In the commodity market, oil prices are retreating after hitting the highest level in two months. WTI has dropped 0.70%, and Brent has lost 0.38% on the back of demand worries amid new restrictions. The prices are supported by demand in mainland China and a smaller-than-expected build in US inventories as reported by the Energy Information Administration.
Gold continues to decline amid vaccine hopes and a stronger US dollar. The metal is down 0.80% to $1,859, close to the lowest level since July.
In FX, the US dollar is supported by persisting virus worries. The US Index rose 0.16% to 92.457. The index is still very close to the lowest level since March 2018. EUR/USD is down only 0.02% to 1.1850.
By Strategy Desk
