Overview of TOP weekly news
The British economy has seen a massive downturn
The British economy fell by a record 20.4% in the second quarter. The reason was the blockage of the country caused by the coronavirus based on which, the economy showed the largest decline recorded in history so far. Reported data also show that the world’s sixth-largest economy has entered a recession, declining for the second consecutive quarter.
“The recession caused by the coronavirus pandemic has led to the largest decline in quarterly GDP. The economy began to rebound in June … Nevertheless, GDP in June remains below the February level, even before the virus occurred,” said Jonathan Athow from the Office for National Statistics.
The first officially approved vaccine
Russia’s health ministry has approved the world’s first vaccine against Covid-19. This was announced today by Russian President Vladimir Putin, according to which one of his daughters has already tried the vaccine on himself.
According to TASS, Putin expressed the hope that mass vaccination could be launched soon. In this context, Deputy Prime Minister Tatyana Golikova announced that vaccination with the new preparation could start in late August or early September. TASS noted that according to a certificate published on the website of the State Register of Medicines, the new vaccine will enter “civilian circulation” from January 1 next year.
According to the Minister of Health, Mikhail Murašek, health workers should be the first to come to the turn, because they come into direct contact with infected people. According to him, teachers should also be vaccinated as a matter of priority. Muraško said that the clinical trials took place in June and July. The vaccine is based on a well-known platform on which several other vaccines are derived that can provide immunity for up to two years.
Tesla will make the shares available to retail investors
Tesla said on Tuesday after the market closed that it would proceed with the division of shares, thus “making share ownership available to employees and investors.” However, after the last departure, the share price after the split would cost almost $300, based on the approximate current level of trading.
The strong growth of the company this year was accompanied by the purchase of large investors for small investors. The number of accounts held by Tesla shares in Robinhood – a business service that has become a popular location for active private investors in the US – has reported an increase in accounts holding Tesla shares of approximately 550,000.
Performance of Tesla’s value (Source of the graph: Tradingview)
Precious metals sold a massive sale
Bloomberg analyst Mark Cranfield noted that small turnovers are simply not a golden style after a big increase (usually somewhere between 15% and 20% decline) and selling pressure on precious metals continued when Japan and China opened this evening with silver futures contracts back for $23 and gold futures contracts back under $1900.
The main foundation for the growth of precious metals is the fact that the Federal Reserve is pushing trillions of dollars and does not plan to stop doing so soon. Fed Chairman Jerome Powell said he was not even thinking about raising interest rates. There are reports that the central bank is ready to commit to rising inflation. All this is extraordinary for bull gold.
In an interview with CNBC, Frank Holmes, CEO of US global investors, said we would see a troy ounce of gold at $4,000 in the relatively near future, thanks to the aforementioned fact that the G-20 central banks “cooperate like a cartel and all print trillions of dollars.”
Comparison of performance of gold and silver futures (Source of the graph: Tradingview)
America has approved the purchase of millions of vaccines
According to the latest figures, the US said it would buy 100 million doses of Covid-19, developed by Moderna, Donald Trump said, although the vaccine remains in the experimental phase. The US president also added that the US will subsequently be able to buy another 400 million vaccines from the biotech group.
Trump said: “We are investing in the development and production of the top six vaccine candidates to ensure rapid delivery. The military is ready to go, it is ready to deliver the vaccine to the Americans as soon as one is fully FDA approved and we are very close to that approval. ”
According to the latest published data, the price for the benefit was approximately $25-30. Pfizer’s biggest competitor, on the other hand, plans to sell benefits for $19.50. Although Moderna has reconsidered the price and plans to climb the Pfizer price, it does not include the nearly $1 billion that the US government has already agreed to pay to support vaccine development.
Performance of Moderna’s value (Source of the graph: Tradingview)
Watch this week:
Thursday, August 13, 2020
Australia will publish unemployment developments in July. Analysts expect an increase in employment by 40,000 inhabitants.
Friday, August 14, 2020
The euro area publishes GDP growth for the second quarter. Expectations are a 15% decline on a year-over-year basis.
The United States will publish the development of retail sales for July. Analysts expect 1.9% growth on a month-on-month basis.
Source of the text: Investing, Zerohedge, Financial Times, Reuters, Tradingview