Equities mixed after rout on new Covid-19 variant scare - 29.11.2021

The Dollar weakening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.5% on Friday.

GBP/USD joined EUR/USD’s continued climbing Friday as the federal statistics agency Destatis reported the import prices index in Germany accelerated its increase in October when a decline was expected. Both euro and Pound are lower against the Dollar currently. Both AUD/USD and USD/JPY accelerated their retreating Friday with the Australian dollar higher against the Greenback currently and yen lower.

Futures on US equity benchmarks are rebounding currently with 10-year US treasury yields up at 1.534%. The Wall Street tumbled Friday as investors sold off in shorter than normal session. Dow registered its worst loss of the year: the three main US stock benchmarks recorded daily losses ranging from 2.3% to 2.5%.

European stock indexes are up currently as concerns over tightening restrictive measures after new coronavirus variant emergence subside. Indexes plunged on Friday led by travel and leisure shares. Asian indexes are mostly down today with NIKKEI leading losses as Japan moved to bar entry of foreigners to head off the new strain named Omicron.

Brent is recovering currently amid reports the OPEC producer group may pause output increases. OPEC+ announced it is moving two technical meetings to later this week after oil’s rout last Friday. Prices sank on Friday concerns the new virus variant could dampen fuel demand as it hurts global growth. West Texas Intermediate (WTI) futures plunged 13.1% but is higher currently. Brent crude dropped 11.6% to $72.72 a barrel on Friday.