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A new Covid-19 mutation is threatening to suspend the world in coronavirus limbo. Countries including Britain and Singapore have imposed bans on travellers from South Africa and other nations where a concerning new variant has been detected. A highly infectious strain is a particular problem for economies with low vaccination rates. If it evades vaccines, another round of lockdowns could be on the cards at a time when governments and central banks have depleted firepower.

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Asian liquefied natural gas (LNG) prices inched lower this week on concerns over the potential impact of a new coronavirus variant, but were still supported by higher heating demand and tight shipping availability.

U.S. stocks tumbled on Friday as markets reopened after Thanksgiving, European shares were poised for their worst sell-off in a year and oil prices hit two-month lows as fears of a possibly vaccine-resistant coronavirus variant sent investors scurrying to safe-haven assets.

U.S. stock index futures slumped on Friday, with travel, bank and commodity-linked stocks bearing the brunt of a selloff triggered by the discovery of a new and possibly vaccine-resistant coronavirus variant.

Sterling briefly weakened below $1.33 on Friday for the first time since December 2020 as a new COVID-19 variant described as the most concerning yet hit sentiment in global markets.

Futures for Canada's energy-heavy main stock index tumbled on Friday, after oil prices hit a two-month low as a new coronavirus variant spooked investors.

The Ugandan shilling was firmer on Friday on the back of decelerating demand for dollars from players in various sectors including telecoms, manufacturing and energy.

Physical gold demand picked up in major Asian hubs this week helped by a retreat in prices, with dealers in India prepared for a likely spurt in buying as the wedding season gathers pace.

A look at the day ahead from Dhara Ranasinghe.