Market Update

The EUR/GBP pair spiked towards 0.8500 on Friday as markets are being quacked by the latest Covid-19 variant developments.The pair benefitted from a moderation of global central bank rate hikes. EUR/GBP saw sharp upside on the final trading day of the week, surging from close to the 0.8400 level to …

On Friday, US Treasury yields experienced sharpest drop since the pandemic began as investors rushed toward safe haven assets following the emergence of a new coronavirus variant in South Africa.The two-year Treasury yield, which typically moves in step with interest rate expectations, was down 14.2 basis points at 0.502, the …

US shares dropped on Friday, with global markets rattled by a new coronavirus variant discovered in South Africa, which fanned concerns that new growth-crushing lockdowns could be imposed. Trading volumes were low due to the Thanksgiving holiday in the US, which contribute to the market’s volatility. Major benchmarks fell sharply …

WTI crude oil has been under severe selling pressure in recent trade. Oil has settled under $70.00, marking a more than 11% decline on the day, its worst session since last year when future contracts swung deeply into negative territory in April 2020.The oil market’s implosion comes on a day …

European Central Bank Vice President Luis de Guindos said on Friday that the new Covid-19 variant is worrying.“We have to be patient even if markets are volatile, my personal opinion that policy will remain accommodative”, de Guindos added.On the PEPP, he said, it will end in its expected size at …

Concerning new variant, the latest data from South Africa regarding a recently discovered new Covid-19 variant has caused global health authorities and the scientific community highly concerned. There is a chance that 1) the variant might be more infectious than the Delta variant and 2) might be vaccine-resistant. According to …

AUD/USD is consolidating in the mid-0.7100s having nearly hit the 0.7100 level earlier in the session. The pair is on course for steep daily losses amid heightened pandemic fears.A break of 0.7100 could see the pair drop quickly to 0.7000. The pair also tumbled below key support in the form …

European Central Bank President Christine Lagarde said on Friday that she expects inflation to begin to slow from January.“We will take action if it becomes necessary, she added, before stating that, under the current conditions, she also expects the Eurozone will no longer need net bond purchases under the PEPP …

According to vaccine-maker Pfizer, in case there was a “vaccine-escape” variant, the company expects to be able to develop and produce a new tailor-made vaccine against that variant within about 100 days.

Bitcoin tumbled nearly 8% Friday, November 26, after the discovery of a new, potentially vaccine-resistant mutated strain of the coronavirus, prompting investors to dump riskier assets for assets they consider safer such as bonds, the yen, and the dollar. Bitcoin, the largest cryptocurrency, fell as much as 7.8% to $54,377, …