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Markets are bracing themselves for another round of quarterly earnings - Monday Review, February 1

Miguel A. Rodriguez
Miguel A. Rodriguez
02 February 2021
Global shares rally amid COVID-19 vaccine rollout, and expected tech earnings

The US

Stocks closed in the green as another busy week of quarterly results is in sight, with Amazon and Alphabet due to report in the following days. USA30 rose 0.76%, while USA500 was up 1.57%. TECH100 jumped 2.55%.

Crude oil traded 0.8% higher at $52.61 per barrel.

Gold closed at $1,864.60 per ounce after it went up 0.8%.

The Dollar Index was seen at 90.876.


Asia and Australia

As the Reserve Banks decided to inject more money into their countries battered economies, markets were up on Monday. Japan225 added 1.2%.

HongKong45 gained 0.70%.

Down under, Australia200 closed 0.62% higher after the RBA handed down its latest policy, and Perth was put into a five-day lockdown after a COVID-19 case was reported in the city.

USD/JPY traded at 104.772 after it went up 0.03%.



The benchmarks ended higher driven by the fact that the UK managed to vaccinate almost 9 million people. Also, the Eurozone manufacturing PMI edged to 54.8, topping expectations. Germany30 traded 1.2% higher, while France40 rose 1%. UK100 climbed 0.8%.

Brent oil rose 1% to $55.57 a barrel.

EUR/USD lost 0.3% trading at 1.2095.







Miguel A. Rodriguez
Miguel A. Rodriguez

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.