{"id":106535,"date":"2020-11-11T17:53:22","date_gmt":"2020-11-11T17:53:22","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106535"},"modified":"2020-11-11T17:53:22","modified_gmt":"2020-11-11T17:53:22","slug":"eu-stoxx-50-vaccine-inspired-rally-slowing","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/eu-stoxx-50-vaccine-inspired-rally-slowing\/","title":{"rendered":"EU Stoxx 50: Vaccine Inspired Rally Slowing"},"content":{"rendered":"<ul>\n<li><strong>The New Zealand Dollar\u00a0 outperformed its major peers\u00a0 after the RBNZ stayed pat on rates\u00a0<\/strong><\/li>\n<li><strong>European equities could slip as vaccine optimism\u00a0 fades.<\/strong><\/li>\n<li><strong>A dovish ECB could cap any selloff EU Stoxx 50 index could reverse as RSI comes out of overbought territory.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Asian bourses advanced in the Asian session as investors continued to cheer\u00a0 coronavirus vaccine developments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The safe haven US Dollar edged lower versus major peers, whilst the risk-sensitive Australian Dollar and Norwegian Krone outperformed..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The New Zealand Dollar rallied after the Reserve Bank of New Zealand kept interest rates on hold at 0.25%. Gold and silver nudged higher despite a 2 basis point rise in US 10-year Treasury yields.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">US mortgage applications and speeches from ECB President Christine Lagarde and Vice-President Luis de Guindos will be in focus.<\/span><\/p>\n<p><strong>Dose of Reality to Weigh on European Asset Prices<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">European stock markets have surged on the\u00a0 coronavirus vaccine breakthrough and on expectation of a less confrontational approach to\u00a0 foreign policy under President-elect Joe Biden\u2019s.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However with covid cases rising and the economic picture deteriorating, investors could have gotten ahead of themselves the EU Stoxx 50 index has rallied around 20% in 6 weeks France and Germany going into month-long national lockdowns. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Euro -area\u2019s ZEW Economic Sentiment Index declined by 19.5 points in November to a 7<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> month low amid concerns of the economic recovery .<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The vaccine by Pfizer and BioNTech was found to be 90% effective. However, there are still many distribution questions which remain.given that it\u2019s a 2 shot injection that requires storage in temperature of -70 degrees Celsius.Given that the vaccine may not be widely available until mid 2021, European assets could slip lower.<\/span><\/p>\n<p><strong>Dovish ECB May Underpin EU Stoxx 50<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">That said, a dovish ECB could cap any losses in European stocks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ECB is widely expected to expand its \u20ac1.35 trillion Pandemic Emergency Purchase Program (PEPP) in December.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">President Christine Lagarde confirmed that the ECB will use all the tools it has referring specifically to PEPP more than others.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The expectation of additional monetary easing could underpin European bourses near term and limit potential losses ..<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New Zealand Dollar\u00a0 outperformed its major peers\u00a0 after the RBNZ stayed pat on rates\u00a0 European equities could slip as vaccine optimism\u00a0 fades. A dovish ECB could cap any selloff EU Stoxx 50 index could reverse as RSI comes out of overbought territory. Asian bourses advanced in the Asian session as investors continued to cheer\u00a0 [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5296,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[],"class_list":{"0":"post-106535","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EU Stoxx 50: Vaccine Inspired Rally Slowing - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/eu-stoxx-50-vaccine-inspired-rally-slowing\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/eu-stoxx-50-vaccine-inspired-rally-slowing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/eu-stoxx-50-vaccine-inspired-rally-slowing\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EU Stoxx 50: Vaccine Inspired Rally Slowing\",\"datePublished\":\"2020-11-11T17:53:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/eu-stoxx-50-vaccine-inspired-rally-slowing\\\/\"},\"wordCount\":351,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/eu-stoxx-50-vaccine-inspired-rally-slowing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100864-gbp-eur-euro-data-in-focus.jpg\",\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/eu-stoxx-50-vaccine-inspired-rally-slowing\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/eu-stoxx-50-vaccine-inspired-rally-slowing\\\/\",\"name\":\"EU Stoxx 50: Vaccine Inspired Rally Slowing - 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