Markets taking a breather, however Covid-19 numbers continue to go the wrong way

By Dragon Tehrani | Nov 12, 2020

Markets are generally mixed this morning, investors are now waiting for Washington to try and come up with a stimulus plan, and biotech company Moderna to release its data on late-stage trials that will show the effectiveness of its coronavirus vaccine. Expectations are that it will likely have the same effectiveness as Pfizer’s as Moderna is using RNA or mRNA technology like Pfizer.

The Covid-19 numbers are moving higher not just in the U.S. but also in Canada, both sides of the border are experiencing record numbers,  this has various levels of governments wondering about a geographical-shutdowns. Some states are approaching capacity in their hospitals and they may be forced to limit movement within certain cities or counties. In Canada, provincial governments have already imposed geographical lock-downs but it hasn’t had much of an impact, Canada’s second wave is now passing its first and doctors are worried that this could get a lot worse ‘

The Canadian dollar is weaker to the USD on this news, if Moderna does come out with positive news, then expect the Canadian dollar to strengthen again.                                                                       

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