CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Rising COVID-19 cases weigh on market sentiment

18:03 19 November 2020
  • AstraZeneca releases positive Phase 2 COVID-19 vaccine results
  • US COVID-19 death toll surpassed 250,000
  • US stocks swing between gains and losses
European indices finished today's session lower with the DAX 30 falling 0.7%, CAC 40 closed down 0.67% and FTSE100 finished 0.80% lower amid concerns over rising COVID-19 cases and new lockdowns across the globe. Yesterday Germany reported 22.801 new infections, one of the largest daily increases since March. Elsewhere, Russia is the fifth country with more than 2 million cases. Even positive news from Astra Zeneca failed to change the market sentiment. Company announced that early stage trial results showed its experimental vaccine against COVID-19 produced a strong immune response in older adults, who are the most vulnerable to the disease. Scientists are expecting to release late-stage trial results by Christmas. On the Brexit front, top European officials are meeting in Brussels and are expected to demand from the European Commission to launch an emergency no-deal plan if both sides fail to conclude a trade agreement by tomorrow.

US indices are trading mixed as soaring COVID-19 infections an unexpected rise in weekly jobless claims sparked fears of a slower-than-expected economic recovery. Yesterday US reported more than 173 768 new infections, which is the second-highest number since the pandemic began. Death toll from COVID-19 surpassed 250k on Wednesday. Also hospitalizations reached record number of 79 410.  Due to worsening pandemic situation all public schools in New York will be closed. Also new restrictions will be imposed in Kentucky, Minnesota and Wisconsin. On the data front, initial jobless claims rose for the first time since October to a higher-than-expected 742K.
 
US crude futures are trading 0.9% lower while the international benchmark Brent contract fell nearly 1.0% as concerns regarding near term fuel demand overshadowed positive news on the coronavirus vaccine front. Also recent information that Libya's National Oil Corporation and France's Total discussed NOC's efforts to raise capacity and increase production rates to the highest levels additionally weighed on market sentiment. Elsewhere, gold futures fell 0.5%  while silver futures dropped 1.6%.
GBPUSD – pair has been trading in an upward trend recently. However, price did not manage to break above the high from 11th November and a double top pattern may be on the cards. The 1.3100 handle is a key support for now. If sellers manage to break below, a bigger downward correction may start. On the other hand, bouncing off the support may trigger another upward impulse. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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