionnaire was distributed in August 2020 and received responses from 26 central banks around the world. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions.
Here is the classification and geography of the banks surveyed: What Are The Most Relevant Issues In Determining Gold Safekeeping For Central Banks? less Platinum prices advanced nearly 2% on Monday to hit fresh six-year highs, whereas gold prices traded flat within a bearish-biased trend. The group included six central banks with no gold reserves. In the worst-case scenario, central banks are expecting stagnant reserves rather than gold sales.
Platinum has largely outperformed gold since November 2020, as reflation hopes and a projected recovery in global auto sales brightened the demand outlook for the white metal. All but one of these eight central banks were gold holders.


Bill decided to sell all of his direct holdings in oil and gas companies in 2019, a Gates family spokesperson said in response to questions about the divestment process. In fact, the lira follows its EM peers always against the backdrop of the solid improvement in the risk complex and higher oil prices. Some analysts think investors have pushed oil prices above levels justified by supply and demand, but others expect them to remain buoyant. Upbeat market mood supported by vaccine optimism, US stimulus hopes and rising oil prices.
Surging demand for natural gas, which is burned to produce electricity and heat homes, prompted prices to shoot higher in several regional trading hubs. If oil prices hold their ground, as we expect, we should at least get to 10.10 in the near term. The power outages could prompt production pauses in the Permian Basin, leading to a moderate decline in oil output this month, according to Rystad Energy, a consulting firm.
Stock markets held their ground while oil prices shot up further to $63/bl. The company targets customers within the oil and gas industry and distributes products from manufacturers like, Acer, Apple, HP, IBM, Lenovo, Asus, Gateway.
With oil prices currently at $63/barrel, EURNOK should trade below 10.10.

United States

US stock futures are trading higher today indicating a positive opening for Wall Street indices, with Dow Futures trading up by 162 points (up 0.5%). For the Fed, “confidence” is the key to economic growth, given the economy is roughly 70% comprised of personal consumption. The Nasdaq didn’t close at a new all-time high, but it did enough to pressure the early week high with technicals all net bullish. Since leaving Wall Street I’ve dedicated my financial career towards studying this situation and helping people understand what’s actually happening.
The Chairman of the Federal Reserve said that the US job market was a long way off from a full recovery. Photo: Farrah Skeiky for the Wall Street Journal Mr. Vergara, a 25-year-old security guard in Virginia, started investing four years ago after deciding he wanted to retire young. “It’s like reading ‘Florida Man’ news headlines with a Wall Street twist,” he said. This index is based on a survey of consumers about their level confidence in the US economy.
However, today is President’s Day in the US, so high volatility should not likely be expected during the North American session. Mr. Kotok’s articles and financial market commentaries have appeared in The New York Times, The Wall Street Journal, Barron’s, and other publications.


Investors seem to be unfazed by Beijing’s hefty tariffs and the fact that the country represents nearly 40% of Australia’s goods exports.


French President Emmanuel Macron is holding talks today and tomorrow with African leaders on issues including their joint fight against Islamist militants in the Sahel region.