Morning wrap (02.12.2020)

7:35 AM 2 December 2020
  • US indices finished yesterday's session higher. S&P 500 gained 1.13%, Nasdaq jumped 1.28%, Dow Jones added 0.63% and Russell 2000 closed 0.89% higher

  • Mixed moods can be spotted on the Asian stock exchanges. Nikkei and S&P/ASX 200 finished flat, Kospi gained 1.6% and indices from China traded slightly above yesterday's closing prices

  • DAX futures point to a slightly lower opening of the European session

  • According to New York Times report, Joe Biden will not walk away from Phase 1 trade deal immediately after taking office

  • Moderna has filed for EU approval of its vaccine. UK Telegraph reports that UK wants to be ready to distribute vaccine by the weekend. Shipments of Pfizer vaccine will be delivered to the United States by December 15

  • Australian GDP grew by 3.3% QoQ in Q3 2020 (exp. +2.5% QoQ)

  • According to Reuters poll, 35% of analysts expect no EU-UK deal, down from 40% in November

  • There is growing expectation that OPEC+ will agree to a short extension to output cuts

  • Precious metals pull back. Oil is also trading a touch lower

  • EUR remains top performing major currency after EURUSD broke above 1.20 handle yesterday. JPY, CHF and GBP are top laggards. EM currencies trade lower against US dollar

Pandemic situation. Source: worldometers, XTB

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