Archives of “November 26, 2020” day

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AstraZeneca likely to conduct additional trial of covid vaccine

  
  Analysis

CEO on the vaccine

In an interview with Bloomberg, AstraZeneca’s CEO said the company is likely to run another global vaccine trial. This one will be faster and need a lower number of patients. Importantly, he also doesn’t expect it to hold up UK and European approvals.
The full data on its earlier study hasn’t been released and they’ve been accused of cherry-picking some data to highlight a small segment that hit 90% effectiveness. This comment suggests that some of those concerns are real and that the company needs more data.
Shares of the company are down 1.1%.

The US is on holiday but there is some Canadian news to come

  
  Analysis

It’s not a holiday in Canada

Thanksgiving will make for a quiet market but there will be a few headlines to keep things moving.
I’ll be watching out for signs that Barnier is going to travel to London. That will be a tell that the EU thinks a deal can be done on the weekend.
Virus news will also be in the mix. There might be some Canadian average weekly earnings data at the bottom of the hour as well.
In terms of data, it’s quiet but the BOC’s Macklem and Wilkins will appear at a parliamentary committee at 2030 GMT(3:30 pm ET).

ECB minutes: It was cautioned that governing council should not pre-commit to specific policy actions

  
  Analysis

The minutes from the ECB October policy meeting

  • Policymakers see possibility that pandemic might have longer-lasting effects
  • That will take a toll on demand side, supply side, reducing growth potential
  • It was stressed that any sign of complacency could be detrimental
  • Full account
The thing to note from this is that policymakers see the flexibility from PEPP was essential to its continued success and that they wanted to wait for a fiscal response before reacting instead. Adding that more bond-buying may not have the same impact now.
In summary, the governing council definitely looks to be favouring the use of PEPP and there really isn’t anything else that hasn’t been said already recently.

Bitcoin over $19,000! Ethereum and Litecoin record fresh 2020 highs

  
Analysis, BITCOIN

New highs for cryptocurrencies

PB
Ethereum and Litecoin prices peaked at new highs as public interest in cryptocurrencies continues to soar. These digital coins joined Bitcoin’s surge towards $19,000 in the recent strong trends.

Ethereum hit $623 this week. It’s up by a massive 384% since the beginning of the year. The uptrend is impressive, but it’s still far from the all-time high of $1500 in January 2018. Ethereum is the world’s second-largest cryptocurrency next to Bitcoin. Litecoin also doubled in value this month alone and peaked today at $90, a fresh 2020 high with a 117% YTD gain.

According to analysts, the crypto surges are due mainly to the strengthening status of Bitcoin as an inflation hedge. Bitcoin, the known king of crypto, is up by 160% this year to date. It’s trading at $19,285 as of writing and is a thread line away from the all-time high of $19,667 last 2017.

PB2Bitcoin nears all-time high at $19,667, PrimeBit WebTrader (more…)

InteractiveCrypto fast becoming traders favourite crypto news platform

  
  Analysis

A look at what InteractiveCrypto can offer you

IC
Launched in 2017, InteractiveCrypto is fast becoming the leading cryptocurrency platform. The site offers the latest crypto news, educational articles and guides, in-depth studies, expert opinions, information on trading and the best brokers for cryptocurrency trading, along with digital wallets.

All the cryptocurrency information and news offered on the InteractiveCrypto platform is based on comprehensive market research, so visitors gain access to accurate and recent information from the crypto space. The latest market updates are also available via a mobile application, compatible with both iOS and Android.

A Platform for All Levels and Interest of Investors (more…)

Germany reports 22,268 new coronavirus cases in latest update today

  
Analysis, COVID-19

Another 389 deaths reported as well, taking the tally over the past three days to over 1,000 persons

Germany
The figures so far this week are similar to that over the past two to three weeks, so there is little sign that the virus situation is abating. And the rise in the death count is not exactly good news with the two worst days of the pandemic now seen back-to-back.
However, at least for now, the daily case count is still somewhat plateauing.
In terms of healthcare capacity, there were 3,781 (+11) virus patients requiring intensive care as of yesterday with there still being 5,775 (21%) intensive care units available.
As for the government reaction to all of this, we already saw an announcement yesterday to extend ‘lockdown light’ until 20 December.

Nikkei 225 closes higher by 0.91% at 26,537.31

  
Analysis, Global Indices

Asian equities mostly keep a little higher on the day

A solid close once again for Japanese stocks, with the Hang Seng seen up 0.2% and the Shanghai Composite up by 0.1% ahead of the closing stages.
With Wall Street set for a break over the next two days (partial holiday tomorrow), it may be tough to really get much of a read from the risk mood barring any major headlines to cross the wires ahead of the weekend.
Back to the Nikkei, November has been a monstrous month with gains of over 15%:
Nikkei 26-11

China state media warn Biden of tensions and turbulence re Taiwan clarity

  
  Analysis

Here is an interesting read from the Global Times reflecting China’s view on US defense of Tawian.

And a warning for incoming US President Biden:
  • Since taking office in 2017, Trump has regarded China as the US’ strategic competitor and fully used the Taiwan card to suppress the mainland.
  • If the Biden administration moves from the policy of “strategic ambiguity” to “strategic clarity” and unilaterally expresses its clear assistance in defending Taiwan, it will undoubtedly create major tensions and turbulence across the Taiwan Straits.

And it gets worse from there, with plenty of threats.

Here is an interesting read from the Global Times reflecting China's view on US defense of Tawian.
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