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Key economic readings moved global markets intensely - Tuesday Review, September 1

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
European markets traded mixedly after economic readings

The US

The benchmarks were on a roll yesterday, mostly driven by gains reported in the tech sector: #Zoom surged 40%, and #Apple reached a new record high. USA30 added 0.54%, while USA500 was up 0.58%. TECH100 jumped 1.28%. 

Brent Oil added 57 cents to $45.85 per barrel, and Oil gained 56 cents, trading at $43.17.  

Gold settled at $1,978.90 per ounce after it peaked at $2,000.  

The Dollar Index reached a two-week low as it settled at 91.737.


Asia and Australia

Markets ended in the red territory yesterday. HongKong45 lost 0.03% after the US announced another bilateral economic dialogue. 

Japan225 was down 0.25%, even though the Purchasing Managers’ Index (PMI) rose to 47.2 in the past month, from a previous 46.6. 

Australia200 slumped 2.17% ahead of the Reserve Bank's new policy decision.  

AUD/USD lost 0.08% to 0.7368.


Europe

The markets were mixed after the Eurostat report showed an increase in the Eurozone #unemployment rate. Europe50 was up 0.2%. UK100 lost 0.19%. Germany30 added 0.6%, and France40 went up 0.4%.

EUR/USD reached the strongest level it had since May 2018, #trading at $1.1999.

GBP/USD traded at $1.3470.

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Sources: investing.com, seekingalpha.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.