Open: London Session | Forex, Metals, Oil, Agriculture March 03, 2021



Dollar indexThe dollar index made an attempt to close above the resistance of 91.00 yesterday. The dollar index has been sluggish since today morning and since 91.00 holds strong, it might attract fresh sellers resulting in a fall. The dollar edged higher. German Reopening PlanGerman Chancellor Angela Merkel proposed a four-step lockdown easing strategy accompanied by widespread Covid-19 testing, amid political pressure to open up the euro area’s largest economy.


U.S. crude futures fell 1.5% on Tuesday to the lowest in more than a week, while its global counterpart Brent hit a two-week low. That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that s up for debate on Thursday. The group is the largest actor in the oil market, with collective production covering more than 40% of worldwide demand. It follow similar announcements in recent months from fellow oil majors Royal Dutch Shell Plc and Chevron Corp., which are also cutting positions in Singapore.
West Texas Intermediate gained 0.3% following the worst losing run since December as Brent also rose. Big Oil is shedding thousands of jobs globally. U.K. budget, German reopening plans, OPEC+ agreement likely.

United States

But it is also an argument, Kotok thinks, for the Fed to push forward with an exceptional policy, focused on reducing unemployment, in response to an exceptional event. It also does not show the results of a growth-penalizing Trump administration policy that limited US population growth by restricting immigration. Moreover, it s Lael Brainard, who was widely canvassed as a potential treasury secretary and is also considered a potential next chairwoman of the Fed.
We’re using the PCE to describe inflation since it is the Fed’s preferred inflation measure. We’re using the traditional unemployment rate (U-3) since the Fed refers to it in their forecasts. So this doesn t portend immediate action, though it does suggest that the Fed will act in the event of another leg upward. Mr. Kotok’s articles and financial market commentaries have appeared in The New York Times, The Wall Street Journal, Barron’s, and other publications. S&P 500 and Nasdaq 100 futures advanced after technology shares led overnight losses in the benchmarks.
That way you can see a year-by-year history for all Fed chairs since William McChesney Martin. If JPM is right, the US economy is about to explode: Tyler Durden (pseudonym) is the lead writer at ZeroHedge.


While the official decision isn t due for another two months, we’re told the EU’s executive arm will indicate today that fiscal prudence shouldn t be reintroduced until 2023. The dramatic global plunge was “the equivalent of removing all of the European Union’s emissions from the global total.”