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

Regeneron and Lilly antibody drug cocktails reportedly lose effectiveness against the omicron variant
This according to a WSJ report, with Regeneron saying that its COVID-19 antibody drug cocktail was found to lose effectiveness against omicron based on preliminary tests. Adding that perhaps there needs to be a modification if the new strain becomes widespread.

Latest data released by Eurostat – 30 November 2021
However, services inflation and non-energy industrial goods inflation were both also seen above the 2% mark. That suggests that the rise in underlying price pressures is quite broad as well. Just something to be wary about.

A full 25 bps rate hike now seen in September 2022
That compares to last week when a 25 bps rate hike was priced in for July 2022 instead. As mentioned , this is arguably one reason why the euro is managing to take in some comfort against the dollar since Friday.

10-year Treasury yields approaching a key technical crossroads
The November low and the 100-day moving average (purple line) resides at the level so a break below that could see yields tumble further amid the risk-off sentiment in the market.

What is driving the move higher in EUR/USD?
A simplistic approach to viewing major currencies is that when markets are risk-off, the main beneficiaries are typically the yen, franc and dollar.

Also declines to comment on OPEC+ plans ahead of the meeting this week
In truth, nobody knows for sure how serious the Omicron variant is going to be but for now, markets are on edge but breathing a little easier to start the new week.

Latest data released by Destatis – 29 November 2021