ForexLive Americas FX news wrap: Covid fears ebb but linger – ForexLive

Forex news for North American trading on November 29, 2021:

Markets:

  • Gold down $8 to $1783
  • US 10-year yields up 3 bps to 1.51%
  • WTI crude oil up $1.41 to $69.56
  • S&P 500 up 60 points to 4655
  • CAD leads, EUR lags

The market was holding its breath today on omicron and I don’t think you can exhale yet. There was some optimism but aside from the Nasdaq, the recovery was certainly incomplete. In other cases it was non-existent.

In FX, there was largely a standstill as the dollar clawed back only 30 pips against the yen as yields failed to get a real uplift. US 10s rose as high as 1.60% before falling back to 1.51%, up just 3 bps on the day. I fear that’s the signal in the noise but it might just represent a wait-and-see attitude.

Cable was weak is covid curbs go back into effect in a country that had seemingly moved past the virus.

The commodity currencies finished largely flat against the US dollar and only moderately higher against the yen. CAD/JPY stalled around the 38.2% retracement of the omicron fall and then sagged.

Forex news for North American trading on November 29, 2021:

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