Market Update

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 …

Thursday has been a uneven day for crude oil prices, as traders eye OPEC+ decision to hike concerning January production.The big news of the day was OPEC+’s decision to surprise markets by not choosing to halt output hikes in January but to press ahead with another incremental 400000 barrel per …

The Euro drops sharply during the New York session, down 0.08%, trading around the 1.1300s. In the last two hours, the market sentiment has been mixed. European stock indices finished the session in the red territory, contrarily of rising US indices across the pond. The NZD and the GBP are …

Eurozone government bond yields fell on Thursday as the new Omicron coronavirus variant dampened risk sentiment.European shares dropped after a recovery in stock markets overnight was wiped out when United States identified its first known COVID-19 case caused by the Omicron variant in a fully vaccinated patient. read moreThat news …

Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said on Thursday that the Fed is open to the possibility that maximum employment might be fewer jobs than before. Additional Comments:“Understanding what maximum employment is in the current environment will take some time.”“My interest rate path is to go …