Moderna, BitCoin records, China, OPEC and India

Following Pfizer, another pharmaceutical company (Moderna) is filing for US vaccine registration. At the same time, the company noted that its vaccine is 100% effective in severe disease. United Airlines, meanwhile, transported the first shipment of Pfizer's Covid-19 vaccine from Brussels to Chicago O'Hare International Airport.

Against the background of this information, buyers of cryptocurrencies and Bitcoin in particular experienced another heightened optimism. This resulted in new all-time highs for Bitcoin. Despite the apparent madness of what is happening in general, it fits into the general outline of the behavior of financial markets in recent times.

China, as usual, added some optimism to the markets yesterday, when reported an increase in manufacturing activity in November, which became the ninth month of growth in a row. We are talking about the purchasing managers index in the manufacturing sector (PMI) for November (52.1 against the forecast of 51.5).

India tried to return the optimists to the ground. Its economy at the end of the third quarter (GDP decreased by 7.5%) confidently entered the stage of a technical recession.

On Monday, the UK and the European Union warned each other that time is running out for a Brexit trade deal. The funniest (or saddest) thing is that one of the key stumbling blocks - fishing - provided only 0.03% of the British economy in 2019. That is, Britain may fail the deal with the price of a trillion in trade turnover because of 0.03% of GDP. Since this is beyond common sense, we continue to believe that the sides will reach an agreement, which means that the pound will receive its injection of positive and a reason for growth, albeit short-term.

The OPEC meeting was unsuccessful yesterday and should continue today. Although some reports have postponed the talks until Thursday, as key players continue to disagree on how much oil they should pump amid weak demand due to the coronavirus pandemic. Sources said that Russia has offered OPEC + to start increasing production by 0.5 million barrels per day every month since January. Obviously, against the background of such information, oil can only be sold.
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