Market Update

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, …

The futures contracts of US stock indices recorded a very negative performance before the opening of trading in light of global concerns about the new Coronavirus, which led to strong fluctuations in global financial markets. The futures contracts for the DOW JONES index decreased by 2.20% and settled at the …

European shares recorded a strong collapse in early trading today, Friday, due to new concerns about the new Coronavirus, which swept the world yesterday, Thursday, after the high rate of infections strongly. During Friday’s trading, the European Eurostoxx index fell by 2.4%. The German DAX 30 index also fell by …

Gold rose Friday morning in Asia, poised for its worst week in five months on growing bets. The US Federal Reserve will begin to taper and raise interest rates faster than expected to stem rising inflation. Gold futures rose 0.76% to $1,797.80. The yellow metal fell more than 2.8% during …

Brent crude fell by about 4 percent, to less than $ 80 a barrel on Friday, after the discovery of a new strain of the Coronavirus worried investors, which reinforced fears of a ballooning global oversupply in the first quarter of next year after coordinated withdrawals from crude reserves of …

US markets were closed due to the Thanksgiving holiday. Markets will work shortened hours on Friday, and muted trading is expected to continue. Economic DataANZ-Roy Morgan Consumer Confidence was up 1.4pts to 107.4 on the second weekend of November. Consumer Confidence is below the 2021 weekly average of 108.2. However, …

ANZ-Roy Morgan Consumer Confidence was up 1.4pts to 107.4 on the second weekend of November. Consumer Confidence is below the 2021 weekly average of 108.2. However, Consumer Confidence is now 2.9 points higher than the same week a year ago, November 21/22, 2020 (104.5).Consumer Confidence this week was up in …