Investors appear cautious at the start of the week, as they track the spread of Omicron and digest recent flight cancelations due to the variant.
Dr Faucci, the US infectious disease expert, warned on an ABC interview on Sunday, that "Every day it goes up and up. The last weekly average was about 150,000 and it likely will go much higher" .
Main Asia-Pacific stock markets were mostly down, European futures follow suit and US 10YR Yields drop.
This is a holiday-thinned week and some markets, like those of Hong Kong and Australia were out, while the UK market will remain closed.
The US Dollar finds support, the JPY Basket is on the back foot and main Commodity Currencies (AUD, NZD, CAD) are pressured against the greenback.
EUR/USD is upbeat above 1.1300.
GBP/USD is mixed as it erases earlier gains and test 1.3400.
USD/JPY is on the front foot trying for new month highs (114.52).
USD/CAD is on the offensive above 1.2800.
AUD/USD is soft below 0.7250.
NZD/USD retreats towards towards 0.6800.
GER30 loses around 0.5%, breaching 15,800.
US30 is on the defensive, threatening 35,900.
USOIL slides after three profitable days, giving 73.00 up.
XAU/USD shows indecision above 1,805.
Economic Calendar Picks (GMT)
No major economic releases are expected today, as we are at the heart of the holiday season.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 26 May 2022 https://abcnews.go.com/Health/fauci-warns-omicron-cases-higher/story