Morning Wrap (25.11.2020)

7:29 AM 25 November 2020
  • US indices rallied yesterday. Dow Jones and S&P 500 closed at record highs, gaining 1.54% and 1.62% respectively. Nasdaq added 1.31% while Russell 2000 closed 1.83% higher

  • Asian session was mixed - indices in Japan and Australia gained while South Korean and Chinese equities dropped

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

  • Total number of confirmed coronavirus cases crossed 60 million yesterday. A record daily death toll was also reported - 11,720

  • Bank of England Governor Bailey said that no-deal Brexit will have bigger negative impact on the UK economy than coronavirus pandemic

  • Chinese coronavirus vaccine is expected to get approved by the end of the year

  • Financial Times reports that Reserve Bank of New Zealand may reimpose limits on lending amid overheating housing market

  • API report on oil inventories signalled 3.8 million barrell build (exp. -0.35 mb)

  • Australian construction work done dropped 2.8% QoQ in Q3 (exp. -2% QoQ)

  • WTI price climbed above $45 per barrel for the first time since early March

  • EUR and USD are top moving major currencies while AUD and CAD lag the most

Over 540,000 new coronavirus cases were reported yesterday. Total case count exceeded 60 million. Source: worldometers, XTB

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