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Key economic readings and Moderna’s vaccine had an impact on the global markets-Tuesday Review, November 17

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Miguel A. Rodriguez
Miguel A. Rodriguez
18 November 2020
Once again, COVID-19 takes over the markets.

The US

The retail sales came in lower-than-expected, showing weakness in the US consumer, causing the benchmarks to close in the red. USA30 lost 0.56%, while USA500 was down 0.43%. TECH100 inched down 0.21%.

Crude oil slipped 0.3%, settling at $41.27 per barrel.

Gold added 0.1% to $1,888.90 per ounce.

 

Asia and Australia

The markets traded mixedly, being boosted by the news regarding Moderna's potential COVID-19 drug. On the other hand, tighter restrictions were announced to curb the infection.

Japan225 gained 0.42%, reaching a 29-year high.

HongKong45 lost 0.01%.

Down under, Australia200 added 0.33%.

 

Europe

The benchmarks drifted lower amid the rising COVID-19 infections even though many European countries have entered lockdowns. Germany30 went down 0.1%, while France40 closed 0.2% lower. UK100 dropped 0.3%.

Brent oil lost 0.1% and traded at $43.81 per barrel.

EUR/USD closed at 1.1870 after gaining 0.1%.

Sources: investing.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.