AstraZeneca and Oxford University announced new plans to resume working on the CoronaVirus vaccine, making the world stocks open higher on Monday 14.09.2020. The process was put on halt last week as anomalies in test results and strange side-effects were picked up among a few patients.
“Globally some 18,000 individuals have received study vaccines as part of the trial. In large trials such as this, it is expected that some participants will become unwell and every case must be carefully evaluated to ensure careful assessment of safety,” said Oxford University in a statement.
Investors were putting their hopes in the basket of a vaccine which will eradicate the presence of the coronavirus and end the lockdown, letting businesses go back to their normal workflow and start recovering the economy.
The US Federal Reserve is finishing a 2-day policy meeting on Wednesday 16.09.2020. On the agenda, you can find an update on the future economic projections, interest rates, and for the first time, the Fed’s plans for 2023.
Similarly, the Bank of Japan and the Bank of England will reveal its policies on Thursday 17.09.2020.
With another storm looming in the Gulf of Mexico, the oil process dropped yet another time on Monday 14.09.2020 as fears of yet another oil production shut down is on the corner. It is the second time in one month that weather disrupts this region where almost 50% of America’s oil production is located.
Currently, the storm which is named Sally is gathering strength and is forecast to be a category 2 hurricane when it reaches the shore.
Only a couple of weeks ago, Hurricane Laura forced the US oil producers to shut down oil production for many days and evacuate as many as 310 personnel, pausing more than 1.56 million barrels a day of crude oil output. Sally is expected to arrive in New Orleans on Tuesday.
At $37.53 per barrel, U.S. crude futures were traded 0.5% higher on Monday 14.09.2020, which was similar to Gold which also rose 0.5%.