FOMC melted the gains markets had this week - Thursday Review, June 11

FOMC melted the gains markets had this week - Thursday Review, June 11

Gold and USD were the stars of the trading session.

The US

The effects of Fed's decision started to affect the markets. The American benchmarks plummeted close to the lows they had on March 18. The fear of the second infection wave pumped up the investors' nervousness. USA30 fell 5.61%. USA500 lost 4.79%, while TECH100 shed 3.96%.

Oil had the most dramatic drop in six weeks, losing 8.2% to settle at $36.34 per barrel. Brent Oil dove 7.7% to $38.55.

Gold gained 1.1% to $1,739.80 per ounce.

The Dollar Index gained 0.4% to 96.318.


Asia and Australia

Asian markets fell after Oil extended its losses, and China announced it would continue with capital market reforms. The tense situation between the UK and China regarding Hong Kong didn't help the markets either.

Japan225 dropped 2.82%.

HongKong45 lost 2.06%.

Down Under, ASX closed down 3.04%.

AUD/USD ended the day at $0.6838 after it lost 1%, continuing Wednesday’s 2% fall.

USD/JPY was steady at 107.09.


Europe

Fed’s decision crossed the ocean and influenced the European markets, as well. Europe50 dropped 2.5%. For the second day in the row, France40 leads in the losses department – it fell 3%. UK100 shed 2.6%, while Germany30 traded lower by 2.8%.

EUR/USD fell 0.63% to $1.1297.

GBP/USD dropped 0.7% to $1.2656 from Wednesday’s $1.2812.

See how markets perform by reading the latest financial news!

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


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