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



The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.03 per cent at 90.23.


Brent crude fell to $67.83 per barrel.Gold was slightly lower. Gold was slightly lower.


Meanwhile, international oil benchmark Brent crude was trading 0.73 per cent lower at $67.82 per barrel. Brent crude futures, the global oil benchmark, were down by 0.67 per cent to $67.86 per barrel.

United States

The Dow Jones Industrial Average slipped marginally, while S&P 500 and Nasdaq crashed over 1 per cent and 2 per cent respectively. Tracking the US markets, the Japan’s Nikkei is down 2.5 per cent in early trade on Tuesday. “US indices, especially S&P 500 and Nasdaq, fell sharply mainly on account of heavy selling pressure in high profile technology and growth stocks. Wall Street retreated, prompting investors to cut exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
As the Nasdaq 100 — trading at more than 5 times annual revenue — dropped more than 2.5%, volatility in tech stocks jumped by the most since early March. By early afternoon Hong Kong time, Nasdaq 100 futures stood 1.0% lower, while S&P 500 futures declined 0.5%. That was visible most spectacularly in the Nasdaq Composite index, which dropped 2.55% for its worst day since March. I noted that populist president Donald Trump—despite adopting a number of economically intelligent policies—was completely unwilling to rein in federal spending.
Unlike some Republican leaders in previous years, Trump perceived that Democrats’ big-spending agenda was unstoppable.


The vaccine would offer another mRNA-based option next to Moderna and Pfizer-BioNTech s shots, and the EU has concluded exploratory talks for 200 million doses. Here s a peek at some of the steps the EU is planning to clean up economic activity over the coming decade.