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Following the release of the third clinical trial report by Pfizer and Moderna, AstraZeneca, a British pharmaceutical manufacturer, announced yesterday that the third phase of the COVID-19 vaccine jointly developed with Oxford University had been tested.

The experimental results show that the effective rate of their vaccine can reach 70%, and the effective rate of the program of supplementing two consecutive full doses is only 62%, while the effective rate of the program of inoculating half doses first and then inoculating one whole dose is 90%.

Although AstraZeneca's efficiency is inferior to that of Moderna and Pfizer, it has the same influence on the market. Investors prefer risky assets and avoid safe-haven assets, and gold becomes the object of exchange.

Yesterday, the price of gold was also made in the early stage, and the highest price was 1876 US dollars per ounce. However, when entering the European market, it was exhausted and returned to the opening price. After AstraZeneca reported, it began to fall, and the decline turned sharply in the US market

, the worst is $1,831 per ounce, the fluctuation is $45, and it finally closes at $1,838 per ounce, down $12.

Although gold is temporarily suppressed by vaccine news, under the environment of quantitative easing by central banks around the world and sustained low interest rates, after the vaccine news is digested, investors will eventually return to the gold market to fight inflation with gold.

Long-term investment should approach 1800 per ounce. Bitcoin, the virtual currency, was also affected by the "good" news of vaccines. It rose to $18,700 per vaccine yesterday, but it fell to $18,010 per vaccine after the news came out.

It stuck to the 18,000 mark and closed at $18,330 each, down about $110. I believe Bitcoin will remain strong in the short term, with a great chance to challenge 20,000 US dollars.

In terms of data, Germany, the United Kingdom and the United States released the regional purchasing managers' index yesterday. The data of the three countries are better than the market estimates, especially the American manufacturing purchasing managers' index is the most prominent.

It rose to 56.7 points of the largest expansion since September, 2019, but it should be noted that this high expansion may be caused by the repression since the epidemic and the additional orders to make up for the traditional important festivals "Thanksgiving Day" and "Christmas Day" in the United States on November and December.

The results of the American election gradually favored Biden. Murphy, director of the US Federal General Services Department, wrote to Biden of the Democratic Party, acknowledging Biden as an "obvious winner" and informing him that he could formally start the transition work.

Biden also began to organize his administration team. It is said that Biden will nominate former Federal Reserve Chairman Yellen as the US Treasury Secretary. If Yellen's nomination is approved, she will be the first woman to hold the post of US Treasury Secretary.

When Yellen was the chairman of the Federal Reserve Board, she always called on the government to increase fiscal expenditure to promote economic recovery. Similar to the idea of the Democratic Party of the United States, it is expected that there will be a larger post-epidemic economic stimulus plan.
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