Free Trial

Consolidation Mode But Remains Bearish


Fails To Hold Onto Thursday’s High


'Big Tech' Bill Goes To Senate


Oil Up For Fifth Week On Supply Disruption, Geopolitics

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Early Asian markets trended weaker on Monday and the safe-haven U.S. dollar was in favour on uncertainty about a new variant of Covid-19 out of South Africa dubbed Omicron that led several countries to tighten border controls and sent global markets sharply lower last week.

Nikkei equity futures fell more than 2%, with Australia and Hong Kong down more than 1% ahead of Monday trade. The S&P 500 slumped on Friday and Brent crude oil eased more than 10%. Yields on U.S. Treasuries tumbled the most since March 2020.

But the USD gained against the yen and euro in early trading on Monday in Sydney.

At the weekend, the World Health Organization called for caution after two South African health experts, including the doctor who first sounded the alarm about the omicron variant, indicated that symptoms linked to the coronavirus strain have been mild so far, according to news reports.

"Understanding the level of severity of the Omicron variant will take days to several weeks," WHO said in a statement. "There is, currently no information to suggest that symptoms associated with omicron are different from those from other variants."