Uncertain winter ahead
Today's news headlines:
‘England to introduce new Omicron restrictions from Tuesday’. Omicron, the new coronavirus variant, has prompted ministers to re-introduce anti-Covid measures to prevent it from spreading across the country. The new rules will see the return of mandatory face masks in shops and on all public transport as well as PCR tests for anyone entering the country from 4am on Tuesday 30th of November. As of Monday morning, three confirmed cases of the new variant have been detected in the UK, with experts expecting that number to rise in the coming days. (Financial Times)
‘Airlines scramble to navigate fast-degrading travel outlook’. Airlines are being forced to assess flight schedules as travel restrictions are reimposed globally in response to the new coronavirus variant. Several countries have introduced travel bans from countries in the south of Africa, while Japan has banned all foreign visitors until more information is known about the variant. Flight bookings are expected to be weaker over the winter months, causing Bloomberg’s EMEA Airline Index to be down 18% in November. (Bloomberg)
US and European equity futures climbed along with oil prices on Monday following Friday’s dramatic sell-off as markets assessed the economic risks associated with the new variant. The trade-weighted US Dollar Index bounced on Monday morning while the Euro Index reversed gains.
UK Mortgage Approvals (Oct): 09:30AM
Eurozone Consumer and Economic Confidence Surveys (Nov): 10:00AM
German Consumer Price Index (Nov): 1:00PM
Canadian Industrial Production (Oct): 1:30PM
Japanese Industrial Production (Oct): 11:30PM
GBP/USD – 1.3321
GBP/EUR – 1.1826
EUR/USD – 1.1264
USD/CAD – 1.2747
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