Foreign direct investment into Vietnam decreased 2.4 percent from a year earlier to USD 17.2 billion in January-November 2020. Additionally, FDI pledges, which indicate the size of future FDI disbursements, plunged 16.9 percent in the year to USD 26.4 billion. The manufacturing and processing sector is set to receive the largest amount of investment (47.8 percent of total pledges) followed by and production and distribution gas water and electricity distribution (36.5 percent) and. Singapore was the top source of FDI pledges in the period, followed by South Korea and China.

The annual inflation rate in Vietnam declined to 1.48 percent in November of 2020, the least since February 2016, from 2.47 percent in the previous month. Prices rose softer mostly for food & catering services (6.63 percent vs 9.50 percent in October), housing & construction materials (0.64 percent vs 0.70 percent), education (3.81 percent vs 3.85 percent). On the other hand, inflation accelerated for textiles, footwear, hat (0.55 percent vs 0.53 percent). Meanwhile, transport prices continued to drop (-13.27 percent vs -13.49 percent), due to the decrease in electricity and water prices. Annual core inflation, which excludes volatile items, fell to 1.61 percent in November, the lowest since September 2018.

Wall Street finished higher in thin post-holiday trading, with the S&P adding 9 points to a record 3,638, the Nasdaq 111 points to a record high of 12,206 and the Dow Jones gaining 38 points to 29,910. On the week, both the S&P 500 and the Dow booked a 2.2% gain and the Nasdaq surged 2.9%. Retailers were among the top performers amid hopes of strong Black Friday sales. Investors also weighed prospects that a coronavirus vaccine can be used soon, chances the Fed would raise asset purchases from the current pace of $120 billion a month, an orderly transition of power and mixed economic data released during the week. Meanwhile, more than 110K coronavirus infections were recorded on Thursday, the lowest in near 2 weeks although the number of hospitalizations hit a record of at least 90,481.

The dollar index lost 0.2% to 91.8 on Friday, the lowest on a closing basis since April 29th, leaving the door open for deeper retracements as a vulnerable job market raised speculation over further monetary easing or additional government stimulus. Jobless claims came in higher than expected amid a worsening coronavirus pandemic and new lockdowns across the country. At the same time, dollar's diminishing safe-haven status in the light of developments toward a coronavirus vaccine and reduced uncertainty in US politics leaves room for further downside momentum. On the week, the dollar fell 0.6%, the second consecutive weekly decline and pushing the yearly loss to nearly 5%.

Gold dropped 1.3% to $1,787 an ounce on Friday, remaining close to levels not seen since early-July, and lost 4.5% on the week, the biggest weekly decline since late-September, as risk appetite improved amid increasing optimism that a coronavirus vaccine could be used soon and the economic recovery would gather steam in 2021. However, a weaker dollar, a slowdown in the US labour market recovery and signs the Fed and the ECB could provide more accommodation if necessary are preventing further losses. Gold is up near 17% so far this year.

Canada’s TSX gained 57 points or 0.3% to 17,408 on Friday, as vaccine developments and an orderly transition of power in the US continues to nudge sentiment higher. On the domestic side, the Bank of Canada’s Governor Macklem said that the economy could recover faster than expected if consumer spending jumps in the wake of a successful coronavirus vaccination efforts. Meanwhile, a senior official at Canada’s drug regulator said that the country could approve Pfizer’s coronavirus vaccine around December. On the corporate side, Air Canada said that it reached a deal with its pilots to allow the airline to operate dedicated cargo aircraft. During the week, the TSX gained 2.3%.

WTI crude futures went down 0.4% to $45.5 a barrel on Friday, but booked an 8% gain for the week, its fourth consecutive weekly gain supported by hopes that a coronavirus vaccine will be rolled out soon, a possible delay in OPEC+’s planned production increase in January and the formal start of Joe Biden’s transition. However, investors remain worried about near term fuel demand as the number of coronavirus cases continue to rise worldwide. Also, oversupply concerns capped gains as Libya, OPEC member, has added more than 1.1 million bpd of output since early September. Traders will also closely monitor OPEC+ informal online talks which will take place on Saturday ahead of formal meetings scheduled for next week. OPEC+ is debating whether to ease oil output cuts starting from January, as it previously agreed, or to continue producing at the same rate.

The Indian economy shrank 7.5% yoy in Q3 2020, less than expectations of an 8.8% drop, amid easing of lockdown restrictions from June, higher demand during festival season and a rebound in manufacturing and utilities. It follows a record 23.9% plunge in Q2, bringing the economy into recession for the first time on record. On the demand side, smaller decreases were recorded for private spending (-11.3% vs -26.7%); investment (-7.3% vs -47.1%), exports (-1.5% vs -19.8%) and imports (-17.2% vs -40.4%). On the production side, manufacturing (0.6% vs -39.3%) and utilities (4.4% vs -7%) rebounded and mining (-9.1% vs -23.3%); construction (-8.6% vs -50.3%); and trade, hotels (-15.6% vs -47%) fell less while finance, real estate and professional activities shrank faster (-8.1% vs -5.3%). The GDP is still seen contracting in Q4 as the pandemic is far from controlled and the government announced a $10 billion stimulus package in mid-October only.

European stock markets closed slightly higher in muted trading on Friday, with Frankfurt's DAX 30 gaining 0.4% to end at 13,336, its highest level since February 21st. Data showed the Eurozone economic sentiment indicator fell less than expected in November, while third-quarter GDP figures for France were revised higher. Meanwhile, EU Brexit negotiator Michel Barnier confirmed he is traveling to London tonight to continue face-to-face trade talks this weekend. On a more negative note, investors remained concerned about coronavirus-induced restrictions as Germany extended its lockdown until December 20th and France tightened rules for the hospitality sector until January 20th. At the same time, Hungary and Poland pledged to maintain their veto of the EU's budget and the pandemic relief fund, according to a joint statement released on Thursday. For the week, the DAX 30 gained 1.5%.