Open: London Session | Forex, Metals, Oil, Agriculture July 23, 2021

TRADING-THE-LONDON-FOREX-OPEN

Currencies

“The guidance implies the ECB will not get caught up in future global tightening cycles unless it is justified by euro area dynamics. “Currency and commodityThat outlook has contributed to a steady decline in the euro to $1.1773, near the four-month trough of $1.1750 touched earlier in the week.

Metals

All eyes on Zomato listing, RIL, SBI Cards, JSW Steel results After a sharp recovery on Thursday, domestic markets are expected to open on a flat note. On the other hand, HCL Tech, UltraTech Cement, Tata Steel, Titan and Maruti were among the gainers.

Oil

Meanwhile, international oil benchmark Brent crude declined 0.33 per cent to USD 73.55 per barrel. “We continue to see oil prices tracking higher in H2 2021 a soil demand growth outpaces supply growth,” Commonwealth Bank commodities analyst Vivek Dhar said in a note. “With demand holding up, the market is starting to sense the400kb/d increase in OPEC (OPEC+) will not be enough to keep the market balanced.

United States

Overnight, the US major indices such as Dow Jones, S&P 500 and Nasdaq closed with a gain of about 0.1-0.3 per cent. Chairman Powell confidently reassured the world: The Fed changed their targeted 2% inflation policy to an “average” of 2%, providing no details of how it was to be calculated. We were reassured the historic low interest rates were Despite Powell’s bravado, the Fed has no intention of raising rates back to 5-6% – ever! Fed Chair Jerome Powell’s recent statement means the central bank is unlikely to change its monetary policy or increase interest rates soon.
$23.82 $16.00 – $24.30 7.62% 0.35% per year The (NASDAQ:KBWY) focuses on small- and mid-capitalization US real estate investment trusts (REITs) with competitive yields. Powell wants the world to believe the Fed is confidently controlling the helm, inflation is of no concern, and we should remain calm. Mr. Powell is talking out of both sides of his mouth trying to mislead the public, something the Fed has done since its inception.
The Fed was given trillions to bail out the banking system, saving them from economic collapse – due to their risk-taking. Fed Chairman Jerome Powell’s recent remarks really infuriated me. KBWY Weekly KBWY has 31 holdings and tracks the KBW NASDAQ Premium Yield Equity REIT Index.

Europe

“Currently the ECB is forecasting inflation at 1.4 per cent in 2023,and it anticipates a very gradual recovery towards target thereafter,” noted analysts at ANZ. The policy puts the ECB at the dovish end of the global central bank hawkometer.

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