Dollar rises as Omicron's impact is assessed
The US dollar rose against most currencies on Monday, and extended gains, as the market assess the Omicron variant impact.
Concerns increased around the world after a new Covid-19 variant emerged called "Omicron," as it first appeared in South Africa last week, which sparked concerns of its rapid spread and resistance to vaccines.
Countries around the world, including the Netherlands and Germany, discovered the Omicron variant coming from African countries.
Moderna company announced that it is developing an anti-vaccine to prevent the Omicron variant to be available in large quantities early next year.
US President Joe Biden said that there's no need for lockdowns if people are vaccinated and wear their mask, while scientists study the omicron variant.
The dollar index rose against a basket of major currencies by 0.3% to 96.3 points as of 19:34 GMT, after hitting a high of 96.4 points and a low of 96.1 points.
Gold falls on dollar strength
Gold prices fell on Monday, as the US dollar rose against most currencies, while investors turned to risk assets as the market asses the Omicron variant impact.
Concerns increased around the world after a new Covid-19 variant emerged called "Omicron," as it first appeared in South Africa last week, which sparked concerns of its rapid spread and resistance to vaccines.
Moderna company announced that it is developing an anti-vaccine to prevent the Omicron variant to be available in large quantities early next year.
US President Joe Biden said that there's no need for lockdowns if people are vaccinated and wear their mask, while scientists study the omicron variant.
The dollar index rose against a basket of major currencies by 0.3% to 96.3 points as of 19:58 GMT, after hitting a high of 96.4 points and a low of 96.1 points.
Gold spot prices fell 0.2% to $1,781.1 an ounce as of 19:40 GMT.
Copper rises over 1% despite rising dollar and Omicron worries
Copper prices rose on Monday, despite the US dollar's rise against most currencies, and concerns over the Omicron variant.
Concerns increased around the world after a new Covid-19 variant emerged called "Omicron," as it first appeared in South Africa last week, which sparked concerns of its rapid spread and resistance to vaccines.
Countries around the world, including the Netherlands and Germany, discovered the Omicron variant coming from African countries.
Moderna company announced that it is developing an anti-vaccine to prevent the Omicron variant to be available in large quantities early next year.
The dollar index rose against a basket of major currencies by 0.3% to 96.4 points as of 14:58 GMT, after hitting a high of 96.4 points and a low of 96.1 points.
Copper December futures rose 1.1% to $4.33 per pound as of 14:49 GMT.
Dow Jones rises above 35,000 in early trading
US stock indices rose in early trading on Monday, as investors assess the latest updates about the coronavirus variant and its spread.
Concerns increased around the world after a new Covid-19 variant emerged called "Omicron," as it first appeared in South Africa last week, which sparked concerns of its rapid spread and resistance to vaccines.
Countries around the world, including the Netherlands and Germany, discovered the Omicron variant coming from African countries.
Moderna company announced that it is developing an anti-vaccine to prevent the Omicron variant to be available in large quantities early next year.
As for stocks, Dow Jones rose 0.3% or 103 points to 35,002 as of 15:26 GMT, and S&P 500 rose 1% or 46 points to 4,640, while Nasdaq rose 1.4% or 222 points to 15,714 points.