This is what you need to know to trade today Thursday, November 12:
The market mood has turned sour, with stocks under pressure and the dollar rising. Concerns about the spread of the virus outweigh hopes for a vaccine. Weekly US inflation and unemployment data, and appearances by Jereme Powell, Christine Lagarde and Andrew Bailey are on the horizon.
The cases of coronavirus in the US they have reached a record high of 144,000 and hospitalizations exceeded 65,000 for the first time. Deaths are also on the rise as the winter wave worsens. Germany’s number of cases has stabilized, but mortality is increasing, while Italy is under pressure to impose a national lockdown.
Vaccine: Moderna may join Pfizer in announcing the interim results of its phase 3 trial of the coronavirus vaccine, perhaps next week. Leading US epidemiologist Anthony Fauci said he would be surprised if Moderna does not report the success of its vaccine, as both companies use the same mRNA technology. Earlier in the week, Pfizer announced a 90% efficiency. AstraZeneca and Johnson & Johnson also follow the same approach.
Elections in the United States: President-elect Joe Biden continues to work on his transition, announcing his appointment as Chief of Staff. President Donald Trump refuses to admit that he tweeted “we’re going to win.” Georgia will begin a manual recount, but experts don’t expect Biden’s leadership to change there. The Democrat is also ahead in several other states as the recount continues.
Investors and politicians in Washington are focused on both Senate runoff elections in Georgia in early January, as they will determine the control of the upper house.
BrexiNegotiators from the EU and the UK will not meet the self-imposed deadline of November 15 and hope to reach an agreement next week. Fishing, state aid and trade in Ireland remain thorny issues.
United Kingdom: The Gross Domestic Product grew 15.5% in the third quarter, slightly below estimates. Britain is confined and, although the case curve is flattening, deaths have reached the grim milestone of 50,000.
The figures for the United States Consumer Price Index October show relatively moderate inflation, in line with the trend of previous months. Weekly jobless claims carry expectations of another drop.
The President of the European Central Bank, Christine Lagardewill host the Chairman of the Federal Reserve, Jerome Powel, and the Governor of the Bank of England, Andrew Bailey, at an ECB forum. Comments on additional stimulus can shake markets.
The cryptocurrencies They have resumed their gains, with Bitcoin approaching the $ 16,000 level and Ethereum holding on to higher ground.
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Credits: Forex Street
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