Open: London Session | Forex, Metals, Oil, Agriculture February 04, 2021



Thus, the dollar looks to strengthen from here and so, the dollar index can touch 91.50 and possibly move towards 92.00 in the short term. For the Indian currency, strong dollar is being countered by significant foreign inflows and so, the likelihood of it staying flat or tracing a rectangular pattern is high. The jawboning has helped push the euro down about 1.5% against the dollar already this year. The challenge is daunting, with the euro area s third-largest economy facing an explosive combination of rising debt, stagnant growth and simmering hostility toward elites.
This is the reason it is able to stay steady even as the dollar has been gaining over the past week. less The rupee (INR) traded in a lethargic fashion on Wednesday and the result was a flat close at 72.96 against the dollar (USD). Price Pressures | One measure of inflation in the euro area rose to 1.4% in January the highest level in five years. Debut album from the womb.And finally, here’s what Cormac Mullen is interested in this morningThe currency cold war is mobilizing the euro bears.
Markets welcomed his appointment, with the euro, Italian bonds and the country’s stock market all buoyed by the news. Euro’s waning mojo.


less ASX 200 [XJO] | Technical Analysis | Elliott Wave Day Trading Plus AUD/USD, Copper, Iron Ore, CBA, and BHP.


Oil prices extended gains, however, after OPEC and its allies pledged to keep rapidly clearing the surplus of crude created by the pandemic’s impact on demand.


Boris Johnson had threatened to suspend parts of the Northern Ireland Protocol due to the disruption it is causing to trade across the Irish Sea. Switzerland has delayed approval for AstraZeneca’s vaccine, saying it wants more data on its efficacy and taking a more cautious view than the European Union. Get the pandemic under control and spend Italy s windfall from the EU wisely. But now, in the post-Brexit world, Europe is eager to develop its own financial center.