The White House has dimmed optimism over the Omicron batter after the US Food and Drug Administration approved a pair of pills from Pfizer and Merck to treat Covid-19.<\/p>\n\n\n\n
The White House has warned it will take more than six months to fulfil its initial order for Pfizer\u2019s antiviral Covid-19 pill, as officials damped speculation the drug could immediately turn the tables on the pandemic.<\/p>\n\n\n\n
Economic Data<\/strong><\/p>\n\n\n\n US crude stocks fell more than expected in the most recent week due to year-end tax considerations, analysts said, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.<\/p>\n\n\n\n Crude inventories fell by 4.7 million barrels in the week to Dec. 17 to 423.6 million barrels, compared with analysts\u2019 expectations in a Reuters poll for a 2.7 million-barrel drop.<\/p>\n\n\n\n Existing home sales in the US, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 1.9% from October to a seasonally adjusted annual rate of 6.46 million in November, below market forecasts of 6.52 million.<\/p>\n\n\n\n The US economy grew faster than expected in the third quarter of 2021 at 2.3%, above estimates of 2.1%. The third-quarter growth in America\u2019s total output in goods and services significantly slowed from the first two quarters where growth soared to 6.3% and 6.7% respectively.<\/p>\n\n\n\n Other Developments<\/strong><\/p>\n\n\n\n With the spread of the Omicron variant and lingering supply chain issues, there are concerns growth could slow again heading into 2022. On Wednesday, President Biden convened a meeting of his supply chain disruptions task force virtually and in-person in Washington, praising the significant progress in alleviating bottlenecks at the ports and other issues that had created shortages of goods and contributed to higher prices for consumers.<\/p>\n\n\n\n Biden said that retail inventories are up 3% from last year and on-shelf availability for products is at 91%, close to where it was before the pandemic.<\/p>\n\n\n\n Banks in Europe are issuing a particular type of bond in droves, locking in super low borrowing costs ahead of possibly tighter monetary policy in 2022.<\/p>\n\n\n\n Issuance of covered bonds, which are debt instruments sold by lenders, have recently risen to the highest monthly level since before the pandemic began.<\/p>\n\n\n\n Also Read<\/p>\n\n\n\n AUD\/USD Pair Eying US Data<\/a><\/p>\n\n\n\n What GDP, Growth Data Can Tell About US economic Recovery<\/a><\/p>\n\n\n\n White House Warns Pfizer Pill Won\u2019t Be Widely Available<\/a><\/p>\n\n\n\n Gold has moved back above USD 1,800<\/a><\/p>\n\n\n\n Will Jerome Powell Face Stormy 2022?<\/a><\/p>\n\n\n\n Can Futures Market Push Bitcoin\u2019s Prices Above USD 50000?<\/a><\/p>\n\n\n\n Banks Get Prepared for ECB Stimulus Withdrawal<\/a><\/p>\n\n\n\n Good News For US Homebuyers About Mortgage Rates<\/a><\/p>\n\n\n\n European Shares Close Higher After Rough Session<\/a><\/p>\n\n\n\n Oil Futures Higher, Brent Firmer After US Inventories Data<\/a><\/p>\n\n\n\n GBP\/USD Advances On Back of Positive US Data<\/a><\/p>\n\n\n\n Strong US Data Do Little To Impact EUR\/USD<\/a><\/p>\n\n\n\nEIA: US crude stockpiles Below Expectation, Fuel Higher<\/a><\/h2>\n\n\n\n