Overview of TOP weekly news

South Korea has announced the effectiveness of coronavirus vaccines

South Korea has announced the effectiveness of vaccines from AstraZeneca and Pfizer. According to the report, the AstraZeneca coronavirus vaccine has 86.6% effectiveness in preventing infection among people aged 60 years and older. Data from the Korean Agency for Disease Control and Prevention (KDCA) showed that the Pfizer vaccine, developed jointly with BioNTech, was 89.7% effective in preventing infection for at least two weeks after the first dose, while the AstraZeneca dose had 86.0% efficiency.

KDCA said: “Both vaccines have been shown to provide high protection against infection after the first dose. (People) should receive full vaccination according to the recommended schedule, as the prevention rate will increase even more after the second dose.”

South Korea has vaccinated 6.7% of its 52 million population. The government’s goal is to reach 70% vaccination of the population by September and for the country to acquire collective immunity by November.

India has seen a record daily increase in deaths

India recorded the highest daily increase in coronavirus deaths yesterday. The country has recorded a record 3,780 deaths in the last 24 hours, the day after India became the second country to surpass the milestone of 20 million infected in the United States.

The alarming situation is in Indian hospitals, as the Indian highly infectious variant of coronavirus causes hospitals to lack enough beds as well as oxygen ventilation.

In response to the current situation, the Indian opposition party has called for a nationwide lockdown. The government is currently reluctant to impose a lockdown for fear of economic impact, although several states have already imposed restrictions on movement.

The US trade deficit is at a record high

The US reported a widening trade deficit in March compared to the previous month by 5.6 percent to a record $74.4 billion, according to data released by the US Department of Commerce. The main fundament is the significant recovery of the US economy, which is recovering faster than the rest of the world and influencing the growth of domestic demand, which increased imports to a record high. On the other side of foreign trade, there are many countries, which are currently dealing with a pandemic significantly worse than the US.

The trade surplus of the U.S. services fell to $17.1 billion, the lowest level in ten years. According to analysts, the data were influenced by anti-coronary virus restrictions, which hurt tourism.

In the first quarter, the US trade deficit increased by 64.2 percent on a year-on-year basis to $212.8 billion. The US economy was partially shut down by the coronavirus pandemic in the first quarter of 2020.

Lyft rides recover

Lyft announced that demand for driving increased in the first quarter compared to the previous year, which was impacted by a pandemic. The company recorded 13.5 million active drivers in the first quarter. The increase compared to the fourth quarter of 2020 is about 8%, although the number of active riders was about a third less on a year-on-year basis.

Performance of Lyft’s shares (Source of the graph: Tradingview) [1]  

Deutsche Post has raised its growth prospects

The well-known German logistics company Deutsche Post has announced a renewed increase in its financial outlook after more than tripling its operating revenues in the first quarter. The main source of growth should be e-commerce, which will continue to grow, supported by the revival of global trade.*

Performance of Deutsche Post’s shares (Source of the graph: Tradingview) [2]

Watch this week:

Thursday, May 6, 2021

The Central Bank of England will publish the decision to keep or change the main interest rate. The expectation is that BOE retains interest rates on the current 10 basis points. *

Friday, May 7, 2021

Germany reports the development of industrial production in April. Analysts expect 2.3% growth on a month-on-month basis. *

The US will publish the level of unemployment in April. Outlook is.a 0.2% decrease to 5.8%.*

Source of the text: Investing, Zerohedge, Financial Times, Reuters, Tradingview

 

[1,2] Past performance is no guarantee of future results

*     Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.

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