In the commodity market, oil prices continue to tumble on worries that the new COVID strain would trigger new lockdowns and thus hit demand for crude even harder. Both WTI and Brent brands are down over 2.10%, after gaining about 40% in the last two months to hit the highest in nine months.
Gold reacted positively on the recently approved stimulus package in the US, but the metal is retreating as investors are more focused on the USD rebound. Gold futures are down 0.08% to $1,881, after breaking above $1,900 for the first time since the beginning of November.
In FX, the US dollar is recovering as investors are looking for safe-havens. The USD Index is up 0.26% to 90.188. EUR/USD is down 0.16% to 1.2222.
The pound is declining against both majors as London just introduced a total lockdown. On the Brexit front, some hopes showed up after Johnson hinted that he was ready to step back on fisheries and revealed a new proposal on fishing rights.
By Strategy Desk
