{"id":9325,"date":"2020-11-16T09:21:01","date_gmt":"2020-11-16T09:21:01","guid":{"rendered":"https:\/\/errante.net\/the-week-ahead-16th-20th-november-2020\/"},"modified":"2020-11-16T09:21:01","modified_gmt":"2020-11-16T09:21:01","slug":"the-week-ahead-16th-20th-november-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/zh-hans\/the-week-ahead-16th-20th-november-2020\/","title":{"rendered":"The Week Ahead 16th \u2013 20th November 2020"},"content":{"rendered":"\n

Today\u2019s Market Outlook<\/strong>\u00a0
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Asian equities hit a record high on Monday as investors set aside fears about rising coronavirus cases and bought stocks, cheered by data showing a robust recovery in China and Japan. <\/p>\n\n\n\n

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS<\/a> gained 1.1% to hit its highest since its launch in 1987, with markets across the region making milestone peaks. <\/p>\n\n\n\n

Japan’s Nikkei .N225<\/a> rose 2% to a 29-year high. South Korea’s Kospi .KS11<\/a> hit its highest since early 2018 and Australia’s ASX 200 .AXJO<\/a> hit an eight-month top, before jamming there when a glitch halted trade. <\/p>\n\n\n\n

S&P 500 futures<\/a> ESc1 rose 0.9%, Nasdaq 100 futures<\/a> NQc1 leapt 1% and European futures were up strongly with EuroSTOXX 50 futures<\/a> STXEc1 up 0.9% and FTSE futures FFIC1<\/a> up 0.6% late in the Asia session. <\/p>\n\n\n\n

Japanese economic growth, which beat records and forecasts to pull the world\u2019s third-largest economy out of recession and better-than-expected industrial output in China added to the enthusiastic mood. <\/p>\n\n\n\n

The announcement, a week ago, that Pfizer had developed a very effective vaccine has investors hoping for similar good news soon from rival Moderna (MRNA.O) and looking past a tough winter to a better spring and summer ahead. <\/p>\n\n\n\n

EUR\/USD<\/a> remains on the front foot near 1.1850 starting out a fresh week, extending its winning streak into the third straight day on Monday. From a technical perspective, the spot has confirmed an inverse head-and-shoulders breakout on the hourly sticks, which calls for a test of the 1.1900 level. <\/p>\n\n\n\n

Besides the virus, Brexit trade talks are chief among European investors\u2019 concerns on Monday and hopes for a breakthrough have supported sterling against the dollar and the euro.  <\/p>\n\n\n\n

The departure of hardline adviser Dominic Cummings from Downing Street is seen as a positive, perhaps allowing more British concessions, but chief negotiator David Frost said on Twitter that talks \u201cmay not succeed<\/a>\u201d. <\/p>\n\n\n\n

Despite this, London stocks are set to bounce into Monday picking up again on last week’s rally, propelled by some upbeat Chinese data. <\/p>\n\n\n\n

Elsewhere the Aussie and kiwi made small gains, much of which they handed back late in the Asian day. <\/p>\n\n\n\n

Bonds, which had sold off strongly on vaccine news last week, were steady with where they left off on Friday, with the yield on benchmark U.S. 10-year debt US10YT=RR at 0.8930%<\/a>, down from last week’s high above 0.97%.  <\/p>\n\n\n\n

Oil prices inched higher, with Brent crude futures LCOc1 up 1% at $43.26 a barrel<\/a> but below last week’s two-month high of $45.30. U.S. crude CLc1 rose 1% to $40.55 a barrel.  <\/p>\n\n\n\n

Gold XAU= rose 0.4% to $1,896 an ounce.<\/a>\u00a0<\/p>\n\n\n\n

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

The economic events calendar is finally looking a little quieter. However, the ongoing Brexit negotiations, Trump refusing to go gently, COVID-19 case counts, and the vaccine status will be sensitive topics of interest this week.  <\/p>\n\n\n\n

The sharp rates move following Pfizer’s better-than-expected efficacy report on Monday<\/a> was a circuit-breaker for risk and markets are now searching for the next driver. <\/p>\n\n\n\n

US retail sales and sentiment data (UMich, Empire, Philly Fed) in the US, retail sales in Canada, unemployment data in Australia and retail sales data in China will be key. There\u2019s a long list of central bank speakers taking the stage, in the US (Williams, Bullard, Clarida, Kaplan, Bostic, George), UK (Haskel, Bailey, Ramsden, Haldane, Tenreyro, Cunliffe), Europe (Villeroy) and Australia (Lowe, plus the RBA minutes) \u2013 though ultimately substantial announcements are not expected. <\/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

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

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

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Monda<\/strong>y<\/strong> 16<\/strong>th<\/sup><\/strong> <\/strong>November<\/strong> <\/p>\n\n\n\n