The 1.5 million mark for Covid-19 deaths has been crossed
|The 1.5 million mark for Covid-19 deaths has been reached and the US continues to lead the toll, passing 13 million confirmed cases on the weekend.
Public health officials in various states of America have been announcing stricter stay-at-home rules and the jury is still out about whether Thanksgiving has led to another acceleration. Therefore, more states are likely to follow suit.
The US economy will face renewed headwinds over coming months, something stressed in this week's S&P 500 Index piece, S&P 500 Weekly Forecast: Investors getting set for the Santa-Clause rally built on a house of cards
However, investors are enthused with the first doses of Pfizer-BioNTech's Covid-19 vaccine on the move to the US from Belgium.
A panel of US advisers will now vote on how scarce, initial supplies of the vaccine will be allocated.
The Pfizer-BioNTech vaccine candidate is tipped to be the first through the gate, which the FDA will make a decision about on December 10, followed by the Moderna vaccine, which the FDA will make a decision about on December 17.
LIVE: New York Governor Cuomoprovides an update on on the state’s COVID-19 efforts
Market implications
The US dollar has been under pressure following the vaccine news and has reached a 2.5 year low and is now testing key support:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.