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Gains boosted by the hope of a vaccine - Tuesday Review, July 21

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Positive data from Europe and the pharmaceutical sector drove the markets.

The US

While Europe will soon take advantage of the new stimulus program, the States can't say the same, as the lawmakers warned people not to hold their breath regarding the matter. However, the market wasn’t concern about it, and neither with the number of COVID-19 infection that exceeded 3.8 million. USA30 rose 0.6%, while USA500 gained 0.17%. TECH100 added 0.81%.

Oil traded 0.6% higher at $41.16 per barrel. Brent rose 0.7% to $43.60. 

The Dollar Index was down 0.1% at 95.718.


Asia and Australia

Asian markets were pushed by the positive news released about three potential COVID-19 vaccines. 

Japan225 rose 0.56%.

HongKong45 added 1.40%.

Down Under, Australia200 increased by 1.37%.

USD/JPY gained 0.1% and settled at 107.31.

AUD/USD went up 0.4% to 0.7039.


Europe

The newly approved stimulus package drove European markets higher. Germany30 and France40 both traded higher by more than 1%, at 1.6%, and 1.2%, respectively. UK100 was up 0.6%.

EUR/USD was up 0.1% and traded at 1.1446.

GBP/USD traded at 1.2687 after it gained 0.2%.

Check out what an analyst with more than 30 years of experience has to say about the market! Visit CAPEX.com!

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