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



But today was the first time in my life I actually used a dollar bill as toilet paper. On Wednesday, the rupee had settled at 74.38 against the US dollar. Japan’s Nikkei edged up0.4%, while South Korea was flat.S&P 500 futures eased 0.2%, as did EURO STOXX 50futures.


Demand from jewellers and investors in gold bars and coins,however, was lower than during the first quarter, but still higher than during April-June 2020. Central banks buy moreCentral banks during April-June bought more gold than in any quarter for two years. They stockpiled huge amounts of gold, briefly driving prices above $2,000 an ounce, but stopped when economies returned to growth.


The decline in production and net imports, along with the rise in oil demand drove crude oil inventories down by nearly 4.1 million barrels. Total crude oil input, if we add up production to net imports, marked a decline of 0.8 million barrels per day. Global oil benchmark Brent crude futures advanced 0.35 per cent to $75 per barrel. Meanwhile, international oil benchmark Brent crude advanced 0.30 per cent to $74.09 per barrel. Crude oil consumption increased by 5.38 mbpd last week.
In the graph bellow we sum-up most important U.S crude oil market data based on the EIA report and our calculations. The U.S Energy Information Administration has released its Weekly Petroleum Status Report on Wednesday, where it shows some good news about the U.S oil market and consumption. The central bank left interest rates at 0%.Still, some worries on fuel demand remain with gasoline demand in the United States and Europe beginning to plateau. crude lost 4 cents to $72.35.

United States

The US Federal Reserve said the economic recovery is on track despite a rise in Covid-19 infections but did not set a timeline for tapering Fed asset purchase. Meanwhile, in another boost to the bulls, the US Fed has kept rates unchanged and reiterated that it is “nowhere near considering a rate hike”. Archegos rocked Wall Street in March when large, concentrated positions it held in a few stocks went sour. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
Equities on Wall Street ended on a mixed note in overnight sessions. A small price to pay to give Wall Street, the autoworkers, and Realtors another well-deserved bailout! These projections imply that the US will run deficits equal to 43.3% and 39.9% of expenditures in 2009 and 2010, respectively. You will be charged $ + tax (if applicable) for The Wall Street Journal.


Yi Huiman, the securities regulator’s chairman, was also present at the closed-door meeting in Beijing, they added.