Asian markets were still in the process of recovery on Monday after the emergence of a new variant, Omicron that threatened the recovery of the world economy and the policy tightening plans of several central banks.
The new variant was found to have spread as far as Canada and Australia and caused more countries to impose travel restrictions to try to curb its spread.
Britain held an emergency meeting of G7 health ministers on Monday to discuss the development of the virus although a South African doctor who has treated a case of the virus said Omicron's symptoms so far were mild.
Monday saw volatile trading momentum but there were signs of stabilization as S&P 500 futures rose 0.4% and Nasdaq futures 0.5%.
Both indices experienced their worst falls in several months on Friday with stocks traveling and companies trading badly.
Nikkei futures traded strong at 28,370 and MSCI’s broad index of Asia-Pacific stocks outside Japan was down 0.2%.
2 -year treasury yields declined 14 basis points on Friday at 0.50 which is a spread fall since March last year.
The shift in anticipation of weakening the United States (US) dollar to capitalize on the safe haven of the Japanese Yen and Swiss Franc.
Early Monday saw the dollar stabilize slightly at 113.71 yen after declining 1.7% on Friday.
The dollar index jumped 96,156 on after falling 0.7% on Friday.
The euro remained at $ 1.1283 following the $ 1.1203 rally recorded last week.
European central bank president Christine Lagarde said the Eurozone would be better prepared for the effects of the economic wave following the infection of the new Covid-19 variant, Omicron.
Commodity markets saw oil prices rebound after experiencing the biggest one -day fall since April 2020 on Friday.
Brent oil prices bounced 3.6% at $ 75.31 a barrel while US crude oil prices jumped 4.0% at $ 70.85.
Gold found safe -haven demand causing it to be at $ 1,785 per ounce.
