Jerome Powell’s speech moved the markets - Thursday Review, August 27

By: Miguel A. Rodriguez

09:45, 14 September 2020

The Sino-US tensions are still simmering

The US

The benchmarks traded mostly higher driven by the #Federal #Reserve's decision to adopt a 2% inflation target and restore full employment. USA30 rose 0.57%, and USA500 added 0.17%. TECH100 dropped 0.34%.

Oil added 0.1% to $43.42 per barrel, while Brent rose 0.3% to $46.29. 

Gold lost 1% and settled at $1,932.60 per ounce. 

The Dollar Index jumped to 93.30.  

Asia and Australia

The #stocks traded predominantly lower amid rising #tensions between the US and China. Yesterday, China fired four medium-range ballistic missiles into the South China Sea as part of a military exercise. Also, yesterday, the US sanctioned 24 Chinese companies.

HongKong45 fell 0.88%.

Japan225 was down 0.44%.

Down under, Australia200 gained 0.46%. 

USD/JPY climbed to 106.57.


Losses were minor ahead of the Fed meeting, mostly driven by Rolls-Royce and Holdings. Germany30 lost 0.71%. France40 and UK100 dropped by 0.2%. 

EUR/GBP traded 0.2% lower at 0.8952.

EUR/USD added 0.1% at 1.1835.

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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.