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Bounce back after Omicron scare

Bounce back after Omicron scare

UK economy almost flatlined in October, adding to rate hike doubts.

  • #Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant's impact on global economic growth and fuel demand.
  • Britain's economy barely grew in October, even before the emergence of the #Omicron coronavirus variant, further denting expectations that the Bank of England will raise interest rates next week.
  • The dollar rose as traders prepared for U.S. inflation figures scheduled later in the day that could cement the course of interest rate rises next year, while the Chinese yuan regained its footing.

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