Sentiments are given a massive boost after Pfizer and BioNTech said today that their COVID-19 vaccine is now over 90% effective. The companies have began manufacturing the vaccine already, before knowing whether it would be effect, to save time to help fighting the pandemic that has plagued the world since February. They expect to produce up to 50 million doses to protect 25 million people this year. 1.3 billion doses of the vaccine are expected in 2021.
At the time of writing, DOW future is up nearly 1500 pts. 10-year yield is up 0.0982 at 0.913. FTSE is up 4.81%. DAX is up 5.49%. CAC is up 6.62%. Yen’s selling finally takes off, with AUD/JPY breaking a key near term resistance at 76.52, which indicates completion of the correction from 78.46. Retest of this high should be seen next.
