{"id":9284,"date":"2020-11-23T09:06:53","date_gmt":"2020-11-23T09:06:53","guid":{"rendered":"https:\/\/errante.net\/black-friday-madness-the-week-ahead-23rd-27th-november-2020\/"},"modified":"2020-11-23T09:06:53","modified_gmt":"2020-11-23T09:06:53","slug":"black-friday-madness-the-week-ahead-23rd-27th-november-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/fa\/black-friday-madness-the-week-ahead-23rd-27th-november-2020\/","title":{"rendered":"Black Friday Madness The Week Ahead 23rd \u2013 27th November 2020"},"content":{"rendered":"\n

Today\u2019s Market Outlook<\/strong>\u00a0<\/h2>\n\n\n\n

G20<\/strong> <\/p>\n\n\n\n

Leaders of the world\u2019s 20 biggest economies on Sunday endorsed a plan to extend a freeze in official debt service payments by the poorest countries to mid-2021 and backed a common approach for dealing with their debt problems. <\/p>\n\n\n\n

In a joint statement, Group of 20 leaders also strongly encouraged private creditors to take part in the initiative on comparable terms<\/a> and said they were keeping an eye on the special challenges facing African and small island states. <\/p>\n\n\n\n

The G20 debt relief initiative – launched shortly after the start of the pandemic in the spring – has helped 46 of 73 eligible countries defer $5.7 billion in 2020 debt service payments, freeing up funds for countries to fight the pandemic and shore up their economies. <\/p>\n\n\n\n

ASIA<\/strong> <\/p>\n\n\n\n

Asian shares rose on Monday, pushing a broad regional index to a record high as investors pinned their hopes for economic revival on coronavirus vaccines, even as the world contends with surging case numbers and delays to fresh U.S. stimulus. <\/p>\n\n\n\n

Seoul\u2019s Kospi was 1.83% higher<\/a> as an optimistic earnings outlook for South Korean chip giants drove gains. <\/p>\n\n\n\n

Japanese markets were closed for a holiday, but Nikkei futures added 0.27% to 25,815<\/a>. <\/p>\n\n\n\n

The White House (Trump administration) is close to issuing a list of 89 Chinese aerospace and other companies<\/a> that would be unable to access U.S. technology exports due to their military ties, Reuters reported. A spokesman for the U.S. Department of Commerce declined to comment, the news agency said. Such a move would restrict the companies from buying American goods and technology, Reuters added. It could also fuel already-heightened tensions between the two nations as President-elect Joe Biden prepares to take over from Donald Trump. <\/p>\n\n\n\n

U.S.<\/strong> <\/p>\n\n\n\n

The dollar dropped to a two-and-a-half-year low<\/a> as fast-tracked plans to roll out a Covid-19 vaccine in the U.S. bolstered appetite for risk assets. An index tracking the currency slipped 0.2% after U.S. officials said vaccinations may start in less than three weeks. <\/p>\n\n\n\n

This week will be holiday-shortened as investors take off Thursday and part of Friday in observance of the Thanksgiving holiday in the U.S. <\/p>\n\n\n\n

The New York Stock Exchange and Nasdaq will each close all day on Thursday, and trading will end early at 1 p.m. ET on Friday. Bond trading is also set to close early at 2 p.m. ET on Friday. <\/p>\n\n\n\n

While investors take a pause, retail companies are gearing up for what in typical years tends to be one of their busiest weeks. But this year, the throngs of holiday shoppers that usually take to stores across the country on Thanksgiving Day and Black Friday are expected to clear this year, as the pandemic pushes consumers onto their phones and laptops rather than to storefronts. <\/p>\n\n\n\n

A number of major retailers pre-announced that they will be closed on Thanksgiving Day, in a move both to help mitigate crowds and promote social distancing, and to give associates who have been working in-person throughout the pandemic a day off. Stores including Target (TGT), Walmart (WMT), Best Buy (BBY), Home Depot\u2019s (HD), Lowe\u2019s (LOW), Macy\u2019s (M) and JCPenney (JCP) announced Thanksgiving Day closures, marking a departure from prior years when retailers scrambled to offer earlier and earlier opening hours to compete for deals-hungry customers. <\/p>\n\n\n\n

Still, many of these retailers have already begun offering Black Friday-type discounts in stores and online starting in late October and earlier this month. That\u2019s expected to more than make up for the one-day closures by helping retailers capitalize on resilient consumer demand for goods during the pandemic. <\/p>\n\n\n\n

Oil prices pushed higher Monday on the news that the rollout of a Covid-19 vaccine before Christmas now looks likely. Adding to the positive tone were hopes that a meeting of the top producers next week would see curbs on output extended.  <\/p>\n\n\n\n

U.S. crude futures traded 1.1% higher<\/a> at $42.90 a barrel, while the international benchmark Brent contract<\/a> rose 1.3% to $45.64, near their highest levels since September, having gained over 5% last week. <\/p>\n\n\n\n

Elsewhere, gold futures<\/a> fell 0.1% to $1,871.55\/oz. <\/p>\n\n\n\n

EUROPE<\/strong> <\/p>\n\n\n\n

European investors shared the brighter outlook in early trades, with pan-regional Euro Stoxx 50<\/a> futures gaining 0.29%, German DAX<\/a> futures 0.26% higher and FTSE futures<\/a> up 0.21%. <\/p>\n\n\n\n

This comes after Pfizer (NYSE:PFE<\/a>), and German partner BioNTech, applied for U.S. FDA emergency drug authorization for their Covid-19 vaccine on Friday, the same day as Moderna (NASDAQ:MRNA) announced that it was close to seeking the same approval after promising news from its final-stage vaccine trial. <\/p>\n\n\n\n

Indications of the extent of the damage to the euro-zone economy from the recent restrictions many countries have implemented to stop the surge in Covid-19 cases will be in focus later Monday, in the form of flash November PMI data for the service and manufacturing sectors. <\/p>\n\n\n\n

The euro-zone composite output index<\/a> is expected to fall to 45.8 in November from 50.0 in the previous month, with the services sector taking the brunt of the hit. <\/p>\n\n\n\n

The\u00a0EUR\/USD<\/a>\u00a0traded 0.2% higher at 1.1874.\u00a0<\/p>\n\n\n\n

<\/p>\n\n\n\n

Overview for the Week Ahead<\/strong>\u00a0<\/h2>\n\n\n\n

A big data-filled week kicks off in Britain with economic releases from the biggest sector, services and manufacturing out on Monday. <\/p>\n\n\n\n

There are purchasing managers’ index data from several regions this week.  Meanwhile, keep an eye on Bitcoin again as price forecasts soar. Elsewhere, watch cruising stocks after the U.S. escalated its warning for cruise travel to the highest level.  Wednesday\u2019s Federal Reserve meeting minutes might provide further indications that policymakers are ready to increase their asset purchases and possibly target purchases at the longer-end of the curve. <\/p>\n\n\n\n

All these events and more\u00a0have the potential to influence the markets which means there is plenty of trading opportunities.\u00a0<\/p>\n\n\n\n

<\/p>\n\n\n\n

Today’s High Impact Events<\/strong><\/h2>\n\n\n\n

The times below are GMT+2.\u00a0<\/p>\n\n\n\n

Monda<\/strong>y<\/strong> <\/strong>23<\/strong>rd<\/sup><\/strong> <\/strong>November<\/strong> <\/p>\n\n\n\n