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COVID-19 took over the markets - Wednesday Review, July 8

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Wall Street overlooks the pandemic. The rest of the world is sinking.

The US

The markets put behind the record spikes in the number of new cases, and focused on the weak, but still there, economic rebound. USA30 added 0.68%, while USA500 gained 0.78%. The technological sector went up the most, making TECH100 end the day higher by 1.44%. 

Brent Oil dropped 0.12% to $43.23, while Oil lost 0.20% to $40.82.

Gold ended yesterday’s trading session trading at $1,820.0 after it gained 0.6%. 

The Dollar Index was up 0.1% at 96.873.


Asia and Australia

Asian stocks were lower yesterday, as the rising number of infections unsettled the markets. Japan225 lost 0.78%.

USD/JPY slipped 0.04% to 107.47. 

HongKong45 was down 0.06%, as the city goes through the third wave of infection. 

Down Under, ASX dropped 1.54% after Melbourne re-imposed the lockdown measures to contain the rise of COVID-19 cases.

AUD/USD lost 0.11% to 0.6938.


Europe

The fear caused by the new increase in the number of infections reached Europe. The continental benchmark, Europe50, lost 0.4%.

UK100 fell 0.4%, after a package of measures worth $2.5 billion was announced by Chancellor Rishi Sunak.

France40 went down 1.24% as foods & drugs, general financial, and water & gas sectors underperformed. 

Germany30 declined by 0.97%.

EUR/USD gained 0.59% to 1.1336.

EUR/GBP added 0.12% to 0.8995.

GBP/USD went up 0.4% to $1.2592.

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Sources: reuters.com, marketwatch.com, investing.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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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.