This is not the quiet session that traders were expecting as US exchanges are shut for Thanksgiving (and on Friday). Reports that a new delta variant in South Africa, which may be able to infect the vaccinated, took another turn for the worse when two cases of the strain were confirmed in Hong Kong. And the combination of a risk-off environment during low volume trade can become the perfect storm, as volatility can in fact be higher (as markets are less liquid there are fewer buyer and sellers to make fast and competitive transactions). We wait to see how traders in Europe react, but at the moment it is not looking like it will be a risk-on session.
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