Morning wrap (26.11.2020)

• US indices finished yesterday's session mixed. S&P 500 dropped 0.16%, Dow Jones declined 0.58% and Nasdaq gained 0.47%. Russell 2000 dropped 0.47%

• Mixed moods can also be spotted on stock exchanges in Asia-Pacific. Nikkei gained 0.9%, S&P/ASX 200 declined 0.7%, Kospi jumped 0.8% and indices from China decline

• DAX futures point to a slightly higher opening of the European session

• Daily coronavirus death toll topped 12 thousand for the first time yesterday. Daily case count returned back above 600,000

• According to Financial Times, European Union may hold an extra plenary session in late December to vote on the EU-UK deal. Of course, such actions will be conditional on if there is a deal

• Australian CapEx declined 3% QoQ in Q3 2020 (exp. -1.5% QoQ)

• New Zealand reported trade deficit of NZ$501 million in October, in-line with expectations

• According to Wall Street Journal, Exxon Mobil expects Brent price in $50-55 range for the next five year before reaching $60 in 2026 and 2027

• Bloomberg reports that Biden's top economic advisor is likely to be either Roger Ferguson, former vice-chairman of the Federal Reserve, or Brian Deese, a BlackRock executive

• Ranges on the FX and commodity markets are narrow and liquidity is thin as US traders are off for Thanksgiving holiday. CHF is a top mover among majors while USD lags the most. Bitcoin dropped below $18,000 

Daily coronavirus case count returned above 600,000 yesterday. Source: worldometers, XTB