Open: London Session | Forex, Metals, Oil, Agriculture January 29, 2021



The dollar index gained 0.2 per cent to 90.757 in the Asian day, bringing its weekly rise to 0.6 per cent. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.31 per cent to 90.73. The Japanese yen weakened 0.11 per cent versus the greenback at 104.23 per dollar.US long-dated Treasury yields rallied from three-week lows. The euro declined 0.2 per cent to $1.20955. But that was offset by the impact of a weaker dollar and big US crude inventory drawdown.Brent crude futures settled down 28 cents at $55.53a barrel.
“The US Dollar Index started higher this Friday morning in Asian trade. “The overall trend does reflect these supply issues around the US dollar,” said Michael McCarthy, chief strategist at CMC Markets in Sydney. The rupee appreciated by 7 paise to 72.98 against the US dollar in opening trade on Friday, tracking positive domestic equities. “The more medium-term question is what US fiscal policy will do to US interest rates, Fed policy, and therefore the US dollar,” he added.
“Wide expectations of that huge issuance that’s coming and the support of the Fed mean that we’re looking in the medium-term for further US dollar weakness.”


Gold sat at$1,842 an ounce and oil prices were steady, with brent crude futures last up 0.1 per cent at $55.60 a barrel.


Brent crude futures, the global oil benchmark, rose 0.02 per cent to $55.52 per barrel.

United States

The whole, huge financial system is built around Wall Street banks that prize themselves on their ability to price risk accurately and make money out of market dislocations. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Georgia On My MindThe Democrats can thank a massive grassroots effort and Donald Trump’s meddling for helping them win both of Georgia’s Senate seats this month.
The US government sold $62 billion in US seven-year Treasury notes in a well-bid auction. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.


Meanwhile, check out Hong Kong’s new pro-Beijing political party for clues into China’s future plans for the city.


No Relaxation | The U.K. government scrapped a review into workers rights after Brexit following criticism from opposition politicians and pressure from trade unions.