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

TRADING-THE-LONDON-FOREX-OPEN

Currencies

It was last at $1.2034.The risk-sensitive Australian dollar eased from a one-week high to $0.7675.CommoditiesIn commodities, Brent crude and U.S. crude climbed 59cents each to $59.93 and $0.57.44 respectively.U.S. The onshore yuan edged up slightly to 6.4592 per dollar, but trade is likely to be subdued before week-long Chinese New Year holidays beginning Thursday. Any disappointing numbers from either report could knock the dollar lower, some analysts said.
The dollar was quoted at 105.49 yen, having pulled back from a three-month high reached on Friday. “Soft non-farm payrolls has really pulled the ladder outfrom under the dollar,” said Yukio Ishizuki, foreign exchangestrategist at Daiwa Securities. “Investors therefore favour risk taking, and so value the safety of the U.S. dollar less. The dollar index against a basket of six major currencies stood at 91.117, after falling 0.6% on Friday. Against the euro, the dollar traded at $1.2034after a 0.7% slump on Friday.
“Now the markets are questioning whether the dollar can rise any further. Across the Tasman Sea, the New Zealand dollar edged up to $0.7199.

Metals

* LME cash copper was at a $14.50-a-tonne premium over the three-month contract, the highest since September2020, indicating tight nearby supplies. gold futures were up 0.1% at $1,815.4 an ounce.

Oil

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market. West Texas Intermediate crude futures advanced54 cents, or 1%, to $57.39 a barrel, the highest since January last year. Oil edges up again after hitting a one-year high last week.

United States

Even though cannabis investors have experienced some ups and downs in the last several years, 2021 looks more hopeful. The Capital Spectator has been quoted by a range of news organizations, including The Wall Street Journal, Reuters and others. Post-Trump changes at U.S. border.

China

President Joe Biden was questioned on why he has not spoken to Chinese President Xi Jinping since entering the White House.

Europe

5 p.m. EU Parliament debate with ECB’s Lagarde Commission President von der Leyen briefs EU lawmakers from the Left political groupLike the Brussels Edition?Don t keep it to yourself.

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