Morning wrap (26.10.2020)

6:37 AM October 26, 2020
  • Stocks in Asia are trading lower at the start of a new week. Nikkei drops 0.1%, S&P/ASX 200 trades 0.2% lower and Kospi declines 0.7%. Most indices from China trade lower as well

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

  • Daily coronavirus case count has almost reached half a million on Friday. France is readying new restrictions. Spain imposed night time curfew. Italy and Spain have hit record case numbers over the weekend. New outbreak has been registered in China as well

  • 5 members of Vice President Pence team tested positive for the coronavirus

  • Some media report that Boris Johnson plans to wait with decision on no-deal Brexit until after US elections as Trump's victory could encourage him to take tougher stance with the European Union

  • AstraZeneca resumed coronavirus vaccine trial over the weekend. Johnson & Johnson plans to resume trials on Tuesday

  • Negotiations on the US stimulus bill continue with little progress

  • Tropical storm Zeta is approaching the US Gulf area. It is expected to strengthen to hurricane later today. Possible impact on oil prices

  • Global Times reports that China is preparing law that will lay ground for legal, digital yuan

  • Oil is pulling back as Libya continues to ramp up production. Gold gains while platinum and silver lag.

  • NZD and USD are top moving major currencies while JPY and GBP lag the most. USDTRY jumped above 8.00 for the first time in history

Daily coronavirus case count almost reached half a million on Friday. Source: worldometers, XTB

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