Open: London Session | Forex, Metals, Oil, Agriculture February 11, 2021



At the interbank forex market, the domestic unit opened at 72.81 against the US dollar, registering a rise of just three paise over its previous close. This tsunami of debt was unleashed in 1971 when Nixon ended the backing of the US dollar with gold. “The New Zealand dollar was broadly steady at$0.7205 on Thursday. “In other words, easy policy is going to stay there for along, long time, and that should be negative for the U.S.dollar,” said Westpac currency analyst Imre Speizer.


The biggest questions are, when and how high will gold and silver prices rise? This could lead to a promising future for the price of gold. Since 1971, US debt and gold price have increased greatly. Drinks maker Pernod Ricard and steel group ArcelorMittal are also reporting.


Analysts in a Reuters poll had forecast a 985,000-barrel increase.Vaccine stimulusBrent has risen for the previous nine sessions, its longest sustained period of gains since January 2019.

United States

Elsewhere, Donald Trump’s impeachment case continues after House Democrats showed new video of the storming of the U.S. Capitol. Overnight, the US markets closed on mixed tone with Dow ending in green while Nasdaq and S&P-500 dipping into the red, albeit only marginally. Fed Chair Jerome Powell gave a speech today on the labor force and jobs. The attempts at it never really ended, in the US these had been restarted in 2019 (not 2020).


That may encourage more countries to use the shots after some EU nations advised against giving it to the elderly, citing insufficient trial data. It s a little surprising the EU wish to change it quite so soon, said U.K. Brexit negotiator David Frost, who has recently spoken of a “bumpy” relationship. Despite better-than-expected growth at the end of 2020, lockdowns are probably costing the EU economy about 12 billion euros a week. The EU, meanwhile, is seeking to postpone the ratification of the post-divorce trade deal.
AstraZeneca boost, Brexit return, Uber’s sales fall.