Economic calendar: Focus on new virus variant response

• New virus variant dents risk moods

• DAX futures point to an over 400-point bearish gap at cash session launch

• Wall Street session to end at 6:00 pm GMT

Asian equities plunged today as a new South African coronavirus variant spooked investors and forced them to trim risk bets. Some indices, like the Japanese Nikkei, plunged as much as 2.5%. Picture ahead of the European cash session open isn't bright either with DAX futures trading 400 points below yesterday's cash close. Brent and WTI erased all of the gains made since the SPR release announcement earlier this week. Safe haven currencies like CHF and JPY are dominating on the FX front.

There are no major economic data releases scheduled for today. However, the situation relating to the new Covid variant is likely to keep markets moving throughout the day. Investors should focus on announcements of any actions taken by governments. Singapore has already banned visitors from South Africa and media reports suggest Japan is mulling the same move.

Last but not least, traders should not forget about the long Thanksgiving weekend in the United States. There will be Wall Street session today but it will end sooner at 6:00 pm GMT.

Central bankers' speeches

• 8:00 am GMT - ECB President Lagarde

• 8:30 am GMT - ECB Schnabel

• 1:00 pm GMT - BoE Pill

• 1:30 pm GMT - ECB Lane

Change in trading hours due to US early close (Thanksgiving long weekend)

• Trading until 2:30 pm GMT - VOLX

• Trading between 2:35 pm and 6:05 pm GMT - CORN, SOYBEAN, WHEAT

• Trading until 6:15 pm GMT - US30, US100, US500, US2000, US30, TNOTE, USDIDX

• Trading until 6:45 pm GMT - GOLD, SILVER, PLATINIUM, PALLADIUM, OIL.WTI, NATGAS

• Trading until 8:00 pm GMT - OIL