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The US Food and Drug Administration (FDA) is expected to vote in favour of issuing Pfizer/BioNTech’s Covid-19 vaccine emergency use authorisation (EUA) later this Friday. This comes after the FDA voted 17 to 4 that the benefits of taking the vaccine outweigh the risks on Thursday.

According to US Health and Human Services Secretary Alex Azar, EUA on Friday means that Americans could begin receiving vaccination as early as next Monday. Health care workers and nursing home residents will be the first to receive the vaccine. 

Market Reaction

Risk appetite remains subdued, with EUA for the Pfizer vaccine very much expected at this point. At present, the S&P 500 trades with losses of just over half a percent and is below 3650, while the Dollar Index trades just below 91.00. A lack of progress on Brexit and US fiscal stimulus talks on Friday has been the main factor weighing on sentiment.