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Markets left behind last week’s sharp declines - Monday Review, August 23

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Miguel A. Rodriguez
Miguel A. Rodriguez
24 August 2021
After last week’s selloff, confidence remains brittle

The US

Wall Street rallied as investor sentiment was boosted by full FDA approval of a COVID-19 vaccine. Moreover, traders looked forward to the Jackson Hole Symposium expected later this week. USA30 rose 0.61%, while USA500 gained 0.85%. TECH100 added 1.55%, closing at an all-time high.

Crude oil traded 2% higher at $63.38 a barrel.

Gold rose 0.2% to $1.787.80 per ounce.

 

Asia and Australia

Stocks were up as investors bargain-hunted after the previous week’s selloff.

HongKong45 traded 1.27% higher, as China was looking to continue its regulatory tightening across sectors. Investors were monitoring the impact on Chinese and Hong Kong shares, which lost more than $560 billion in the previous week alone.

Japan225 jumped 1.38%.

Down under, Australia200 edged up 0.12%.

 

Europe

Markets traded higher, boosted by bargain-hunting after last week’s sharp decline. Still, the European economic data points to a slowing global recovery. Germany30 went up 0.1%, and France40 rose 0.6%. UK100 climbed 0.3%.

Brent oil rose 2% to $66.04 per barrel.

EUR/USD traded at 1.1710 after it gained 0.1%.

 

Sources: investing.com, reuters.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.