Open: New York Session | Forex, Metals, Oil, Agriculture February 11, 2021

A member of the National Guard plays a trumpet during a flag rai


MARKET NEWS Gold edged lower as the dollar’s recovery from a two-week trough hit in the previous session and a softer U.S. inflation data dampened bullion’s appeal. At the interbank forex market, the domestic unit opened at 72.81 against the US dollar, registering a rise of just three paise over its previous close. But a flat US dollar and lower Treasury yields kept losses in check. While some of the rises is related to dollar weakness rather than high-expectations for UK GDP, the result will likely be similar.
The FTSE 100 is up just 10% over the past five years in dollar terms, versus 111% for the S&P 500. The European Commission was also revising forecasts lower this morning, cutting the expected growth in the euro area to 3.8% this year. He is also Chairman of SchiffGold, his precious metals dealer, Euro Pacific Asset Management, and Euro Pacific Bank, his brokerage firm for international clients. He is also … more Peter Schiff is the CEO and Chief Global Strategist of Euro Pacific Capital, an SEC-Registered Investment Adviser and a full service broker/dealer.
A financial professional for more than twenty years, he joined Euro Pacific in 1996 and served as its President until December 2010, when he became CEO. less (Length 00:56:45) Peter Schiff is the CEO and Chief Global Strategist of Euro Pacific Capital, an SEC-Registered Investment Adviser and a full service broker/dealer.


We focus a lot on the recent double bottom in gold stocks and the gold price. Prices of the yellow metal surged 25% in 2020 as investors sought the safety of gold after the COVID-19 pandemic hammered the global economy. The world’s second-biggest consumer of the gold imported around 62 tonnes of it in January, up from 36.5 tonnes a year ago, the source said. In tandem with a fall in global rates, gold prices in India fell today while silver also skidded. In global markets, gold prices eased 0.2% as weaker than expected US inflation data dented bullion’s appeal.
The coronavirus outbreak triggered a rush among investors to stockpile silver, which like gold is traditionally seen as a safe place to store money. After a weaker session overnight Gold is picking up off session lows of $1835 and attempting to head back over the flat line. (Length 00:14:54) Jordan Roy-Byrne joins Cory Fleck to share his technical analysis on gold, silver, and copper.
February has a history of marking reversal in the gold market and this time around should be a low. Gold prices are trading up by 0.3% at Rs 47,851 per 10 grams.


MARKETS TODAY OIL: Oil prices fell, paring recent gains, as renewed lockdowns and emergence of new coronavirus variants weighed on the prospects for a swift demand recovery. Crude inventories fell by 6.6 million barrels in the week to Feb. 5 to 469 million barrels, compared with expectations in a Reuters poll for a 985,000-barrel rise. I have worked in the areas of oil refining, natural gas production, synthetic fuels, ethanol production, butanol production, and various biomass to energy projects.
Malaysian palm oil futures fell 2% and snapped a five-day rally, tracking U.S. soyoil, as traders booked profits ahead of the Lunar New Year holiday. I have over 20 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries, and hold several patents related to my work. For much of this week the crude market has seen prices well supported and continuing the upward trend started at the beginning of this month.
Shell s Falling Oil Output Ends Century-Long Business Model The company laid out a detailed plan for its transition to cleaner energy.
OPEC’s latest oil market report is also due. It added that “the prospect of tighter markets ahead” has been responsible for a rally in oil prices in recent weeks. “With demand forecast to rise strongly and still modest growth in non-OPEC supply expected, a rapid stock draw is anticipated during the second half of the year.”

United States

US stock futures are trading higher today, indicating a positive opening for Wall Street. Green Daily In climate news today… Trump s environmental policies killed thousands, scientists say. While the tone may be more respectful, the underlying tensions remain and Biden looks unlikely to roll back any Trump-era policies regarding Beijing anytime soon. The impeachment managers, who will wrap up their case tomorrow, depicted the assault as the intended result of a multitude of actions calculated to incite Trump s followers.
Senate panels are planning to skip formal hearing and votes on the issue as the chamber’s time is taken up by the impeachment trial of former President Donald Trump. For example, Baby Boomers in the US grew up in an environment of enormous economic growth in one of the world’s wealthiest countries. London’s leadership as a fintech startup hub, however, hasn’t fed through to its public stock market. Fed Chair Jerome Powell gave a speech today on the labor force and jobs.
A broad sense of anger was channeled variously against Wall Street, “suits,” boomers, short-sellers, and a sundry list of other participants deemed to be bad actors. The Capital Spectator has been quoted by a range of news organizations, including The Wall Street Journal, Reuters and others.


Why It s So Hard for the Solar Industry to Quit Xinjiang Nearly half the global supply for the raw material used to make solar panels is produced there.


As Helene Fouquet and Natalia Drozdiak report, the EU is considering ways to reduce its dependence on the U.S. and Asia and bolster its strategic autonomy in key technologies. Yesterday, Merkel shed light on plans for reopening, with a potential larger reopening from the 7th of March. EU rebuffs U.K.’s call to reset their post-Brexit relationship. The EU also cites the limits on travel as a reason for their reduced projections.