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  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:https://t.co/dlNXOrJnM9 https://t.co/LCQd26W1zF
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB https://t.co/N4EDfwD3nZ
  • $USDJPY bull thesis appears quite constructive. Technicals show topside breakout above trend resistance following a period of consolidation. Bond yields providing the fundamental catalyst. Eyes on Aug/YTD highs. A broad-based deterioration in market sentiment poses downside risk. https://t.co/AazskXGjHq
  • WTI posting another session of strong gains, currently flirting with the 74 handle $CL #Oil #OOTT https://t.co/oYnm2OYRky
  • The New Zealand Dollar’s bullish breakout attempt in early-September was rebuffed. Price action at the end of the month is telling a different story. Get your market update from @CVecchioFX here:https://t.co/AquMSrssne https://t.co/DtFuFfrS7Q
  • So much for that Evergrande recovery. Shares of the troubled Chinese property developer are down approximately -12% today following yesterday's impressive rally (biggest in a year) https://t.co/Nome25d9Bt
  • Retail trading platform Robinhood announces hire of new Chief Compliance Officer amid regulatory scrutiny
  • There is a ridiculous number of scheduled Fed speeches on the docket next week. Powell specifically will be speaking multiple times including at an ECB hosted forum on central banking (which also has a panel with Fed, ECB, BOE and BOJ heads)
  • USD Ascending Triangle, Bullish for Q4 - #DXY chart on @TradingView https://t.co/iCnRSo9N4V
  • Credit rating agency Standard & Poor's is due to give its sovereign credit rating update on Germany today ahead of weekend national elections
Equity Markets Rally After US Biotech Company Moderna Announces Successful Covid-19 Vaccine Trial Results

Equity Markets Rally After US Biotech Company Moderna Announces Successful Covid-19 Vaccine Trial Results

Nick Cawley, Strategist

Covid-19 Vaccine 95% Effective – Risk Markets Rally

  • Moderna’s vaccine nearly 95% effective
  • Drug easier to store and distribute than the Pfizer vaccine.
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US drug company Moderna (MRNA) has said that its Covid-19 vaccine is 94.5% effective based on clinical trial data. The company also said that the vaccine could be stored at standard refrigerator temperatures for up to one month or at -20 degrees Celsius for up to six months. This compares to Pfizer’s vaccine – announced last Monday - that lasts for 5 days at standard refrigerator temperature and needs to be stored at -70 degrees Celsius for longer time frames. This makes the storage and distribution of Moderna’s vaccine easier.

Global indices jumped higher on the news in what had been a quiet Monday morning session.

Equity Markets Rally After US Biotech Company Moderna Announces Successful Covid-19 Vaccine Trial Results

Traders of all levels and abilities will find something to help them make more informed decisions in the new and improved DailyFX Trading Education Centre

What is your view on Equities – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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