Potential COVID-19 vaccine from China shows promise in animal trials – The Hill

Ross J Burland FXStreet

Chinese researchers who are developing a coronavirus vaccine say it showed promise in animal trials, according to a study published Saturday in the medical journal Cell as The Hill reports.

The article states that the "potential vaccine, called BBIBP-CorV, reportedly produced antibodies that fought against the virus in monkeys, rats, guinea pigs and rabbits."

Key notes

'These results support the further evaluation of BBIBP-CorV in a clinical trial,' researchers said in the paper.

The vaccine is being developed by the Beijing Institute of Biological Products, which is a unit of the China National Pharmaceutical Group (Sinopharm). It is one of five vaccine candidates that is being tested in the country.

Additionally, the article goes on to explain that there are more than 100 potential vaccines in works worldwide, about five of which are in different stages of development around the US.

Moderna, the American biotech company working on a vaccine with the National Institute of Allergy and Infectious Diseases (NIAID), announced Wednesday that it will begin the final testing stages in July.

In its previous phase, Moderna's vaccine showed promising results when tested on animals, much like BBIBP-CorV.

John Mascola, the director of the vaccine research center at NIAID, told The Wall Street Journal that the trials will involve about 30,000 people at more than 50 sites, which will mostly be within the US .

Market implications

Investors seeking bullish markets need some good news following a sobering 24-hours in the markets. More on this here: Biggest decline in the S&P 500 since mid-March, losers fit well with second virus wave fears

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD flirts with two-day lows near 1.3180

GBP/USD remains on the back foot in the latter part of Tuesday’s session, sliding to the sub-1.3200 area and challenging weekly lows. Cable’s decline comes as investors assess the political uncertainty in the UK, coupled with softer-than-expected UK PMI data and the better tone in the Greenback.

EUR/USD weakens below 1.1400 on stronger Dollar

EUR/USD adds to Monday’s losses and recedes below the 1.1400 support to clinch fresh 13-month lows in the latter part of Tuesday’s NA session. The pair’s marked sell-off comes on the back of the persistent move higher in th US Dollar, always propped up by rising bets of further tightening by the Fed.

Gold appears supported near $4,100 for now

Gold rapidly reverses Monday's bounce and is trading sharply lower on Tuesday. The yellow metal, however, manages well to keep business above the $4,100 mark per troy ounce despite a firmer US Dollar and expectations that the Fed will keep rates higher for longer.

Bittensor and Near Protocol Outlook: AI-linked tokens face deeper sell-off

The cryptocurrency market trades amid increasing sell-side pressure on Tuesday, reflecting a broader deterioration in sentiment and appetite for risk assets. Artificial Intelligence (AI)-linked tokens such as Bittensor (TAO) and Near Protocol (NEAR) exhibit both fundamental and technical weaknesses, trading at $217 and $1.99, respectively.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.