Morning wrap (30.11.2020)

7:30 AM 30 November 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

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