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Lousy day for global equities - Wednesday Review, June 10

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Jerome Powell made the global markets move, but not in the right way.

The US

The FOMC meeting ended after two days of discussions, but the outcome wasn’t what the investors were rooting for. USA30 fell 1.04%, while USA500 lost 0.53%. TECH100, which moved against the current for the past few days, dropped by 0.67%.

Oil gained 66 cents to $39.60 per barrel. Brent Oil added 55 cents to $41.73 per barrel.

Gold settled at $1,720.70 per ounce.

The Dollar Index gained 0.38% to 96.315.


Asia and Australia

Markets across the ocean felt the impact of the FOMC meeting, which predicted a dark future for the American economy. 

Japan225 shed 1.25%.

HongKong45 fell 0.39%.

Australia’s ASX lost 2.19%.

USD/JPY declined by 0.01% to 107.08.

AUD/USD dropped by 0.82% to 0.6939.

USD/CNY gained 0.15% to 7.0704.


Europe

European benchmarks continued to decline for the third consecutive day after the FOMC meeting. France40 led the way, as it lost the most during yesterday’s trading session – 0.82%.

UK100 was off 0.10%.

Germany30 was 0.70% lower.

GBP/USD traded lower by 0.43% to 1.2691.

Do you want to know what drives the markets? Read more here!

Sources: investing.com, money.cnn.com, marketwatch.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.