WTI Crude Oil Continues Strong Advance; Chinese GDP Beats Expectations; Bond Yields Rise
It is a public holiday in the USA today due to Martin Luther King Day. US stock markets will be closed and trading in the Forex market will likely be lighter than usual.
Daily new coronavirus cases soared to a new global record Thursday, with more than 3.3 million new cases recorded for the first time. Data suggests that the globally rampant omicron coronavirus variant, while considerably more infectious, has notably milder effects than previous coronavirus strains, with an estimated 70% reduction in the probability of hospitalization. This is potentially very good news for both health and economy. Pfizer have announced they plan to have an omicron-specific vaccine ready in March.