Morning wrap (24.11.2020)

• US indices finished yesterday's trading higher. S&P 500 gained 0.56%, Dow Jones added 1.12% and Nasdaq closed 0.22% higher. Russell 2000 gained 1.89%

• Stocks in Asia gained as well. Nikkei surged 2.5%, S&P/ASX 200 jumped 1.2% and Kospi moved 0.6% higher. Indices from China decline

• DAX futures point to a higher opening of the European session

• Equities caught a bid overnight after Trump recommended the General Services Administration to begin transition to the Biden presidency. However, Trump also said he will never concede and that elections were corrupt

• New Zealand government mulls adding house price stability to RBNZ mandate

• According to preliminary release, Australian exports rose 6% MoM in October while imports increased 8% MoM

• Reports surfaced saying that Joe Biden may pick former Fed chief Janet Yellen for Treasury Secretary

• United Kingdom is said to be considering more actions against Huawei

• Gold continued to move lower throughout Asian session and reached the lowest level since late-July

• Brent price reached the highest level since the beginning of March

• NZD is a top gaining major currency today, followed by AUD and CAD. USD is top laggard along with CHF and JPY

504 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB