XE Market Analysis: Europe – Nov 13, 2020

Narrow ranges have been ensuing, with a theme of yen firmness amid a backdrop of softening stock markets. Market narratives are loaded with the ‘fading Covod-19 vaccine rally’ phraseology due the rollout logistics and time frame. The IEA said that a Covid vaccine won’t likely boost the oil market until late 2021, for instance. Pfizer’s production of a workable vaccine, with a high efficacy rate, has given investors the ability to see across the valley of restrictions and lockdowns in major economies, but the valley appears to be a wide one.