Market Update – November 29 – Omicron dominates sentiment

  • USDIndex 96.30 نےFriday slump سےRecover کیا.Stocks نے2.2% lose کیاThin-half day میں.Oil FUTS نے-13% lose کیا.Gold slump اور
    Yields (10yr 1.482%) بڑھے.Safe-heaven Bid (JPY& CHF). EUR Bid. Risk-off Day رہ سکتاہے.Weekend news میں کئی ممالک نےFlights blocks کردیں اورTighten restriction لیکنOmicron کا پہلاCase South Africa میں سامنے آیا اور وہاںHospitals ابھی بھرے نہیں ہیں.Pfizer نےSuggest کیا ہے کہ نئیVaccine بنانے میں100 دن لگ سکتےہیں.
  • US yields 10yr اب5.1 bp پر1.52% پرFriday slump کے بعد.
    Equities میں تیزیFriday کےShort day میںUSA500 -106.84 (-2.27%) رہا تقریبا45941 پر.USA500.F 4639 پر اوپرTrade کررہاہے.
  • USOil میں$67.08 تک کمی. اب تقریبا$4 اوپر$71.00 پر.OPEC+ نے اسWeek meeting میں2 دن کی تاخیر کردی.
  • Gold $1780 سے نیچے. پھر$1795 پرBounce اور اب$1800 پر جانے کی کوشش.

FX markets – EURUSD now 1.1270, after a +125pip rally on Friday, USDJPY now 113.36, from 115.50 to 113.00 on Friday & Cable back to 1.3325. 

Overnight JPY Retail Sales recover but miss expectations  (0.9% vs 1.2% & -0.5% last time).

European Open

December 10yr Bund Future اب-27 ticks نیچے ہے.US Futures بھیRed ہیں.Ten year rate اب1.52% ہے.Stock markets پرPressure رہا.DAX& FTSE 100 دونوں اوپر.1.3% اورNasdaq .1.2% میںUS Futures .1.2% rise اوپر.Friday سےVirus focus میں.Travel restrictions دوبارہ.Lagarde نےComment دیا ہے کہOmicron سے اب ویسے خطرے نہیں ہیں جیسے پہلےPandemic سے ہوۓ.ECB سےPEPP اگلے سال MarchمیںEnd کی امید ہے لیکنEmergencies میں یہ استعمال ہوسکیں گے اور خبر ہے کہBoE اپناPlanned hike اگلے سال تکPostpone کردے

Today – German regional & national CPIs, EZ Consumer Confidence, US Pending Home Sales, ECB’s de Guindos, Schnabel, Lagarde, Fed’s Williams, Powell.

Biggest FX Mover

CADCHF (1.00%) (GMT 07:30) Friday risk-off collapse اب یہ0.7280 تکRecover ہوگیا.MACD& Signal line .MA’s aligned high اوپر لیکن0 line سے نیچے.RSI 53.80, Daily ATR 0.0062,
H1 ATR 0.0018

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Stuart Cowell

Head Market Analyst

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