SHANGHAI, Nov 19 (SMM) — This is a roundup of global macroeconomic news last night and what is expected today.

The dollar slipped for a fifth straight session on Wednesday, sliding to a more than one-week low, as positive vaccine news offset the surge in coronavirus cases and tighter economic restrictions across the United States and Europe.

The market showed a little more appetite for risk-taking, with gains in currencies that rise in times of improving sentiment such as sterling, the New Zealand dollar, and Norwegian crown.

Pfizer announced that the final results from the late-stage trial of its COVID-19 vaccine showed it was 95% effective, giving relief to a pandemic-weary market. That followed news that Moderna Inc released preliminary data for its vaccine, showing 94.5% effectiveness.

That said, the number of reported global daily deaths from the coronavirus stood at 10,816 on Tuesday, according to a tally, the highest single-day death count. The United States, the worst-affected country worldwide, has reported about 11.38 million infections and 248,574 deaths since the pandemic started.

On Wall Street, the Dow Jones Industrial Average rose, boosted by a pop in Boeing shares, while investors digested more positive news on the coronavirus vaccine front.

Oil prices firmed by more than 1% on Wednesday on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective than previously reported.

Brent crude rose 70 cents, or 1.6%, to $44.45 a barrel, while U.S. West Texas Intermediate crude settled 39 cents higher at an 11-week high of $41.82 per barrel.

Prices were also supported by a smaller-than-expected increase in U.S. crude stockpiles last week.

Both contracts jumped by about $1 after Pfizer Inc said that final results from late-stage trial of its vaccine showed it was 95% effective. Last week it had put the efficacy at more than 90%.

Moderna Inc on Monday said that preliminary data for its vaccine also showed it was almost 95% effective.

Gold prices eased on Wednesday as optimism about Pfizer’s successful vaccine trials countered concerns over rising coronavirus infections and bets for further economic support.

Spot gold was down 0.3% to $1,872.38 per ounce. U.S. gold futures settled down 0.6% at $1,873.90.

“The rollout of positive vaccine developments is reducing gold’s lure as a safe haven. (Although) it still seems to be in a trading range, the big moves up seem to be finished for now,” said ED&F Man Capital Markets analyst Edward Meir.

U.S. drugmaker Pfizer Inc said it was set to apply for emergency U.S. authorization after final results from its vaccine trial showed a 95% success rate with two months of safety data.

Key economic data slated for release today include UK CBI Industrial Trends Orders for November, US Initial Jobless Claims as of November 14 and US Existing Home Sales for October.