Open: London Session | Forex, Metals, Oil, Agriculture February 03, 2021



Dollar indexThe dollar index invalidated the critical resistance at 91.00, which has turned the short term trend bullish. Trade strategy While strong inflows are helping the rupee remain steady, the dollar index is clearly indicating that the greenback has turned bullish. less The rupee (INR) witnessed a marginal gain in the past session as it ended at 72.96 versus Monday’s close of 73.02 versus the dollar (USD). But notably, the rupee is steady despite the dollar making some considerable gains in the past few trading sessions.
In a brief statement late Tuesday, Alibaba said it planned to issue dollar debt, including some bonds to fund sustainability-related projects, subject to market conditions. But if the dollar gains become so significant that the rupee weakens from here, it can find support at 73.15 and 73.25. So, the dollar index can be expected to rally from here towards 91.50 and 92.00. Every dollar the price rises inflicts losses on short sellers.
Markets like the move, with the euro rising last night on the news.


Price of gold in 2020 (year high): $2070 per ounce. As serial currency-diluters, central bankers know that gold will continue rising higher and higher in price over the long term. Even in the absence of a formal gold standard, it is regarded by central banks themselves as a superior monetary asset to their own fiat currencies. “Central banks stand ready to lease gold in increasing quantities if the price rises.” Imagine you’re a central banker. If gold is an asset class guaranteed to rise over the longer term, why do we see so much “volatility” with the price?
Price of gold in 1971: $35 per ounce. Price of gold in 2000: $275 per ounce. Investors know that the price of gold will rise dramatically over the long term. Gold rises in price versus these paper currencies because its supply is (relatively) stable. More specifically, why do we frequently see sharp, irrational drops in the price of gold?


Brent crude futures, the global oil benchmark, rose 0.45 per cent to USD 57.72 per barrel. Oil prices also extended gains having closed at the highest level in more than a year, boosted by declines on U.S. and Chinese stockpiles.

United States

“Wall street bets is hitting the point of diminishing value,”Innes said. The message was sent on Wednesday morning Hong Kong time and was seen by The Wall Street Journal.


“Beating Cancer | As debate continues to rage about the effectiveness of its healthcare policies amid the pandemic, the EU today presents its latest plan for beating cancer. Some of these cases have ended up in the EU’s top court, which has already sided with the Commission against France and Italy. Future Ministers | The future is getting its very own EU ministers. EU leaders will surely be just as happy. In EU parlance, it’s called “Strategic Foresight.