Analysis: Oil is going to make a weekly profit, offsetting fears over the Omicron variance and lifting many travel restrictions initially imposed upon availability. As we enter the Christmas break, Brent’s contract for the previous month is trading at over $ 76 a barrel, and we are heading for more than 3.50% profit this week. The contract is subject to some technical objections at 100 DMA at $ 77.05 per barrel, but this level could be given next week because of a slight variability in thin liquid levels. A break above 100 DMA opens the door to test for 50 DMA per barrel at $ 79.12 per barrel, a level that has not been seen since the end of November. A.D. By 2022, the oil vision is still fair. As economies continue to recover, demand will continue to grow, which will help offset growing supply. The market is expected to shift to structural profits by early 2022, but improving China’s demand to support its economy and easing Europe’s continued energy crisis will lead to inflation until the new year. OPEC is also pushing for oil prices to reach $ 70 a barrel or more, a key factor in Saudi Arabia’s ability to maintain its budget deficit this year.
As this is the last morning of the year, we wish all readers and subscribers a happy holiday season with family and friends. Thank you all for your practice; Please live in peace and be thankful for what we still have.
During the last trading session of the week, most businesses and companies are on the verge of moving into the skeleton for next week’s “holiday” week. USD-ZAR finally hit 15,6600 support, which opened the door for a more meaningful appreciation move. The incentive in the USD and the profit on Wall Street have set new record levels. The risk of food cravings has greatly improved, and the desire to move to safer places has disappeared.
It’s been a solid three weeks for ZAR, and with all the chances. There were many reasons for us to be discouraged at ZAR, from the Omicron difference to travel bans, SA’s slow economy and weak fiscal position, the federation’s darker position. However, ZAR appreciated the release of most of its initial sales, which began in November. At this point, indicators suggest that the market could fall further.
A.D. Expected to be 2022 and COVID-19 hazards appear to be declining, hospital stays and mortality rates will be very low to ensure an emergency. The incidence of covarial infections is declining sharply, and SA is now declining in Gauteng. Nationally, hospital stays are lower than previous waves, at about 50% of the previous peak. This reduces the risk of complications such as sudden hospital congestion that could lead to a holiday season. If hospitals eventually release, the government may push for more sanctions.
A recent study by UKZN and WITS found that the risk of hospitalization was significantly lower, noting that R-0 (exposure rate for infected people) dropped below 1 in SA. This is somewhat controversial and may lead to controversy as it challenges the belief that Omicron is highly transmitted. At least in young and early South Africans. However, the researchers also said that “… it is difficult to rule out the relative contribution of low-grade immunosuppressive and low-dose immunosuppressive drugs to the former.” SA is relatively low, but immunization rates are rising.
All of this may be due to the fact that SA may have become too close or may have reached a state of immunity, which would have supported the continued relaxation of legal and social restrictions on the movement of people. Despite many challenges, SA can eventually help young people return to business with a higher level of immunity. This is a very strong reason for the SA economy at a time when businesses are being hit by both social and legal restrictions and helping to boost the economy in the new year. However, given the extent to which the epidemic is changing economic structures and levels of demand, full recovery may still take some time.
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