– US indices plunged yesterday with downward momentum increasing after the first Omicron case was reported in the United States. We can see that S&P 500 dropped 1.18%, Dow Jones moved 1.34% lower and Nasdaq dropped 1.83%. Russell 2000 moved 2.34% lower
– Moods have once again improved during the Asian session with US and European index futures erasing part of losses. Stocks in Asia traded mixed – Nikkei and S&P/ASX 200 dropped, Kospi advanced and indices from China traded little changed
– Turkish lira continues to trade near record lows against the USD and EUR after Turkish President Erdogan fired Finance Minister
– Fed Mester said that accelerating pace of tapering will allow for earlier rate hikes
– French and US authorities said that some of recent travel bans may be lifted soon. Also Japan lifted restrictions on Japanese citizens returning to country from high-risk virus areas
– RBNZ Chief Economist Yuong Ha said that Omicron is unlikely to change outlook for RBNZ monetary policy
– What about cryptocurrency, Bitcoin took a hit overnight and reached a daily low near $55,700. However, the coin has climbed back above $56,000 since
– CAD and GBP are the best performing major currencies while JPY, CHF and USD lag the most
– Commodities: Oil trades higher along with precious metals as silver, platinum and palladium. Meanwhile, gold and industrial metals pull back lower.
-Economic calendar for the day ahead is light with a lack of top-tier releases scheduled. However, it should be remembered that OPEC+ is set to meet today to decide on output (around 1:00 pm GMT). There are no hints on what the cartel could do (representatives remained silent after yesterday’s OPEC meeting) therefore there is a big chance for volatile moves on the oil market in the early afternoon.
Nasdaq-100 (US100) as well as other Wall Street indices took a hit yesterday in the afternoon after the first US case of Omicron was reported. Tech index finished cash trading below 16,000 pts mark for the first time since November 10, 2021.
For more informations and news join our official social networks! Please click on the icons below to subscribe.