23.11.2020: New vaccine bolsters market sentiment (DJIA, USDX, USD/CAD, BTC/USD)

Futures on the US stock indices are growing amid the news on the vaccine front. At the same time, the US dollar is losing steam across the board, including the Canadian dollar. Having reached its historic peak, bitcoin is trading slightly lower today.
Today British pharmaceutical giant AstraZeneca announced an interim analysis of clinical trials of the coronavirus vaccine developed in collaboration with the University of Oxford. The researchers assess its effectiveness at 70.4% on average in protecting against the virus. The minimal effectiveness is measured at 62% and the highest one at 90%.
Earlier this month, US companies Pfizer and Moderna stated that their vaccines had an average effectiveness of 95% and 94.5% respectively. Nevertheless, the vaccine by AstraZeneca offers a weighty advantage in terms of storage conditions. It retains its properties and safety even at the temperature of a zero Celsius degree and higher. This feature simplifies deliveries of the news medicine.
AstraZeneca said that it is ready to produce 3 billion jabs and make it available worldwide by the end of the next year.
Amid such positive news, futures on the benchmark stock indexes are trading higher. The Dow Jones index gained 0.59% today. Likewise, the S&P 500 also posted a 0.54% climb. Futures on the Nasdaq are 0.32% higher.
The rally of the US stocks is subdued by soaring numbers of new coronavirus cases in the US. According to the data by Johns Hopkins University, the US reported over 177,000 new confirmed cases in the latest 24 hours.
The new vaccine suggests that mass vaccination in the US is around the corner and at the same time boosts global risk-on mood. By the first half of the day, the US dollar index dropped 0.2% against its six major rivals. The index is about to hit a fresh low since the beginning of September. It is trading at about 92.050 in the early New York session, having shed 0.3%


The US dollar also weakened 0.2% against its Canadian peer. The USD/CAD pair is trading at near 1.3052.
Meanwhile, bitcoin is trading lower at 18.440 dollars per token, having lost 0.54%.
The most popular cryptocurrency traded last at the level above 18,000 dollars in December 2017.
Bitcoin seems to have reached its historic high. In this context, retail investors are likely to shift focus towards alternative cryptocurrencies which are still far away from their historic highs.
A lot of analysts predict robust consumer activity in the US, growing spending of Americans on journeys, restaurants, and other services that is directly related to the invention of the coronavirus vaccine. At the pandemic outbreak, air companies and hotels had to fire thousands of employees and reduce costs. Once the vaccine is made available to the public, these companies could not be able to cope with high demand that will inflate service prices. Accommodation rent in cities also could rise in value. Besides, Americans might still have not spent yet a part of relief aid from the government as recent data shows high levels of savings. This could also spur consumer inflation amid an increase in the money supply in the domestic economy.

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