Open: London Session | Forex, Metals, Oil, Agriculture June 07, 2021



Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. With Europe being the main theme of my professional life, obviously something to say on the euro crisis. In 2008, I joined ING and immediately had to put my experience on Europe, the Euro and policy-making into practice.


Also watch results from polls in Mexico, for Spanish lenders exposed to the country, and from Peru, for the copper industry. Tata Steel Mining Limited is a wholly-owned subsidiary of Tata Steel.Hero MotoCorp has announced its reinvigorated strategy for the Nigeria market.


International oil benchmark Brent crude was trading 0.58 per cent lower at $71.47 per barrel.

United States

Since the US jobs numbers have come lower than expected the Fed is likely to continue its accommodative stance with no indications about tapering. However, Taiwan equities are down about 0.6 per cent.US stocks on Friday closed firmly with Nasdaq rising almost 1.5 per cent or 200 points. The Nasdaq Cybersecurity Index has slipped about 1% this year, underperforming the 7% rise in the broader tech-heavy benchmark. The Fed, and the Biden administration, don t want to be seen as ducking the challenge of dealing with chronic underemployment.
Neither Jerome Powell himself nor anyone else at the Fed will want to be accused of two pivots in one term. The market responded with a panicked selloff, and the Fed backed down. The Capital Spectator has been quoted by a range of news organizations, including The Wall Street Journal, Reuters and others. My best guess is that the Fed goes for it and risks inflation. His views have been quoted in Barron’s, the Wall Street Journal, on CNN and now on his own web site.


German Chancellor Angela Merkel s party saw off a far-right challenge in local elections in the country s poorest state. By now, I have built up excellent skills and experience in analyzing macroeconomic and political developments in Europe, the Eurozone and Germany, including ECB watching. Angela Merkel’s CDU scored a convincing win with some 36% of the vote, more than expected and more than in the last election in 2016. Main focus: Europe, Eurozone, Germany and ECB.