This is what you need to know to trade today Monday, November 16:
The market mood is optimistic on news of Moderna’s vaccine, and the United States appears to be making progress since the election. A broad Asian trade deal and upbeat Chinese data are also driving the moment. The Brexit talks are reaching another crucial moment as the prime minister finds himself isolated again.
Coronavirus: Markets are turning to hope that Moderna will join Pfizer and announce optimistic results on its COVID-19 vaccine. Optimism is driving stocks as the dollar falls across the board. AstraZeneca and Johnson & Johnson are also conducting late-stage trials.
Investors appear to be ignoring concerns about the spread of the disease in the Northern Hemisphere, and especially in the United States. Hospitals in various states have reached their capacity limits.
American politics: President-elect Joe Biden clarified that he does not intend to impose a nationwide lockdown as he prepares to take office. The Democrat is ready to announce new roles in his administration, including that of Secretary of the Treasury.
President Donald Trump appeared to acknowledge Biden’s victory before backtracking. The count in Georgia is scheduled to end in the next few days and the outcome is unlikely to change. Other senior Republicans have urged him to allow a smoother transition and the markets are focused on the second round elections that will determine control of the Senate.
The Chinese industrial production exceeded estimates with an annual increase of 6.9% in October, while retail sales disappointed with 4.3%. China, Japan and 13 other countries in Asia and the Pacific signed the Regional Comprehensive Economic Partnership (RCEP) that gradually removes trade barriers.
United Kingdom: Prime Minister Boris Johnson is in isolation after coming into contact with an MP who tested positive for coronavirus. Downing Street has reported no symptoms and Johnson continues to work.
The Brexit negotiations continue and both sides intend to reach an agreement on Thursday when EU leaders meet. Some hope for breakthroughs after Biden’s election and the departure of Dominic Cummings, a senior Johnson adviser who was the architect of the campaign for the vote to leave the EU.
Christine Lagarde, President of the European Central Bank, and Richard Clarida, Vice President of the Federal Reserve, will speak at the end of the day.
The oro It has been going up, but the XAU / USD is still trading below the $ 1,900 level.
The Bitcoin it is trading above $ 16,000 again, resuming its gains after consolidating beforehand.
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