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Big Rally for Risky Assets Last Night, Here is Why

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A huge push higher was observed with US stocks and riskier assets in general, late in the evening of Thursday. USD was initially forced to pull back, with the likes of AUD, NZD, CAD, EUR, GBP, all gaining some ground.

There were two strong fundamental developments for this, reports surfaced from U.S. company Gilead Sciences that Covid-19 patients were being treated with antiviral drug Remdesivir. It was said that they were seeing rapid recoveries in fever and respiratory symptoms, with nearly all patients discharged in less than a week.

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