Open: London Session | Forex, Metals, Oil, Agriculture February 18, 2021



The dollar index was little changed at 90.89 early Thursday in Asia after strengthening 0.2% overnight and 0.4% on Tuesday. On the other hand, the dollar index faces a hurdle, raising doubts over the continuation of yesterday’s rally. However, like many analysts, Westpac’s team expects the dollar to decline this year, weighed by the Fed’s relentless money printing. Westpac recommends fresh dollar index shorts on rallies toward 91.0. The euro was little changed at $1.2046 after sliding 0.5% overnight, the most in two weeks.


The 30-year US yield also dropped.Spot gold edged 0.2 per cent lower to $1,815.80 per ounce pressured by higher benchmark US Treasury yields. US gold futures fell 0.4 per cent to $1,815.70 per ounce.


The S&P 500 tech index ended 1% lower.Conversely, energy rose 1.5% to lead gains among S&P500 sectors as a halt in Texas oil production boosted crude prices. This series excludes Motor Vehicles & Parts, Gasoline, Building Materials as well as Food Services & Drinking Places.

United States

Along with Wall Street competitors, its investment bank booked bumper fees from clients trading in last year’s gyrating markets and from companies raising capital or needing deal advice. Verizon shares climbed 5.2%, and Chevron shares advanced 3%.Technology shares led losses on the S&P 500 and Nasdaq. The Fed has pledged to pin interest rates near zero until inflation rises to 2% and looks set to exceed that goal. In the past, some companies with negative earnings, which later went positive, have gone on to be darlings of Wall Street.
Some companies that currently have negative earnings have been the hottest on Wall Street. It was a tumultuous year for Switzerland’s second-largest bank by assets, after rival UBS Group AG .


This threatens to hamper the EU’s already-lagging inoculation drive, which relies upon 300 million doses from the U.K. pharma giant, among others.