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Market Analysis

November, 2021

  • 29 November 2021 10:35 pm

    Could Omicron Impact BoE’s Rate Hike Intention?

    The Omicron variant would not discourage the Monetary Policy Committee from hiking rates. The BoE needs flexibility to deal with unforeseen events after Boris Johnson had announced the reintroduction of mask-wearing and travel restrictions. A rate hike will do nothing to counterbalance the pressure the new variant will place on …

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  • 29 November 2021 10:10 pm

    Canadian Housing Market To Heat Up

    The Bank of Canada’s last announcement on its benchmark policy rate has started out a wave of speculation about the possible future trajectory of Canada’s housing market, with the news that it expected rate hike potentially as early as April 2022.There will be an end to the record-low interest rates …

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  • 29 November 2021 9:27 pm

    Swiss Franc Surges As Central Bank Stands Back

    The Swiss National Bank has ceased to stand in the way of the franc’s appreciation, according to data published on Monday, in an eye-catching change in view of the safe-haven currency’s rise to its highest against the euro in more than six years.The central bank’s apparent stance will confound investors …

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  • 29 November 2021 9:05 pm

    Gold Eases as Markets Eye Omicron impact

    Gold eased on Monday, resuming a broad decline from the previous week, as the dollar has firmed and risk sentiment recovered with markets weighing how severe the economic impact would be from the Omicron coronavirus variant.Spot gold fell 0.4% to $1,784.41 per ounce by 11:17 a.m. ET (1617 GMT) after …

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  • 29 November 2021 8:05 pm

    WTI Crude Continues Impressive Bounce

    Oil prices have continued to press higher, with front-month WTI crude futures now up more than USD 4.0 on the day and back in the USD 72.00s, nearly 50% of Friday’s steep decline over news on Omicron variant concerns has now been unwound.To get above the 50% Fibonacci retracement of …

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  • 29 November 2021 7:27 pm

    October’s US Pending Home Sales Rises By 7.5%

    Pending Home Sales in the US jumped by 7.5% on a monthly basis in October following September’s 2.3% drop, data published by the US National Association of Realtors showed on Monday. That saw the Pending Home Sales index jump to 125.2 in October from 116.5 in September. On a YoY …

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  • 29 November 2021 6:09 pm

    Market Drivers – European Session 29-11-2021

    Turkish President Recep Tayyip Erdogan said on Monday he would never support a rate hike and “never back down from it”, repeating his support for recent interest rate cuts that have caused the lira to plummet. NTV quoted Erdogan as telling reporters during his return flight from a visit to …

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  • 29 November 2021 5:39 pm

    Oil Prices Rose on Opec+

    Oil prices rose on Monday, November 29, on speculation that OPEC + may halt the increase in oil production in light of the spread of the Omicron strain of the Coronavirus, but the atmosphere remains cautious in light of insufficient information about the new mutation. There is concern that the …

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  • 29 November 2021 5:14 pm

    Germany: Annual HICP Rises to 6.0% in November

    The annual Harmonized Index of Consumer Prices (HICP), the European Central Bank’s preferred gauge of inflation, rose to 6.0% from 4.6% in October, compared to analysts’ estimate of 5.4%. MoM, the HICP was up 0.3%, above consensus expectations for a 0.5% drop.

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  • 29 November 2021 4:27 pm

    Dollar Rises, Major Currencies Fall After Turmoil Due to Omicron

    The dollar rose while the euro fell, and the yen stabilized on Monday as markets calmed after the first shock of discovering a new coronavirus mutant. The mutant Omicron, which was first detected in South Africa, caused global concern, as financial markets fell on Friday, amid fears that its appearance …

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  • 29 November 2021 3:06 pm

    European Shares Rebound on Sell-off Driven by Omicron Fears

    European shares rebounded on Monday amid their steepest selling in over a year as investors awaited signs of whether the new Omicron strain of the coronavirus will hamper economic recovery and central banks’ monetary tightening plans. The pan-European Stoxx 600 index was up 1 percent by 0818 GMT, after falling …

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  • 29 November 2021 2:30 pm

    Market Drivers – Asian Session 29-11-2021

    The market is still on guard at the opening of the week due to the corona mutant believed to be resistant to existing vaccines. Gold rose in Monday morning trading in Asia, with concerns about the impact of the vaccine-resistant COVID-19 omicron variant giving the safe-haven yellow metal a boost. …

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  • 29 November 2021 1:19 pm

    Gold Rises as Fears of Omicron Boost Its Allure

    Gold prices rose on Monday after concerns about the impact of the potentially vaccine-resistant Omicron strain of coronavirus boosted gold’s safe-haven appeal. Spot gold rose 0.1 percent to $1,793.72 an ounce. US gold futures rose 0.4 percent to settle at $1,793.2. Actual demand for gold in major Asian hubs increased …

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