【TOP1 Morning】New drug disrupts the market. USD revives, crude oil stock index slips

Gold: The price of gold fell slightly.

Spot gold fell 0.2% to US$1,877.83 per ounce, and earlier hit US$1,906.46, the highest since November 9. US gold futures closed down 0.3%, to 1,882.80 US dollars per ounce.

Driven by reports that the leaders of the US Congress reached an agreement on the $900 billion plan, the price of gold rose more than 1% earlier in the session.

Bob Haberkorn, senior market strategist at RJO Futures, said, "Gold market traders are generally concerned about the U.S. Senate. The stimulus package agreed last night will be passed this afternoon. It is an expected result. As the transaction unfolds this week, the price of gold will Higher, but I think today traders are starting to pay attention to the situation of the new strains in the UK.”

Forex: USD index rebounded.

USD index rose 0.38% to 90.625, having touched 89.723 on Thursday, the first time since April 2018.

As investors turned away from safe-haven assets, the Australian and New Zealand dollars fell earlier this week. The Australian dollar fell 1.24% to 75.295.

USD rose 0.32% to 103.62 JPY.

GBP fell 1.85% to 1.3277 against USD.

EUR also recorded a decline against the US dollar, falling 0.74% to 1.2169 USD, but rose 1.26% to 0.9170 GBP.

The pound and the euro fell, and investors sought a safe haven for the US dollar. The international freight market was also severely affected due to the re-blocking of many areas in the UK. At the same time, there was uncertainty in the Brexit negotiations.

Crude oil: Crude oil futures fell during the US trading session.

New York Mercantile Exchange's February crude oil futures traded at 2.54% before the deadline and traded at USD47.99 per barrel.

The February transaction price of Nymex Brent crude oil fell 2.51% to USD50.95 per barrel; while the contract price of Brent crude oil and crude oil was set at USD2.96 per barrel.

Stock market: Dow futures plunged over 500 points.

Dow futures plunged more than 500 points, or 1.85%; S&P 500 index futures, Nasdaq index futures, and Russell 2000 index futures fell 2.07%, 1.30% and 3.29%, respectively. When European and American stock markets suffered a sharp sell-off, and European currencies such as the euro and the British pound plummeted, funds poured into the US dollar as a hedge, and the panic indicator soared by more than 30%.

U.S. travel stocks are under pressure due to news that a new type of infectious coronavirus has been discovered in the UK, leading to more severe lockdowns and travel restrictions across Europe.

Norwegian Cruise Line and Royal Caribbean Cruises’ share prices both fell more than 9% in pre-market trading. Delta Air Lines fell 8% in early trading. Shares of companies affected by stricter lockdown measures fell, including Wynn Resorts and Gap.

"There was indeed a lot of encouraging news this morning, even if it was overshadowed by the pessimistic headlines from the UK," Vital Knowledge's Adam Krisa Flynn wrote in a report to clients.