Forex Top Team

The sense of caution against the Omicron strain is for the time being

In the NY market at the beginning of the week, the movement of risk alert has receded. Fauci, the chief medical adviser to the U.S. government, said that people infected with the Omicron strain did not seem to be so severe so far, which gave the market a sense of security. The Dow Jones Industrial Average closed at $ 35227.03, up $ 646.95. And today, Dow futures are steadily rising to over $ 100 in after-hours trading.

In the foreign exchange market, the flow of yen selling has continued to lead from the previous day. The dollar-yen pair has risen to the high 113 yen level, the euro-yen pair has risen to the low 128-yen level, and the pound-yen pair has risen to around 151 yen. NY crude oil futures have also recovered to the milestone level of $ 70.

However, Mr. Fauci said that it was too early to conclude, and further research is needed, just by speaking based on information from South Africa. There is still the possibility of an early point in the market, and future information should be watched.

Also, next week, the final US FOMC will be held this year. Inflation alerts were fairly strong in the latest parliamentary testimony by FRB Chairman Jerome Powell. In fact, there is a possibility that the end time of tapering will be advanced, and it seems that the market is still in a state of caution. Before Christmas, it’s better to prepare for another turbulent and volatile market.

According to Mr. Fauci’s comment, the market is in a rebound risk-on-mood, but there are still many unclear points, and it will be far from a full-scale recovery.

I think it continues to be a big range trend.

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