Open: London Session | Forex, Metals, Oil, Agriculture March 09, 2021



Alternatively, the higher yields in the U.S. succeed in attracting flows that push the dollar up. The bloc s blessing for the 7.3 billion-euro deal would come after a rocky year for the world s largest supplier of eyewear. A higher dollar tends to damp inflation.


In a court filing on Monday, Greensill also said that its largest customer by value, Sanjeev Gupta s steel and aluminum empire GFG, has fallen into severe financial difficulty. In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought. Elsewhere, gold also slipped to a nine-month low on Monday.


Although the current risk premium will soon fade, the economic recovery, vaccination progress, and supply restrictions from oil nations point to even higher prices in the short term. That said, in the near term, fundamentals remain positive for oil prices, even if the temporary risk premium is likely to fade soon. We see oil prices moving a lot well above $ 70 a barrel into the summer, although we recognize that the cycle is well advanced. However, they expect volatility on the back of rising crude oil prices and, of late, slowing down foreign fund flows.
Oil nations take risks and exercise their power by slowing production and artificially inflating prices. News of an attack on Saudi Arabia’s key export facilities over the weekend added more fuel to an already restless oil price. Even a sharp jump in Brent crude oil price, which was above the $71 per barrel-mark concerned the market. So far, there are no reports of lasting damage or disruptions to oil flows.
So far, there are no reports of significant damage and disruptions to oil flows. At Julius Baer, ​​we recognize that the oil cycle looks well advanced.

United States

Some other recently-punished assets recovered overnight, with Nasdaq futures pointing higher following yesterday’s 3% correction amid a global rotation into value stocks. As can be seen, this was a bubble for the ages:Over the year to the Nasdaq s peak, the average stock went nowhere. At this level the Nasdaq-100, in behavioral terms, isn t a repeat of 1999-2000. Below 3% and we’ll fall short of the Fed’s target. It’s completely up to the Fed.


The EU s plans are ambitious and will need long-term commitment by the bloc long after current leaders, lawmakers and Commission officials have rotated out of their posts. The comments come ahead of a summit of EU leaders later this month, where a strategic discussion about the bloc s ties with Russia is expected. Green Outreach | Ensuring that countries worldwide step up emission cuts will be the main topic of talks today between U.S. climate envoy John Kerry and EU officials.