Trading Plan – Monday 9th November 2020: Markets soar on Pfizer vaccine news

Mark NugentNov 2020, Trading Plan

Trading Plan – Monday 9th November 2020: Markets soar on Pfizer vaccine news

At around 1130am GMT today Pfizer announced the results of a study showing its covid vaccine prevents 90% of infections. Global equity indices soared, making new all-time highs in the US and Japan. Oil moved up to recent highs and GOLD fell on the positive sentiment. In the currency markets, the positive sentiment is faithfully reflected in JPY weakness and strong commodity currencies (CAD, AUD and NZD).

The US media (as is, strangely, the way) announce that Biden has won the US Presidential election. Trump is yet to concede and continues to allege voter fraud.

Brexit talks continue in London all week.

It is a reasonably quiet week on the calendar. There is no central bank activity and few Tier I announcements.

As always, in the video, I discuss my trading themes for the week. If you’ve been paying attention you will know that one thing I will be looking closely at this evening is sentiment-driven forex moves, particularly with respect to the JPY and the commodity currencies.

I’ll be back on Wednesday with your mid-week look at the markets.

You can watch the video in the VIP Club members area HERE