Economy

Global markets focus on busy data agenda

Euro area preliminary inflation data for November, Turkey's Q3 growth figure to be followed on Tuesday

Belgin Yakisan Mutlu   | 30.11.2021
Global markets focus on busy data agenda

ISTANBUL

Markets on Tuesday focused on the euro area preliminary inflation data for November and Turkey's third quarter growth figure.

The global stocks market followed a mixed course on Monday with concern over the new omicron coronavirus variant.

The omicron variant of the coronavirus poses a "very high" risk globally, the World Health Organization warned Monday at a special session.

WHO Director-General Tedros Ghebreyesus said: "The emergence of the highly mutated omicron variant underlines just how perilous and precarious our situation is.”

G7 health ministers also urged for "urgent action" against the omicron variant.

US President Joe Biden said the country will see cases of the COVID-19 variant "sooner or later," but this is no reason to panic. His statement calmed the markets.

Analysts noted that concerns over the omicron variant, which have once again led to travel restrictions and may bring about border closures, increase risks regarding the global economy.

However, the perception that existing vaccines are also effective against the new variant ensures that optimism is maintained in the market.

Analysts underlined that news about the omicron variant will continue to affect the direction of the stock markets, while focusing on the statements of US Fed Chair Jerome Powell and Secretary of Treasury Janet Yellen, the US consumer confidence index, and the inflation data in the euro area.

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