Open: London Session | Forex, Metals, Oil, Agriculture January 20, 2021



What was most remarkable about it, in context, was the lack of a market reaction.The two key passages concerned fiscal policy and the dollar. A steadily declining dollar makes life easier for many people, all over the world. The value of the U.S. dollar and other currencies should be determined by markets.


From the final week of October last year, aluminium futures has been on a rally. Welspun Specialty Solutions Ltd (Erstwhile RMG Alloy Steel Ltd) has received reimbursement of power subsidy for previous years of R 9.09 crore from the Gujarat government.


US crude futures inched up 0.3% to $53.15 a barrel while international benchmark Brent futures rose 0.3% to$56.09 per barrel.

United States

Trump stands out as the only president to inherit an already expensive stock market and leave with multiples even higher. No other first-term president has overseen a market where investors were so optimistic (although Clinton did so in his second term):Does this suggest that Trump has done something special? In fact, given the market he inherited, it wouldn t have reflected badly on Trump if it had done far worse, or even fallen over the last four years.
All that said, investors anticipate a strengthening economy thanks to the vaccines, stimulus, the Fed, and inventory rebuilding and with it rising profits. One of the main reasons for thinking that Trump was unwise to judge himself in this way was that he was bequeathed such a market. The Fed is trying to clean up the mess, and it looks like they’ll finally get some help from the new Biden administration, which has an ambitious stimulus plan. Trump had the handicap of inheriting high earnings multiples, but he also had the benefit of low interest rates.
In practice, if the incredibly low yields of the Trump years can be attributed to anyone, it is to the Federal Reserve, which sets monetary policy. Coming Up Outgoing U.S. President Donald Trump granted clemency to dozens of people on Tuesday, including his former strategist Steve Bannon. Neither Trump nor President George H. W. Bush deserved much blame for these events.Are there any lessons for investors, or for Joe Biden?