Return risk as Moderna CEO makes grim prediction

0


Stéphane Bancel, CEO of Moderna, said the current crop of vaccines will struggle against the Omicron variant due to the high number of mutations on the spike protein. While he admits that we still have to wait for the data, he also added that all the scientists he spoke to agreed “this is not going to be good.”

It was noted that he made similar comments live on CNBC yesterday, but the markets clearly took them much more seriously by the Financial Times. It could just be bots reacting to headlines or favoring one medium over another. Do whatever you want with it.

Investors flocked to the Japanese yen, Swiss franc, gold and bonds as classic risk games result. US futures are now down around -1.4%, with S&P 500 E-mini futures wiping out all of yesterday’s gains in an hour. We have yet to see how European traders react but, if the recent downtrend starting in Asia persists, it may not be a good session for the bull camp.

WTI completed the liquidity gap up to $ 73 highlighted yesterday before closing. After snaking around $ 70, the bearish momentum has now returned in line with its dominant trend, suggesting the swing high is up at around $ 73. The next major support is around $ 64, but we need to see prices breaking through Friday’s low to confirm the trend to continue.

20211120audjpyCI

AUD / JPY – the classic barometer of risk – resumed its downtrend on the four hour chart. After finding resistance around the monthly pivot point, prices came out of the downward compression. Our bias remains bearish below 81.40 although 80 may provide intermediate support ahead of the S1 monthly pivot. But if this is a real risky move, it should do a light job of such levels.

How to trade with City Index

You can easily trade with City Index by following these four simple steps:

  1. Open an account or log in if you are already a customer

    • Open an account in the UK
    • Open an account in Australia
    • Open an account in Singapore

  2. Find the business you want to trade on our award-winning platform
  3. Choose your position and size, as well as your stop and limit levels
  4. Place trade



Share.

About Author

Comments are closed.