Morning wrap (30.11.2020)

• Stocks in Asia are trading mostly lower. Nikkei drops 0.7%, S&P/ASX 200 declines 1.2% and Kospi trades 0.9% lower. Indices from China gain

• DAX futures are pointing to a lower opening of the European cash session

• Reuters and UK Times reported that European Commission President von der Leyen is expected to speak with the UK Prime Minister Johnson to find common ground on fisheries

• Trump is set to add semiconductor manufacturer SMIC and oil company CNOOC to black list of Chinese companies

• Financial Times reports that the United Kingdom may start coronavirus vaccination next week

• OPEC+ countries failed to reach agreement on output cut extension yesterday but talks will continue this week

• Bitcoin regain ground over the weekend following reports that Guggenheim Macro Opportunities Fund may invest up to 10% of its assets into bitcoin (around $500 million)

• UK banned new installations of Huawei 5G equipment starting from September 2021. All Huawei 5G equipment should be removed from the network by 2027

• Japanese retail sales increased 6.4% YoY in October, in-line with expectations

• Japanese industrial production increased 3.8% MoM in October (exp. 2.3% MoM)

• Official Chinese manufacturing PMI for November came in at 52.1 (exp. 51.5) while non-manufacturing index was reported at 56.4 (exp. 56)

• Declines can be spotted on the commodities market. Oil pulls back along with precious metals

• GBP and JPY are the best performing major currencies while NZD and CAD lag the most

A regular weekend dip in new coronavirus cases could be observed over the past few days. Source: worldometers, XTB