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

It gained almost 9 per cent over 2020.The dollar slipped to 103.02 yen, and looked in danger of testing key support at 102.55. Net short non-commercial positions in futures linked to the ICE U.S. Dollar Index have surged to the most since March 2011, according to recent Commodity Futures Trading Commission data. Proponents of Bitcoin argue that it s muscling in on gold as a hedge against U.S. dollar weakness and inflation risk, citing evidence of growing interest among institutional investors.
Cruise ship suicides.And finally, here’s what Cormac Mullen is interested in this morningArguably the two most consensus calls for 2021 are for a weaker dollar and higher bond yields.

It’s their first meeting since the bloc agreed to meet on a monthly basis, rather than bi-annually, to better manage the volatile crude oil market. A rally while oil prices are low suggests genuine optimism about the industry. Generally, solar stocks need higher oil, as this sharpens the incentives to find an alternative.

An executive order signed by President Trump in November will block on Jan. 11 Americans from investing in companies the U.S. government says help the Chinese military. Those claims have been stoked by President Donald Trump but repeatedly dismissed in court, including by Trump-appointed judges. The Nasdaq finished near its highs but did edge a ‘sell’ trigger in the MACD.

As far as the foreign-exchange market was concerned, Brexit was a one-off self-inflicted wound, whose damage could be assessed in 2016. Brexit per se should no longer be a significant issue, and British assets appear to have been adequately repriced. The U.K. is now an independent country, with a new skinny trade deal with the EU. But it was obvious that a majority of my compatriots were never comfortable with the EU. But for now, Covid19 (and the consequences of Brexit for those in the UK), is all we have to work with.
BrexitBritain and the European Union finally did it.