Open: London Session | Forex, Metals, Oil, Agriculture June 11, 2021



In the euro area, inflation climbed to 2% in May, technically above the ECB s target.


International oil benchmark Brent crude was trading 0.55 per cent lower at USD 72.12 per barrel. “Overall, the recovery in global economic growth, and hence oil demand, are expected to gain momentum in the second half,”OPEC said in its monthly report. In addition, a few more factors are also positive for the rate path: Oil prices are higher than Norges Bank expected. The NOK (I-44) is broadly in line with Norges Bank’s view but weaker than oil prices suggest, telling that the risk premia on the NOK is somewhat higher.
It had only been higher during the oil spike of 2008:This may well be transitory, but it s certainly rather alarming. We saw gasoline and distillate stockpiles really surge.

United States

“But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. In other words, real yields are by far their lowest since the Fed under Paul Volcker convinced the market that it could control inflation in the early 1980s. “(But) once the demand from the US is back to normal then I think the Chinese economy is going to feel more pain from the credit tightening. But it has to be right both that the Fed stays as easy as it as at present, and that inflation remains under control.
We visit the land where Donald Trump still rules, search for Capitol rioters and watch the self-harm done by China s domineering diplomats. Axcelis Technologies (Nasdaq: ACLS) Axcelis Technologies stock is up more than 15% over the last four weeks and up close to 44% this year. The surge in mortgages has been fueled by the Fed keeping borrowing costs near zero. Cambium Networks (Nasdaq: CMBM) The Cambium stock price has more than doubled this year.
“The US stockpile data didn’t paint a good picture. Florida s Trump coast.


The G-7 want to stand up for democratic values while trying not to antagonize Beijing too much.


ECB President Christine Lagarde said the bank remains sanguine on inflation, though some members are said to have raised the prospect of upside risks. They are also urging the EU to delay moves to sustainable aviation fuel, or SAF.Rental Car Cost | This summer in Europe, rental cars are blowing the travel budget. The visit comes as the U.S. and EU will announce a partnership next week to boost chip supply. Advocate General Michal Bobek, adviser to the EU s top court, backed a 2018 decision saying EU rules were too lax to fight pollution.
Prime Minister Boris Johnson is poised to delay the final lifting of virus restrictions in the country, due to happen on June 21. Holding the Line | French President Emmanuel Macron joined the ranks of EU officials stressing that there will be no change to the Northern Ireland protocol.