Stocks rocket higher amid more vaccine news.


How easy is that? Indices are up 1.5% during the London session on Monday after AstraZeneca announced Saturday that it had resumed phase 3 trials of its Covid-19 vaccine candidate, which it is developing with the University of Oxford.

These trials were halted last week amid bad reactions by one patient, yet equities did not fall on that day. Nevertheless, when the trials were renewed, we see a massive rally, with basically absolutely no news released.

The focus will now shift toward the FOMC meeting, which concludes on Wednesday. This is another event which will most likely send stocks higher. 

The Bank of Japan and the Bank of England will also hold policy meetings later in the week. However, the macro calendar is empty today.

In the FX, nothing has happened during the Asian session, and all the major pairs are trading flat, or with only marginal movements. 

Oil and metals were seen slightly higher on Monday morning as they are trying to recover from last week's weakness.
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