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Markets continued their downward trend - Tuesday Review, June 9

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Markets moved chaotically, but the predisposition seems to be a slight decline

The US

The FOMC two-day meeting didn’t do much to move the markets, and the statements from President Trump seem to scare them off. USA30 shed 1.1%, while USA500 fell 0.8%. TECH100 moved against the trend and closed the session higher by 0.3%. 

The influence of the OPEC+ decision fade away, and the prices began to fall. Oil dropped by 0.65% at $37.94, while Brent Oil fell 1.08% to $40.36 per barrel.

Gold added 0.08% to settle at $1,723.25.

The Dollar Index lost 0.25% and settled at 96.365.


Asia and Australia

Asian benchmarks were mixed after the inflation data was released, which turned out to be below what analysts expected.

HongKong45 fell 0.06%.

Japan225 gained 0.03%.

Australia’s ASX added 0.32%.

USD/JPY lost 0.6%.

AUD/USD dropped 1% after reaching a ten-month high. 


Europe

Like in the OPEC+ case, the power of ECB’s decision started to wear off, causing the markets to retreat.

Europe50 fell by 1.5%. 

Germany30 continued to decrease and ended the trading session lower by 1.57%.

France40 lost 1.55%, after food & drugs, gas & water, and the financial sectors underperformed. 

UK100 shed 1.8%, as British American Tobacco forecasted a single-digit EPS.   

EUR/USD rose 0.43% to 1.1340.

EUR/GBP was up 0.34% to 0.8905.

GBP/USD traded at $1.2668 after it decreased from Monday's $1.2724. 

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