Market Update

Gold rose on Friday morning in Asia. However, the yellow metal braced for its third consecutive weekly decline, weighed by signs that the US Federal Reserve will accelerate the pace of reduction in asset purchases and raise interest rates earlier than expected to curb inflationary pressures. Gold futures rose 0.66% …

Data on Friday showed that inflation in Turkey rose more than expected to 21.31% on an annual basis in November, its highest level in three years, exacerbating the decline in real yields after the unprecedented decline of the lira to its lowest levels ever. The Turkish Statistical Institute said consumer …

Japan’s Nikkei index reversed course to close higher on Friday, led by travel and leisure stocks, as investors cashed in on battered stocks amid concerns about the impact of the mutated Omicron strain of the coronavirus. The Nikkei rose 1%, the largest percentage increase in three weeks, to close at …

A number of US banks including Goldman Sachs are considering how to use bitcoin as security for cash loans to institutions.Banks such as Goldman will not touch cryptocurrency spot markets but still tend to synthetic crypto products such as futures. Emulating tri-party repo type arrangements, banks are searching for ways …

The outlook for the US economy is still clouded by the emergence of Omicron strain, this may see the US’s renewed lockdown which would benefit the Swiss franc and other safe havens. Optimism is struggling to find its way through uncertainty ahead to global financial markets until Thursday’s session closing. …

USD/CHF found good support at its 200-day moving average for a third consecutive day on Thursday. The pair has been hovering just to the north at close to 0.9180 since Tuesday, during which time it has rolled within a fairly tight 0.9180-0.9220 range. The pair has been going sideways despite …

The Canadian dollar strengthened slightly against its US counterpart on Thursday but held near its lowest level in over two months, as investors assessed the global economic impact of the Omicron coronavirus variant and looked ahead to domestic data.The Canadian dollar was trading 0.1% higher at 1.2807 to the USD, …

US equity market conditions remained for the most part uneven and unpredictable on Thursday and the S&P 500, which sold off sharply into the Wednesday closing the session under the 21-day moving average in the 4510s, bounced in early Thursday trade and now trades nearly 1.7% higher on the day …

Stocks jumped Thursday, continuing a unrestrained week for markets driven by uncertainty about the potential impact of the Omicron strain on public health and the economic recovery.Shares rose, with the S&P 500 and Dow Jones more than recouping Wednesday’s losses as of late afternoon. All 11 sectors of the S&P …

US Treasury yields jumped higher on Thursday as investors returned to attractive riskier assets and Federal Reserve officials talked up a quicker end to the central bank’s bond purchases.The benchmark 10-year yield , which had fallen to as low as 1.409% earlier in the session, was last 2 basis points …