Open: London Session | Forex, Metals, Oil, Agriculture January 14, 2021

Currencies

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose marginally by 0.04 per cent to 90.39. Consistent foreign inflows have kept the rupee steady against the dollar.Dollar indexBouncing off the support at 90, the dollar index appreciated the last session and ended at 90.36. At the interbank forex market, the domestic unit opened at 73.18 against the US dollar, registering a fall of 3 paise over its previous close.
The euro, the sterling and the Japanese yen were flat against the US dollar this morning in Asian trade. German GDP will be the focus for economic data, with the country in better shape than most of the euro-area.

Metals

Silver fell 1.38 per cent to $25.22.

Oil

Vaccine roll-out variables cloud the crude oil market outlook.

United States

On Wall Street, the Dow Jones Industrial Average fell 0.03 per cent, the S&P 500 gained 0.23 per cent, and the Nasdaq Composite added 0.43 per cent. Traders said investors remained cautious and await the US stimulus details as President-elect Joe Biden will outline his massive fiscal stimulus plan. President Trump is impeached for the second time, Italy’s government is in turmoil and Covid-19 is overwhelming health services again. “However, development around the possible impeachment of President Donald Trump is unlikely to have any meaningful impact on markets.
Market participants are also looking for cues from the speech from Fed Chief Jerome Powell tonight. Further, remarks by Fed’s Brainard about the continuity of the broad-based bond-buying program for quite sometimes offered comfort to equities,” he added.

Europe

Gig economy workers could also see improved working conditions following measures due to be outlined in an EU paper in February. OverwhelmedPrime Minister Boris Johnson warned the U.K.’s hospitals could be overwhelmed as the country registered its highest daily death toll since the start of the Covid-19 pandemic. The ECB chief also took aim at Bitcoin s role in facilitating criminal activity, saying the cryptocurrency has been enabling funny business. Today, our primer on industry and tech.The EU may once again be two steps ahead of the U.S. when it comes to regulating tech giants.
10 a.m. Members on the European Parliament’s Foreign Affairs and International Trade Committees will debate the EU-U.K. Trade and Cooperation AgreementLike the Brussels Edition?Don t keep it to yourself.

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