Crude And brent 3-month lows demand destruction front and center due to new lockdowns. Per Bloomberg “recovery in Road fuel demand in Europe has gone into revers”. Dax cannot find any footing in positive territory this week looking at a 4th consecutive decline identical to Stoxx 50, bears in control. This is a disturbing a headline. Dollar index trading above yesterday’s Highs, a close above 93.91 is could indicate a short-term bottom has been made. Trade, accordingly, mizuho pointing out that with yields so low the dollar may be the New safe haven instrument. ECB meeting at 7:45 Dovish lean is expected a big surprise would be ECB announcing an increase in Bond Buying, thus likely to occur in December.
“Covid is mutating, and a newer version now accounts for the majority of cases in several European countries. The FT reports today that a coronavirus variant that originated in Spanish farm workers has spread rapidly through much of Europe since the summer, and now accounts for the majority of new Covid-19 cases in several countries — and more than 80 per cent in the UK.
An international team of scientists that has been tracking the virus through its genetic mutations has described the extraordinary spread of the variant, called 20A.EU1, in a research to be published on Thursday. The scientific teams in Switzerland and Spain are now rushing to examine the behavior of the variant to establish whether it may be more deadly or more infectious than other strains.”
Gold lower for second day I’m watching 1851 a break of that could spell bad news for Bulls currently trading 1880.Silver-1.8%, palladium -2.25%Spoos unchanged, Nasdaq up a bit European Stocks lower.
- China new 5-year plan promises to build the nation into a technological powerhouse as it emphasized quality over speed BBG
- Today after close Apple, FB, Amazon and google report earnings. So far this morning 71 Companies have reported earnings
- A terrorist Knife attack in France has that country on edge once again as racial tensions flare BBG
- – Berlin Mayor: Measures are tough but if we give ourselves 4 weeks, we have good chance of getting through this ITC markets