Early Tuesday trading can be characterised by a return to some sort of normality, after the euphoria that followed yesterday’s announcement that Pfizer’s vaccine trial delivered a 90% efficacy in preventing COVID-19. With investors already eager to take on risk following the end of all the uncertainty in the build-up and immediate aftermath of the US election, the announcement of the vaccine breakthrough provided an additional boost to this sentiment and propelled risk-related assets to unexpected highs. However, there is an interesting angle: despite the risk-on stance, the safe-haven US Dollar recorded gains versus its peers which is the opposite of what it normally does when there is good news. The rationale behind this dynamic may be that an earlier than expected vaccine has the potential to halt the pandemic during the first half of 2021 and be the light at the end of the tunnel for the Fed’s overstretched accommodative policies.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.