Moderna reaffirms that its vaccine is 94.1% effective in primary analysis Vaccine was 94.1% effective in analysis of Phase 3 study, after 196 virus cases Vaccine was 100% effective against severe virus cases in trial No new serious safety concerns identified since 16 November trial To apply for US emergency-use authorisation today To apply for
Month: November 2020
A surge in COVID-19 cases in the winter season will not derail the oil market rebalancing driven mainly by vaccine progress, Goldman Sachs said in a note, adding that it sees a further upside in Brent to $65 per barrel through 2021. The bank, however, said it expects the winter wave to hit global oil
After some big moves in November, we believe the RBA will stay put at this week’s meeting. Given the good news about vaccine and the steady decline in the country’s coronavirus cases and, we do not feel surprise if the members turn more upbeat this month. Economic data released since the last meeting suggested continued
EUR/USD remains bid and approaches the 1.20 mark. Further upside now looks to the YTD tops near 1.2020. EUR/USD extends the upside for yet another session and gradually moves closer to the psychological hurdle at 1.20 the figure . The continuation of the bull run initially targets the 1.20 mark. Further north comes in the
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The price of Bitcoin has reached a two-year high of more than $19,000 and fallen below $17,000 more than once in the span of a week as mining difficulty continues to rise. According to on-chain analytics provider Glassnode, Bitcoin (BTC) mining difficulty increased by 8.9% today, putting the metric within 5% of its all-time high
Gold edged down on Friday, on path for its worst weekly decline in two months, as hopes for a virus vaccine and a rebound in economic growth dulled demand for the safe-haven asset. Spot gold fell 0.3% to $1,805.41 per ounce by 1233 GMT, down 3.5% on the week so far, which could be it’s
USD/CAD remains on the back foot near the monthly low. Weak RSI conditions can trigger bounce off falling wedge support. 200-HMA offers an additional filter to the upside past-bullish pattern. USD/CAD drops to 1.2978, down 0.10% intraday, during the early Monday morning in Asia. In doing so, the pair declines for the second day while
The UK Times reports over the weekend that the Commission has begun to “lean on” EU negotiator Michel Barnier to get a trade deal with the UK. and that UK Prime Minister Johnson was expected to speak to EU Commission President Ursula von der Leyen in the next 48 hours to try to find common
VIENNA: The OPEC oil producers’ club and its allies will hold a virtual meeting on Monday and Tuesday to finalise an expected extension to production cuts as the coronavirus pandemic continues to weigh on global demand. The meeting comes as the oil industry hopes to turn a page on a disastrous year which saw the
Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near term resistance level while Gold is set to break through 1800 psychological support with next
Last week’s sell-off in gold, which ensued after a breach of the long-term strong support at $1850, raised doubts whether the bull market is nearing an end. Still holding an upbeat outlook on the yellow metal, TD Securities (TDS) Commodity Strategist Daniel Ghali explained that the drivers that pushed gold to new highs back in
So report the Financial Times, saying the drug regulator in the country is set to grant approval within days. (FT may be gated.) Deliveries of the vaccine developed by BioNTech and Pfizer would begin within hours of the authorisation first injections could take place from December 7. UK has ordered 40m doses of the two-shot product,
Based on the fractal, Bitcoin is in an early phase of a prolonged rally that could allow BTC to experience exponential growth in the longer term. Bitcoin versus gold price fractal. Source: Bloomberg Bitcoin may be on the same trajectory as gold There are two main reasons why Bitcoin could follow the macro trend gold
MOSCOW/DUBAI – A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Sunday – a day later than scheduled – prior to meetings planned for next week, a source with the knowledge of the matter told Reuters. The talks had initially been scheduled for Saturday, according to a
Vaccine optimism pushed global stocks higher last week, with Nikkei completing the most impressive rally. Commodity currencies ended generally higher as led by New Zealand Dollar. Yen and Dollar ended as the worst performing ones. Though, no key levels were taken out, except in NZD/USD and NZD/JPY. Dollar index is also holding on to an
GBP/JPY’s reversal from 140.00 area extends to 138.35. Brexit uncertainty and Scotland’s referendum hurt the pound. GBP/JPY eroding trendline support at 138.40. The sterling is trading lower against the Japanese yen for the second consecutive day, giving away most of the ground taken earlier this week. Pound’s reversal from intra-week highs right below 140.00 has
Forex news for North American trading on October 27, 2020 The dollar slumped marginally in post-Turkey day hangover trading. There was no economic data, but stocks did rise with both the S&P and Nasdaq index closing higher and a record levels (flow out of the safety of the greenback?). Hopes for Covid vaccines may also
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