US Stocks Lower on Fears Fed Will Accelerate Tightening; British Inflation Exceeds Expectations; Australian Dollar Gains on Strong Jobs Numbers
Enter your emailUS stocks dropped firmly yesterday on fears the Fed will accelerate the pace of tightening monetary policy.markets dropped quite firmly yesterday as fears increase that the Federal Reserve will quicken its pace in tightening monetary policy over the coming months
In the Forex market, the Australian dollar is the strongest major currency, while the New Zealand dollar is the weakest., as risk sentiment sours. Bitcoin is looking more likely to break below key support at $40k simultaneously with Ethereum breaking below key support at $3k., notably WTI Crude Oil and Cotton, with Corn also threatening to make a breakout. WTI Crude Oil has retreated from its high.
Data suggests that the globally rampant omicron coronavirus variant, while considerably more infectious, has notably milder effects than previous coronavirus strains, with an estimated 70% reduction in the probability of hospitalization. This is potentially very good news for both health and economy. Pfizer have announced they plan to have an omicron-specific vaccine ready in March.