U.S. stocks closed mixed on Friday, however for the week the Dow grew by about 3%, the S&P 500 gained 2.9% and the Nasdaq – 3.2%.
This week’s progress comes amid optimism about a global economic recovery and growing hopes for a vaccine.
Moderna said that all 45 participants in his vaccine study had developed coronavirus antibodies.
The United States is planning a large round of phase 2 vaccine trials in a bid to speed up vaccine development, with more than 100,000 people being tested from July.
This week, China unveiled a plan to take a stronger stance on anti-government protests and controversy in Hong Kong. The effect is that it will provoke a strong reaction from the United States, which could lead to a reconsideration of the special trade status between the two countries.
The economic calendar for next week is relatively light, with markets in the United States closed for Monday.
The most important for the euro will be the IFO reports from Germany and the data on inflation in the euro area. We expect the currency to continue to outperform, especially when we expect improvements in the confidence of German business.
BoA is expected to increase the stimulus next month and increase its openness to negative rates. As a result, sterling must continue to be lower than other major currencies.
Junior Trader Daniel Dimitrov