Open: London Session | Forex, Metals, Oil, Agriculture February 24, 2021



The tomato farmer uses the ten-dollar bill to buy potatoes from Bob, who uses it to buy sugar from Tom. The stock of Dhampur Sugar Mills surged 7 per cent accompanied by extraordinary volume breaking out of a flag pattern upper trend-line at ₹170.


Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 per cent to 90.10 amid improved risk appetite in the markets. The Japanese yen weakened 0.20 per cent versus the greenback at 105.25 per dollar.US gold futures settled down 0.1 per cent at $1,805.90 an ounce. Meanwhile, the global oil benchmark Brent crude was trading 0.56 per cent lower at US dollar 64.12 per barrel. The dollar index against a basket of six major currencies fell to 90.025.
The dollar managed to rise to 105.40 Japanese yen and hit an almost three-month high against the Swiss franc, but overall sentiment was still negative on thegreenback. The Australian dollar, which tends to benefit from rising metal and energy prices, jumped to a three-year high of $0.7945. Against the euro, the dollar traded at $1.2158, close to a six-week low. “Risk appetite has improved a lot, and this leaves the dollar at a big disadvantage.”
The New Zealand dollar edged up to $0.7367, close to a three-year high. For example, in a year a particular ten-dollar bill might be used as follows: a baker, John, pays ten dollars to a tomato farmer, George.


The Volcker Standard replaced the old trust in gold until everything got out of hand in the bull market of the late 1990s. That would imply continuing rising equity prices relative to gold.


Brent crude futures, the global oil benchmark, slipped 0.40 per cent to $65.11 per barrel. “The key question is how quickly does US oil supply recover.

United States

Mr. Kotok’s articles and financial market commentaries have appeared in The New York Times, The Wall Street Journal, Barron’s, and other publications. Forex traders said the Fed Chairman Jerome Powell’s dovish statement on the US economy also boosted investor sentiment. That would change the investment regime and eventually force a change of Fed policy. US equities witnessed a sharp reversal from initial losses and finished mostly higher as Fed Chairman Jerome Powell continued to sound dovish in his testimony.
A stock rotation was soothed by the Fed, reopening plans continue to spark optimism and Bitcoin is bouncing back. There followed the Greenspan Put, when the Fed appeared to cut rates whenever asset prices fell. Then in the early 1980s Paul Volcker persuaded everyone that the Fed would limit inflation. The establishment of the Fed and the First World War came immediately before the great explosion:What other things changed at that point?
He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.


German Chancellor Angela Merkel urged caution in reopening schools and businesses, though the European Union is speeding up its vaccine program after stumbling out of the gates. The EU may in fact vaccinate 75% of adult citizens by the end of August, more than a month earlier than previously forecast, according to the latest research. The EU s top court gives non-binding opinion in a challenge by the European Commission to Hungary s asylum policies 1:45 p.m.