MARKET UPDATE: Austria confirms reports of a 20-day hard lockdown and German Officials becoming more downbeat

Reaction details (09:35)

In immediate reaction to the news that Austria is, in-line with earlier reports, to enter a 20-day lockdown from Monday (will be reviewed in 10-days) risk-off sentiment was seen across the board, but particularly in FX and fixed income:

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  UST Dec'21 rose from 130.17 to a session and fresh WTD high of 130.27


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  Bund Dec'21 spiked from 171.10 to a session and fresh WTD high of 171.88


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  EUR/CHF dropped from 1.0510 to 1.0470 and USD/JPY from 114.40 to a test of 114.00; additionally, this propelled the DXY back above the 96.00 handle to a peak of 96.050. EUR/USD dropped below 1.1300.

Additionally, WTI/Brent Jan'22 benchmarks and the equity space, particularly Europe, came under pronounced pressure; European benchmarks erased their gains for the session and now reside in negative territory. 

19 Nov 2021 - 09:35- Important- Source: Newsquawk