As participants return to their desks, developments on the Omicron front will remain the key risk this week. Scientists continue to profile its traits and while at first, it appears less severe in illness, its transmissibility is highly concerning. Further news on the new variant could have further ramifications for markets that have already seen significant moves as a consequence of its discovery.
Last week’s softer than expected US employment report did little to steer markets outside of their existing course. The greenback continued to strengthen into the close of the week while stocks were mixed. US inflation data will be the highlight over the next few days with the latest November reading expected to come in at a staggering 6.7%. Elsewhere, UK GDP will on tap, with its release crossing the news wires on Friday too. This comes ahead of their monetary policy meeting next week where expectations have built up once again for a small interest rate rise.
Have a good week.
Written by Viv Savani. 6:49am, December 6th 2021Share
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