Archives of “September 4, 2020” day

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WHO: Not expecting to see widespread coronavirus vaccination until the middle of next year

  
  Analysis

Says want to see data from all different vaccines to get a clear idea of which are actually offering protection

It will be tough to imagine how this isn’t going to be politicised despite the Covax scheme. Plenty of countries have already done private deals with pharmaceutical firms and that is going to be how this all plays out surely.
As for the timeline, that is a hopeful one but I reckon the first signs of an actual breakthrough will surely be enough to give markets a shot in the arm – even if the vaccine isn’t exactly going to be made available to all corners of the world.

China’s exports likely kept solid momentum in August – Reuters poll

  
Analysis, Economy

Exports seen keeping pace after a solid July month

China
The Reuters poll on 23 economists show that China’s exports likely posted a second month of solid gains as more of its trading partners open up their respective economies amid the relaxing of coronavirus restrictions.
Estimates show that China’s August exports are to rise by 7.1% y/y, holding steady from the rise of 7.2% y/y from July. Meanwhile, imports are also seen improving to rise by 0.1% y/y, up from a drop of 1.4% y/y in July.
The official data is scheduled to be released some time next Monday.
For some context, the beat in exports data in July surpassed expectations handily and is giving hope that the economic recovery in China is picking up more significantly.
Despite that, China remains well behind their pledge in the Phase One trade deal as imports – particularly from the US – continue to lag. But hey, who is counting?

Nikkei 225 closes lower by 1.11% at 23,205.43

  
Analysis, Global Indices

Asian equities follow US stocks lower to end the week

Nikkei 04-09

It is a red day for Asian equities to end the week, with stocks following the sharp losses in US indices yesterday. The Nikkei ends the day down by a little over 1%, but it is actually up by 1.4% still in terms of weekly performance.

Elsewhere, the Hang Seng is down by 1.5% and the Shanghai Composite is down by 1.2% as the softer mood from US trading yesterday continues to reverberate.
US futures are also keeping lower on the day, though off earlier lows at least, as the market appears to be more tepid in anticipation of the US jobs report later.
Major currencies are little changed on the session amid tighter ranges. EUR/USD is stuck within a 19 pips range between 1.1839 and 1.1858 so far today.

Japan chief cabinet secretary Suga all but locked in to succeed Abe Shinzo as PM

  
  Analysis

Bloomberg with the report on Suga, judging him “all but assured to succeed ailing Prime Minister Shinzo Abe as premier later this month”.

Link here for more (article is mainly about Suga dealing with strained US-China relations and Japan’s place in them.
Meanwhile, Reuters have this on Suga’s budget intentions:
  • Suga signaled readiness to compile a third extra budget to respond to the COVID-19 pandemic if he succeeds outgoing Prime Minister Shinzo Abe
Bloomberg with the report on Suga, judging him "all but assured to succeed ailing Prime Minister Shinzo Abe as premier later this month".

AstraZeneca (coronavirus vaccine candidate) update – firm spends $60m to ensure production capacity

  
  Analysis

COVID-19 – some news from a couple of days ago, so its not ‘breaking’, just an update.

  • British drugmaker AstraZeneca to secure capacity to meet what could be a 3 billion-dose demand for its vaccine, AZD1222
  • will pay Oxford Biomedica an initial $20 million to reserve production capacity for at least 18 months
COVID-19 - some news from a couple of days ago, so its not 'breaking', just an update.
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