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Week in a Glance: Trump, ECB, Brexit, Tesla and AstraZeneca

Short
FX:GBPUSD   British Pound / U.S. Dollar
The past week turned out to be quite eventful with all sorts of fundamental events. Starting with the next portion of threats from Trump, ending with the Brexit problems and the ECB meeting.

President Donald Trump said he is going to "end" US dependence on China and threatened to punish any American company that creates jobs overseas, as well as to impose "massive tariffs" on imports from China. So now it seems that whoever wins the presidential race ( Biden or Trump), the result will not be good for the US stock market.

In this light, Tesla's anti-record (the company lost about $ 80 billion in market value on Tuesday) can be considered a kind of warning.

But Tesla isn't the only problem. The UK internal market bill has provoked an ultimatum from the EU (and rejected it), and the likelihood of the Brexit negotiations failing has reached its maximum. The pound, accordingly, moved to the minimum levels.

The ECB meeting could potentially change a lot in the foreign exchange market, but in fact the parameters of monetary policy were left unchanged, as well as economic outlook in Europe. Although the issue of the euro exchange rate was raised, the Central Bank is not planning to do anything with it so far. So, nothing has been changed dramatically.

The US stimulus package continues to be the main concern for US investors. Democrats on Thursday failed a vote on a Republican stimulus package.

Global vaccine race leader AstraZeneca has suspended its COVID-19 clinical trials around the world due to an adverse reaction in a trial participant in the United Kingdom. This potentially means we will see the coronavirus vaccine a month or two later.

The oil market was also not happy: Saudi Arabia announced the deepest monthly decline in prices for supplies to Asia in five months, and optimism about the recovery in demand decreased amid the peak of the pandemic. So, oil prices were under strong downward pressure.

As for the upcoming week, it will be interesting primarily for the meetings of the Fed and the Bank of England. As well as a block of data on retail sales for almost all key countries of the world. In addition, we will follow the news on Brexit and the situation with the pandemic.
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Comments

Better analyses i like it.
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I agree with you. got a similar outlook.
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