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Forexlive RSS Breaking news feed

Forexlive Nth American FX News 26 Nov - Omicron fears hit stock bulls alpha

Posted: 26 Nov 2021 12:25 PM PST

Risk off reigns Black Friday sale hits the markets. Did you grab a bargain? Europe's Stoxx 600 sees worse day sine June 2020Dow saw the biggest one day drop since Oct 28, 2020Nasdaq closes with biggest one day drop since Sep 28

WHO names new COVID variant 'omicron'

Posted: 26 Nov 2021 12:05 PM PST

It's a greek letter  So the rumour was it was going to be called Nu (another greek letter that looks like this 'v') . The next letter after Nu would be Xi. It looks weird, and I don't know the unicode for the keyboard, but here is a picture of it. The left hand letter circled

USDJPY putting in strong reversal on weekly chart

Posted: 26 Nov 2021 11:34 AM PST

Yields falling and quicker rate hike expectations on virus fears. The weekly chart is showing a strong rejection of 115.00 and, if the close is right, a bearish engulfing bar taking in over a month of price. Technically this opens up a re-test of 112 for next week. 

US to impose travel restrictions on 8 SA countries due to new variant

Posted: 26 Nov 2021 11:04 AM PST

Limiting movement The more restrictions of movement that build the worse this will be for risk and oil prices. The US now joining Canada in limiting border access.

Book review: Thinking, Fast and Slow by D.Kahneman

Posted: 26 Nov 2021 11:00 AM PST

What's your thinking like?  Are you a robust statistical thinker? Have you ever studied statistics and probabilities? Do you rely solely on gut feel and intuition? 

Canada closing borders to passengers from South Africa

Posted: 26 Nov 2021 10:41 AM PST

An abundance of caution Canada the latest country trying to shut borders from the SA variant. If the delta is anything to go by, then it is hard to contain a variant. 

Novavax onto tackling the variant

Posted: 26 Nov 2021 10:24 AM PST

Another vaccine manufacturer on the case JnJ, AstraZeneca already on the case. Now Novavax joins the fight. 

Meanwhile, in Europe, Dutch PM moves to contain COVID-19 surge

Posted: 26 Nov 2021 10:17 AM PST

In other covid news as Dutch PM acts

WHO raises preliminary study issue which may hit risk into close

Posted: 26 Nov 2021 10:01 AM PST

Some comments breaking  But the main issues remains - is the vaccine effective against it? 

WHO designates B.1.1.529 as a variant of concern , names it Omicron

Posted: 26 Nov 2021 09:55 AM PST

As expected No surprise here. There was talk the variant would be named 'Nu' but this is less confusing.

World Health Organisation due to release press statement within next hour

Posted: 26 Nov 2021 09:48 AM PST

WHO press release due, according to top SA scientist de Oliveira Talk about a panicking market! Risk off selling has stalled for now as markets take some comfort from some recent headlines over vaccine work and anecdotal evidence suggesting new variant is not necessarily a big threat. Still too many unknowns to blow either way on

AstraZeneca conducting research in locations where variant has been located

Posted: 26 Nov 2021 09:39 AM PST

Well if J& J can do it, so can AZ

Review: Truth and Li(e)bor. S. Contogoulas

Posted: 26 Nov 2021 09:20 AM PST

As slippy as an eel  Ok folks, anything big breaks I am here. However, check out this book review on a little book I recently read on the Libor scandal out of the UK. Here was my take on it. 

Johnson & Johnson: Testing against new SA variant has already begun

Posted: 26 Nov 2021 09:02 AM PST

This is good .  It means we should find out pretty quickly what the true risk is of this new variant This whole saga could disappear as quickly as it has come if the vaccine is found to be effective against the variant.

SA Health Department: WHO to designate SA variant as 'of concern'

Posted: 26 Nov 2021 08:52 AM PST

Designation from WHO looks to be in  Equity futures making fresh lows on this headline, but this is not a major surprise. Of more interest is going to be the impact it is actually having in SA.

South African scientist Sanne on vaccine efficacy on variant

Posted: 26 Nov 2021 08:42 AM PST

This sounds promising  This is good.  Remember that it is going to be hospitals and deaths that markets are most concerned about - not merely transmission. Does the vaccine still work, that's what everyone wants to know

European markets close heavily down on variant fears

Posted: 26 Nov 2021 08:36 AM PST

ouch  Tough landing for European markets which were already facing headwinds from rising COVID cases Europe's Stoxx 600 sees worse day sine June 2020

South Africa Health Minister says reaction to COVID variant is unjustified

Posted: 26 Nov 2021 08:18 AM PST

Storm in a teacup? However, if the virus is more transmissible then the concern is justified to some extent. This will not reassure thin jumpy markets.

Canada September Budget Balance C$11.41 vs C-9.83 bln prior

Posted: 26 Nov 2021 08:00 AM PST

Statistics Canada  Budget, year to date (April - September): C$-68.57B vs -57.15bln prior. The budget deficit is nothing new and weak oil is dragging the CAD down today.

Why is the USD weak today (sometimes it is strong on risk off flows)

Posted: 26 Nov 2021 07:37 AM PST

Just smile Remember the USD smile theory? Well sometimes the USD has different drivers at different times. .  See here for one article I have written on this

UK National Virology Consortium on new variant mutations

Posted: 26 Nov 2021 07:15 AM PST

Mutation news This has not halted the steady risk off tones which are now continuing. Pretty unclear what it means to those outside of the National Virology Consortium. Expect scientists to be going through this with a fine tooth comb over the weekend.  Oil at fresh lows, Dow at fresh lows, VIX pushing higher. 

US oil makes fresh lows on EU agency headline

Posted: 26 Nov 2021 06:53 AM PST

Down over 7% on the day If the world goes back into lockdowns then oil demand will tank sharply lower. y hits risk and sends US oil down through daily lows. Price is at daily support around 72.50.  Next key support sits below this at 67.00

EU Agency names new COVID strain a 'variant of concern'

Posted: 26 Nov 2021 06:45 AM PST

Risk hit a little more Equity markets pushing back towards daily lows on this headline. WHO is still meeting and set to give their verdict at some point today. Expect it to move the risk needle again when the WHO comment breaks

ICYMI: Adam and Ashraif on USD, JPY, EUR & gold.

Posted: 26 Nov 2021 06:38 AM PST

If things start to slow If you are looking for something to fill a slow hour then don't miss this chat from earlier in the Asia session with Adam and Ashraif.

NZDJPY: Chart in focus for dip buyers on CB divergence

Posted: 26 Nov 2021 06:20 AM PST

NZDJPY gains? The risk off markets have hit the risk sensitive NZDJPY pair hard. However, medium term there is good value here if this latest variant scare proves to be a false alarm. 
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