Start of vaccination | 18 December 2020

#DAX30:

The ECB Governing Council decided to increase the envelope of the pandemic emergency purchase programme by €500 billion to a total of €1,850 billion. It also extended the horizon for net purchases under the PEPP to at least the end of March 2022. In any case, the Governing Council will conduct net purchases until it judges that the Covid-19 crisis phase is over. The Governing Council also decided to extend the reinvestment of principal payments from maturing securities purchased under the PEPP until at least the end of 2023. In any case, the future roll-off of the PEPP portfolio will be managed to avoid interference with the appropriate monetary policy stance. A positive signal for the German stock market!

Trading recommendation: Buy 13101 and take profit 13430.

#SP500:

The U.S. Supreme Court on Friday rejected a long-shot lawsuit by Texas and backed by President Donald Trump seeking to throw out voting results in four states, dealing him a likely fatal blow in his quest to undo his election loss to President-elect Joe Biden. In a brief order, the justices said Texas did not have legal standing to bring the case, abruptly ending what Trump had touted this week as his best hope for overturning the election. The decision allows the U.S. Electoral College to press ahead with a meeting on Monday, where it is expected to formally cast its votes and make Biden's victory official. The positive news for the U.S. stock market.

Trading recommendation: Buy 3660 and take profit 3716.

#WTI:

An advisory panel to the U.S. Food and Drug Administration recommended approval of Pfizer Covid-19 vaccine for emergency use, paving the way for vaccinations to get underway in America, potentially as soon as this week. Pfizer said in November final results from the late-stage trial of its COVID-19 vaccine showed it was 95% effective. The world might soon be able to travel freely as millions of doses of coronavirus vaccines were being prepared for delivery over the course of the next few weeks, after approval by relevant health authorities. This is a positive signal for the oil market!

Trading recommendation: Buy 46.80 and take profit 47.90.