WHO: Pause in AstraZeneca's COVID-19 vaccine trial shows it is well-run

Dhwani Mehta FXStreet

“The pause in AstraZeneca's COVID-19 vaccine trial shows it is a 'well-run' trial,” World Health Organisation (WHO) said in a statement on Tuesday.

The WHO, further, said that the pause showed that they have looked at safety in 'an appropriate manner'.

Last week, AstraZeneca and the University of Oxford announced that they had stopped the key phase 3 trials of a coronavirus vaccine after a participant was found to have an inflammatory syndrome that affects the spinal cord.

Over the weekend, the British pharma company said that they have been given a go-ahead to restart the vaccine trials in the UK.

Market reaction

The market mood is already upbeat and therefore the comments from WHO add to the optimism.

AstraZeneca plc is gaining 2.50% to regain 8,600 levels, at the time of writing.

S&P 500 futures rally 0.68%, approaching the 3,400 mark. AUD/USD trades close to weekly tops of 0.7336, up 0.51% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

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.