Fears of the spread of the delta variant of the coronavirus in many countries have caused uncertainty in the currency and commodity markets. Investors moved their money from the stock market to the bond market. Bunds were particularly popular. This temporarily pushed the yield on 10-year inflation-protected stocks to a two-year low of minus 1.686%. The yield on ten-year US Treasuries fell to 1.174%. The euro also suffered from growing uncertainty over the krone and was traded at 1.1793 (Friday: 1.1805) dollars in the evening. In England, almost all pandemic restrictions were lifted earlier this week. The British pound nonetheless lost as much as 0.6% to a three-month low at $ 1.3656. Investors feared the government, as in the Netherlands, would be forced to reverse the current easing due to the growing number of cases, analysts at ANZ Bank wrote.
Bitcoin and Ethereum were unable to break out of their current trading range. The rates of the two cryptocurrencies fell as much as four percent to $ 30,760 and $ 1,822, respectively. “The Chinese government’s harsh crackdown always has an impact,” said analyst Timo Emden of Emden Research.
The price of oil has also fallen sharply. The North Sea Brent variety fell eight percent to $ 66.07 per barrel (159 liters). In addition to possible weak demand due to further lockdowns, the prospect of a growing supply on prices is a burden, said Neil Wilson, chief analyst at online broker Markets.com. Opec +, which brings together members of the export cartel and other producing countries like Russia, agreed to increase production volumes this weekend.