Markets have been mixed so far today, as optimism surrounding the latest vaccine news yields to fears for the immediate future due to lengthy lockdowns. Governments have resorted to partial shutdowns throughout the world to combat the recent surge in coronavirus cases, and while there has been some success in reducing the rate of infections, it has come at a high economic cost.
Pfizer/BioNTech vaccine team they have enough safety data to advance their vaccine candidate to the U.S FDA for emergency use approval within days. Further information from Moderna and other companies is awaited.
USD/JPY pair extended its sideways consolidative price action below the 104.00 mark. GBP/USD pair was last seen at 1.3238, as the dollar gathered some late traction. EUR/USD pair is trading at mid-1.18s as the risk mood remains more guarded and cautious.
Oil prices edged lower Thursday, consolidating after climbing to their highest levels since early September during the previous session after a smaller-than-expected build in U.S. stockpiles.
Gold was down on Thursday amid vaccine progress and a stronger dollar. The precious metal last traded near $1,860 per oz.
Looking forward, ECB Lagarde’s speech at 08:00 GMT and broader market sentiment will be in focus in the session ahead. EU leaders are set to hold a video conference later Thursday to address the holdup in the release of pandemic relief and budget funds, which are vital given the escalating health crisis and risk of a double-dip recession.
The US economic docket features the releases of Philly Fed Manufacturing Index and Initial Weekly Jobless Claims. Traders will further take cues from developments surrounding the coronavirus saga and the broader market risk sentiment.
Markets Mixed As Vaccine Optimism Shrinks – US Jobless Claims Ahead
Published on 2020-11-19 09:21
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