WTI up a little over 2% around $67
It is tough to get too optimistic about oil prospects at the moment as omicron fears are still weighing quite heavily on the fundamental backdrop.

Latest data released by Destatis – 2 December 2021

Latest data released by Eurostat – 2 December 2021
here

Reuters reports, citing OPEC+ sources
That shouldn’t be a surprise as it is pretty much the benchmark expectation that oil traders are looking for later today. If they do not go forward with that, I fear that we could see the ugly past few days in oil continue despite a light bounce so far today.

A look at what is on the board for today
Nothing too significant although there are modestly large ones nearby the current spot price for USD/JPY and GBP/USD.

Latest data from the Mortgage Bankers Association for the week ending 26 November 2021
–  +1.8%

The China securities regulator labels the report as being „not factual“
This comes after an earlier report by Bloomberg, stating that China plans to ban the loophole that is exploited by tech firms for foreign IPOs.

SNB
Leaning on a spear can be a similar analogy to relying on the SNB to intervene in the EURCHF exchange rate. In January 2015 the SNB famously stepped back from defending the 1.2000 peg and the pair fell dramatically.However, despite this unreliable past the SNB still to regularly intervene in the EURCHF pair by buying

OECD says that inflation is the main risk to the economic outlook
The organisation says that the main risk to the otherwise upbeat global outlook is that if the current inflation spike proves longer and rises more than anticipated.

Danske expects the Fed to finish tapering in April now, as compared to June previously, in light of Powell’s hawkish shift yesterday
The firm is revising its Fed call after Powell’s remarks, arguing that the Fed is expected to increase the pace of tapering from $15 billion per month to $25 billion per month so that