Market Overview
- Worldwide coronavirus cases surpass 104.3 million with over 2,261,000 official deaths.
- US Equity markets continue to register record levels with the DOW and Nasdaq both up over 1.5% overnight.
- The US Senate has voted in favour of moving ahead with his 1.9T coronavirus relief stimulus plan.
- The RBNZ are no longer interested in cutting rates this year after a bumper unemployment read of 4.9% unemployment earlier today.
- The Reserve Bank of Australia have raised their bond buying program by 100B but made comment the Australian economy is well underway to recovering earlier than predicted.
- AstraZeneca vaccines are showing an 82.4% efficacy rate after a 3 month gap between jabs.
Major Announcements last week:
- Australian CPI q/q came in at 0.9% from the 0.7% predicted
- The US Federal Reserve left rates unchanged at 0-0.25%
- US Advanced GDP released at 4.0% from 4.2% predicted
- German prelim GDP q/q released at 0.1% much lower than the September quarter 8.2%
- US Manufacturing Index printed at 58.7 remaining firm