Australian dollar falls on global lockdown fears
The Australian dollar fell against most of its peers on Friday, despite the release of upbeat economic data, amid concerns over the return of travel restrictions and global closures.
Concerns increased around the world after a new Covid-19 variant emerged called "Botswana", as it first appeared in the African country.
Scientists said that the new variant has 32 mutations in the spike protein.
Accordingly, this would help it escape more easily from the human immune system and spread quickly.
Data showed today that the Australian retail sales index rose 4.9% during October, beating forecasts of 2.2%.
As of 16:27 GMT, AUD/USD fell 1% to 0.7118, after hitting a high of 0.7199 and a low of 0.7112.
Dow Jones drops over 900 points on fears over new Covid variant
US stock indices fell slumped in early trading today on Friday, amid anxiety over about the new coronavirus variant.
Concerns increased around the world after a new Covid-19 variant emerged called "Botswana", as it first appeared in the African country.
Scientists said that the new variant has 32 mutations in the spike protein.
Accordingly, this would help it escape more easily from the human immune system and spread quickly.
As for stocks, Dow Jones fell 2.5% or 920 points to 34,915 as of 15:04 GMT, and S&P 500 fell 1.8% or 85 points to 4,617, while Nasdaq fell 1.4% or 230 points to 15,617 points.
Oil drops nearly 6%, hits 2-month low on coronavirus variant fears
Oil prices slumped 6% on Friday, deepening losses for the third day in a row and hit a 2-month low, due to global demand fears after a new coronavirus variant emerged, which the scientists call Botswana.
US crude fell 6% to the lowest since September 23 at $73.40 a barrel, after opening at $78.08, and hit a high at $78.15, and Brent crude fell more than 5.2% to the lowest since September 30 at $78.02 barrel, after opening at $82.23, and hit a high at $82.25.
US crude lost 0.4% yesterday, posting its second straight daily loss due to fears over the US oversupply, and Brent crude edged higher by 0.1%.
The UK warned from the spread of a new variant that was first discovered in Botswana, and scientists confirmed that it contains a high number of mutations.
Scientists confirmed that the variant may lead to further spreading of the coronavirus, according to the Independent newspaper.
Scientists said that the new variant has 32 mutations in the spike protein, which would help it escape more easily from the human immune system and spread quickly.
These negative news come at a time when Europe is facing the spread of the fourth wave of the pandemic, with some countries, such as Austria, re-imposing a full lockdown again.
Gold jumps above $1,800 after news of Botswana Covid variant
Gold prices jumped on Friday, to rise again above the $1,800 barrier, while on track for the second straight daily gain, due to strong safe-haven demand, after a new coronavirus variant emerged, which the scientists call Botswana.
Gold prices rose 1.1% to $1,809.02 an ounce, after opening at $1,789.08, and hit a low at $1,789.08.
Gold gained less than 0.1% yesterday, the first gain in 6 days, within recovery from a 3-week low of $1,778.45 an ounce.
Scientists confirmed that the variant may lead to further spreading of the coronavirus, according to the Independent newspaper.
Scientists said that the new variant has 32 mutations in the spike protein, which would help it escape more easily from the human immune system and spread quickly.
Gold stocks at the SPDR ETF remained unchanged on yesterday, with the total at the highest level since September 24 of 991.11 metric tonnes.