07.12. Oil and dollar rising amid easing Omicron concerns; Evergrande missed out on interest payments

News for today, December 7:

The U.S. dollar gained support on Tuesday against safe-haven currencies such as the Japanese yen. This was prompted by a jump in U.S. yields and the hope that the consequences of the Omicron variant would be less significant than first expected. Asian stocks also rebounded on Tuesday amid easing concerns over the impact of Omicron, while Chinese markets were supported by monetary easing by the central bank.

Sources revealed that some holders of China Evergrande Group's offshore bonds did not receive coupon payments by the end of the 30-day grace period on Monday New York time. Failure to pay $ 82.5 million in interest payments due last month could be a developer's first offshore default on public bonds.

Oil prices increased on Tuesday after rising nearly 5% the day before as concerns over volatility in global fuel demand eased and talks over Iran's nuclear program were stalled, delaying the resumption of Iranian crude supplies. The price of Brent crude is $ 74.26 per barrel, WTI — $ 70.74. EUR/USD is at 1.1284, GBP/USD — 1.3271, gold is at $ 1,781.89 per ounce.­­­­