The U.S. Dollar is steady after losing value across the board yesterday. Low volumes in the midst of a transition and holiday characterize today’s action.
Overview
Omicron has continued to cause a surge in infections, marking a third consecutive day of over one million infected. Markets seem to be digesting the idea that COVID is here long-term and how monetary policy could tighten in spite of concerns over the impact on economic growth.U.S. 10-year treasury bond yields have steadily climbed in the past two weeks. Meanwhile, stocks in China and Europe are up on expectations of more stimulus from China as well as tax breaks to maintain an easing environment as the virus is battled away.In the U.S., Initial as well as Continuing Jobless Claims came in lower than expected for the third week of December. Initial Jobless Claims fell below 200K for the first time since mid-November. Additionally, President Joe Biden will be on call with Russia’s Prime Minister Vladimir Putin to discuss matters of diplomacy, specifically the potential threat for aggression towards Ukraine.
What to Watch Today…
- No major economic events are scheduled for today
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