Red dominates most of the stock and commodity markets

2021-12-19T18:49:12
bitcoin Negative dynamics Oil Red
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Red dominates most of the stock and commodity markets

Red dominates most of the stock and commodity markets: Although investors have been reassured by recent Federal Reserve decisions,
investors are still assessing the new Omicron variant’s situation, especially after the spread of the new strain in most countries of the world,
and the tendency of some countries to tighten restrictions and precautionary measures again. 

Therefore, it appears that markets will switch between rising to falling at a faster pace than they did, as volatility will dominate markets, according to most analysts. 

Evest follows market developments in the following report.

Topics:

Negative dynamics in Asia Europe and America

How’s the oil doing this week?

The negative developments of the Covid-19 pandemic

Bitcoin rises by 1.5%

 

 

Negative dynamics in Asia Europe and America

The negative dynamics of stock indices prevailed in Asia last Friday, with Japan’s Nikkei index falling by 1.8%, China’s Shanghai Composite index – 1.2%,
and Hong Kong’s Hang Seng index losing 1.2%.

Indices declined in Europe, with Dax falling by 0.8%, French CAC 1.2%, Futse falling by 0.1%. In the United States,
Standard & Poor’s and Dow Jones declined, while Nasdaq alone jumped by 0.02%. 

How’s the oil doing this week?

At the end of the week, the price of West Texas Intermediate crude fell by 2.87% to the US $70.3 per barrel.

The price of Brent crude for February delivery fell by 2.72% to US $72.98 per barrel.

Analysts see that last week, crude oil recorded a week of decline.

The number of the omicron variant of coronavirus infections has increased, raising concerns that new restrictions will affect fuel demand.

The price of Brent crude oil and West Texas Intermediate fell throughout the week.

Brent crude fell 2.6%, while West Texas Intermediate fell 1.3%.

With the start of the first session of the week, oil prices gained some momentum,
but new concerns about the negative developments of the Omicron variant led to a decline in gasoline prices on December 14.

On the New York Mercantile Exchange, the price of U.S. light crude oil (WTI) for January delivery fell by $0.03 per barrel,
(equivalent to 0.04%) to $71.26 per barrel in the early morning of December 14.

The price of Brent crude for February delivery was traded at $74.39 a barrel, down 1.01% (equivalent to $0.76 a barrel).

Oil prices have fallen with new concerns about the negative development of the Omicron variant,
and doubts about the effectiveness of the Covid-19 vaccine against this variant have raised concerns about consumer demand expectations, according to experts.

According to the World Health Organization (WHO), Omicron poses a “very high risk” globally because,
this alternative has vaccine immunity and is spreading rapidly in dozens of countries. 

The Omicron variant is spreading rapidly with more than 60 countries reporting infections, prompting oil prices to continue to fall sharply on December 15. 

The negative developments of the Covid-19 pandemic

The negative developments of the Covid-19 pandemic have forced many countries to strengthen disease prevention and control measures, including travel restrictions.

Oil prices declined sharply on December 17 after a day of gains due to warnings of a possible spread of the Omicron variant,
raising concerns about weak expectations for oil demand.

According to the experts, there are fears of weak global oil demand as the Covid-19 wave spreads,
compounding the negative impact on economic activities, thus causing oil prices to fall.

New infections were recorded in Asia in conjunction with WHO warning that the strain was spreading at an unprecedented rate. 

Omicron was first detected in South Africa and has spread to 79 countries around the world so far,
even the World Health Organization believes that this variant may already exist in most countries,
even if it is not discovered.

On the other hand, many European countries re-imposed travel restrictions due to the expanding pressure of Omicron, causing oil prices to fall on December 18.

On the New York Mercantile Exchange, West Texas Intermediate light crude delivered in January 2022 was $70.29 per barrel,
down $2.09 per barrel during the session early in the morning of December 18.

The price of Brent oil delivered in February 2022 stabilized at $72.99 per barrel, down $2.03 per barrel during the session.

Analysts fear a sharp decline in oil demand under the Covid-19 pandemic, with the Omicron variant still spreading in many countries,
as well as warning that it could lead to a difficult period for the world. 

 

Bitcoin rises by 1.5%

On Saturday Bitcoin rose against the US dollar, by 1.54% on Saturday.

Bitcoin partially reversed its 3.10% decline from Friday, ending the day at $46,873.

This week, the entire cryptocurrency market fell to a low of 2,054 billion on Monday before rising to a high of 2303 billion on Thursday. 

At the time of writing this report, the total market value is $2,194 billion.

Bitcoin’s dominance rose to a Tuesday high of 42.25% on Tuesday before falling to a low of 40.22% on Saturday.

At the time of writing this report, Bitcoin dominance is 40.33%.

At the time of writing this report, the price of Bitcoin fell by 0.05% to $46848.

The mixed start of the day saw the Bitcoin currency rise to an early morning high of $46,920 before falling to $46,783.

 

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