GLOBAL & REGIONAL DAILY (Tuesday 17 November, 2020)
GLOBAL & REGIONAL DAILY
November 17 2020
There were more encouraging Covid-19 vaccine news y-day, with Moderna announcing that, based on preliminary results, its Covid-19 vaccine is a stunning 94.5% effective in preventing infection. However, investors seem concerned about the logistics challenges of a Covid-19 vaccination effort. In FX markets, the EUR/USD remained stuck in the 1.1850 region, ahead of today’s US retail sales and IP, both for October.
According to ELSTAT, for the total of enterprises in retail trade, the turnover in Q2-2020 amounted to €10.7 bn, recording a decrease of 17.8% in comparison with Q2-2019 and a decrease of 4.0% in comparison with Q1-2020.
Hungary and Poland blocked yesterday the EU’s EUR1.85tn budget, posing additional delay in the final agreement. The trigger point that led the two countries in exercising their veto right, was the rule of law conditionality.
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