The market mood is mixed as rising US coronavirus figures counter vaccine hopes. Brexit talks have yet to yield a breakthrough while the US jobless claims and another speech by the ECB’s Lagarde are eyed.
US coronavirus deaths have hit the grim milestone of 250,000 and hospitalizations have hit a new high above 79,000. In Europe, German coronavirus infections and deaths remain elevated, but France is beginning to bend the case curve. Japan is also suffering an increase in cases.
Pfizer and BioNTech reported efficacy of 95% in their updated vaccine candidate figures, ahead of asking for emergency use authorization. The latest report also shows immunization is sustained in high-risk patients. Further information from Moderna and other companies is awaited.
EUR/USD remained steady near 1.1850, USD/JPY trades at 103.87 as coronavirus developments in the US undermined demand for the greenback. GBP/USD remained pressured below 1.3250 amid Brexit jitters.
Oil prices are stable around $41 amid reports that the United Arab Emirates could leave OPEC amid a rift with Saudi Arabia. Gold once again witnessed a good two-way price action but remained trapped in the $20 range, well below $1,900.
In the EU session, ECB President Christine Lagarde’s speech at 08:00 GMT and broader market sentiment will be closely watched. The US economic docket features the releases of Philly Fed Manufacturing Index and Initial Weekly Jobless Claims, which might influence the USD price dynamics and produce some trading opportunities.
Markets Remained Mixed As Lockdown Concerns Dampen Mood – US Jobless Claims Eyed
Published on 2020-11-19 08:25
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