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



The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03 per cent to 89.85. Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. The rupee had closed 20 paise lower at 73.31 a dollar on Thursday.


Silver fell 0.58 per cent to $27.14.Bitcoin hit a record high that breached the$40,000 mark, and was last up 5.24 per cent at $38,781.90. Spot gold was about 0.1 per cent lower at $1,910.87 per ounce.


Global crude oil benchmark Brent was trading higher by 0.17 per cent at $54.61 per barrel. It touched $54.90 on Thursday, the highest since February.US West Texas Intermediate (WTI) also gained 2 cents to $50.85 a barrel. US West Texas Intermediate (WTI) rose 0.45 per cent to $51.06.

United States

The largest government debt refinancing will be in the US, with $7.7 trillion of debt coming due, followed by Japan with $2.9 trillion. Steps to oust Trump early, key economic data due, and some good news about the new virus strains. Either way, the Nation navigates the next 12 days carefully; with few willing to take any order from Trump, unless perhaps it’s validated by Pence as well. less There are two things that “everyone knows” about the US middle class: it’s shrinking in size and the government isn’t helping.
For McClellan, a spike in volume on Nasdaq shares relative to those on the New York Stock Exchange is reminiscent of similar extremes seen during the dot-com bubble. ‘You’re fired’ is the tidal wave of calls for President Trump to go; whether by resignation, or by imposition (intervention?) The St. Louis Fed description contains this lie: “M1 includes funds that are readily accessible for spending.” They included leading Democrats’ calls for Vice President Mike Pence to oust Trump by invoking the 25th amendment of the U.S. Constitution.
The St. Louis Fed M1 Description also includes Traveler’s checks, but the amount is tiny. The St. Louis Fed does not have data on #2 exactly as stated above.