Market Brief, Monday, 14th of September, 2020
The major stock market indices started the week on the front foot as hopes over a vaccine underpinned sentiment. The ASX is up by 0.5% and the Nikkei 0.7% while in China the Hang Seng and Shanghai composite is up by 0.5 and 0.6% respectively.
AstraZeneca and the University of Oxford have resumed their coronavirus vaccine trials after UK regulators concluded that the trials were safe to continue. This comes following a pause in the trials after a person who received the treatment had an unexplained illness.
In the UK a new wave of confrontations within senior Tories and PM Johnson is taking place over the Internal Market Bill despite the latter’s warning that Brussels will ‘carve up the country’ without it.
In the forex space, the dollar index is rangebound and currently trading around the 93.30 level with the dollars major counterparts the EURUSD and GBPUSD trading around the 1.1850 and 1.2820 levels.
WTI and Brent consolidated after last week's weakness on demand fears and are currently trading within last week's range at 37.50 and 39.90 respectively.
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