First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus

First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus


Bitcoin was higher, climbing back above $16,000 on Monday after dipping below the mark over the weekend. 

“Should we trade back above $16,490, then we expect to see the bulls take the market by the horns and drive prices to a $17,000 handle,” Matt Blom, head of sales and trading at the cryptocurrency financial firm Diginex, told clients in an email. “If we remain capped by $16,490. then we look for another period of consolidation.”

In traditional markets, European and Asian shares rose and U.S. futures pointed to a higher open as a coronavirus vaccine from Moderna was shown to be 95% effective in a preliminary analysis. Gold strengthened 0.2% to $1,892 an ounce. 

Market moves

Progress in developing a vaccine may not come soon enough to avoid a third wave of the coronavirus that dents consumer spirits during the crucial holiday shopping season – along with confidence in an economic recovery. 

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