Close: London Session | Forex, Metals, Oil, Agriculture January 21, 2021



Return of warm and mild weather across Europe together with a forecast of temperatures turning milder across most of northeast Asia weighed on price this week. Due to unseasonably warm and mild weather, the gas fundamentals were weaker both in the UK and NWE this week.


Note that gold prices have seen wild swings this year amid higher US bond yields, strengthening dollar, and US stimulus announcement. BEFORE THE BELL U.S. stock futures rose, and the dollar fell as investors placed bets on a major stimulus from the U.S. President Joe Biden. The technical picture has become much more bullish, as riskier currencies such as the Pound have all strengthened against a weaker U.S. Dollar over the previous day. The single currency slipped 81 pips against the dollar to 1.2077, coming under pressure due to the tightening of lockdowns in Europe alongside the identification of new virus mutations.
Momentum and price-based indicators were also bearish.Oil slumped for the second day, as the outlook of weakened demand offset a lower dollar. Wall Street futures rose and the U.S. dollar fell, as investors bet on $1.9 trillion fiscal-stimulus plan from new U.S. President Joe Biden. The US dollar is lower against nearly all the major and emerging market currencies today.
Many investors and experts predicted a surge in renewable stocks and a collapse in the US dollar and large American corporations and none of it happened as expected. The focus was to see what priorities the new Biden’s administration and the possible implications for the U.S. dollar and the fixed-income market. Chile Sells Biggest Latin American Sovereign Sustainability Bond Chile raised a total of about $4.25 billion in euro and U.S. dollar markets.


Viewed as one of the least volatile commodities, gold prices during that time were surprisingly tepid in comparison to the current, highly volatile moves from Bitcoin. In global markets, gold prices dipped today on profit-taking after the sharp jump in the previous session. In Indian markets, gold prices rose in early trade extending the sharp gains of the previous session. On MCX, February gold futures were up 0.3% to Rs 49,674 per 10 grams in its fourth straight day of gains.
Gold is viewed as a more secure investment with a long history of use and is widely accepted by all types of market participants. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall. >> Fabrice Drouin Ristori on Twitter is an independent investment analyst and studies the gold and silver market and their future role in the international monetary system. Recent changes in sentiment warn that the current Gold price trend may soon reverse higher despite the fact traders remain net-long.
WTI crude futures are down by 0.41% to $53.09, while gold futures are trading higher by 0.16% at $1,869.50. 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.


BEFORE THE BELL Futures for Canada’s main stock index were little changed, as oil prices slipped after industry data showed a surprise increase in U.S. crude inventories. I have worked in the areas of oil refining, natural gas production, synthetic fuels, ethanol production, butanol production, and various biomass to energy projects. On average, 2,638 barrels per day of oil were stolen last year, up from 1,806 bpd in 2019, the spokesman said. She said that a major part of the Biden administration’s climate strategy is to avoid building new long-lasting oil and gas projects such as the Keystone XL pipeline.
I have over 20 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries, and hold several patents related to my work. In October, the kingdom exported 6.16 million bpd of crude oil. Crude oil has firmed up on hopes that vaccinations will allow a return to our former lives by summer. Oil DailyTechnically, the price fell from the resistance of Wednesday’s shooting star, which confirmed last Thursday’s Bearish Engulfing pattern.
The firm had a great track record investing in metals and oil stocks, proudly boasting many “10-baggers.” They focused on high risk, extraordinary return investments and attracted like-minded investors.
Oil prices are softer but at the upper end of their recent ranges.

United States

Mr. Biden signed 15 executive orders and two executive actions on his first day in office, reversing some of former President Trump’s key policies. Futures on the Dow, S&P and NASDAQ headed slightly higher in trading on Thursday after a Biden inaugural bounce saw US markets post a second day of records. Wall Street greeted new US President Joe Biden by climbing even higher on Wednesday, closing at record highs amid promises of big economic stimulus and relief aid.
The Trump presidency saw a surge in stocks, an all-time low yield in US debt and record levels of employment, rising real wages and strong growth before the pandemic. In early trade today, Indian share markets rose in sync with Asian peers and tracking overnight gains in the US market. less Yesterday marked a historical milestone in the international stage – four years of Trump policies end with the lowest ever support for a leaving President. That policy means that the US had better brace for a new era of higher energy prices.
Nasdaq Futures are trading up by 56 points (up 0.4%), while Dow Futures are trading up by 10 points (up 0.03%). The new Commander-in-Chief has been busy signing Executive Orders, such as readmitting the US to the Paris climate agreement and undoing additional policies by Donald Trump, his predecessor. Which is why I believe the Biden administration is going to make the already debt-crazed Trump administration look like amateurs when it comes to money printing.


They may have inferred that Mr. Ma is now back in Beijing’s good graces and the regulatory storm will be over. Ten days later, Beijing abruptly canceled Ant Group’s $37BN Shanghai Stock Market debut.


The market expects no change from ECB vis a vis monetary policy but will be keen to hear what Ms. Legarde will say regarding the exchange rate. Germany s virus fatalities passed 50,000 today, underscoring the urgency facing Chancellor Angela Merkel s government to slow the spread of the disease. The ECB is in action this afternoon, with the markets expecting the press conference to be the key driver for the currency pair. Just like Christine Lagarde, the head of the European Central Bank (ECB), did a week earlier, Janet Yellen expressed her concerns that cryptocurrencies are mainly used for money laundering.
German Chancellor Angela Merkel will hold a press conference later with the death toll passing 50,000. The early morning focus however will be in FX as the ECB conducts its month rate announcement and presser. In Europe, the Stoxx 600 Index had gained 0.5% by 5:50 a.m. as investors waited for the latest ECB decision. German Chancellor Angela Merkel said the restrictions will be extended until February 14.
In the ECB’s case, among the largest LSAP’s (or LTRO’s). Exports to China, the U.S. and the European Union all posted double-digit gains during the period.