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Gains, gains, gains for equities - Thursday Review, July 2

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The NFP and the prospects of a COVID-19 vaccine from Pfizer moved the markets.

The US

The positive NFP gave investors hope in an economic recovery, but the fact that yesterday the States reported a record number of infections – 55,000 – made the benchmarks take a step back. Still, they ended on the positive territory: USA30 gained 1.02%, while USA500 rose 1.04%. TECH100 added 1.10%. 

Oil went up 2.1% to $40.65 per barrel, while Brent climbed 2.4% to $43.05.

Gold was just one stone throw away from the $1,800 record it broke at the beginning of the week, as yesterday it traded at $1,790.90.

The Dollar Index slipped 0.05% to 97.248.


Asia and Australia

Japan225 gained 0.44%, erasing Wednesday’s lows caused by a drop of real estate and railway & bus sectors. Yesterday, alongside paper & pulp, shares flew higher. 

Yesterday was the first day when HongKong45 traded under the new security law. It jumped by 1.53%. 

Australia’s ASX went up 1.03%.

USD/JPY was up 0.04% to 107.53.

AUD/USD added 0.09% to 0.6928.

USD/CNY lost 0.01% to 7.0657. 


Europe

The American optimism descended upon European markets too. UK100 closed 1.3% higher, still behind its German and French counterparts. Germany30 rose 2.8%, while France40 climbed 2.5%.

GBP/USD slipped 0.05% to 1.2460.

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Sources: 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.