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“Presidential Elections” – that’s on markets’ lips - Tuesday Review, November 3

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Miguel A. Rodriguez
Miguel A. Rodriguez
04 November 2020
Global markets maintain the election-induced momentum

The US

The markets rallied on elections day. Stocks went up boosted by hopes that a new stimulus package will be rolled out if Biden wins. USA30 jumped 2.06%, while USA500 was up 1.73%. TECH100 added 1.85%.

Crude traded at $36.98 per barrel after it gained 0.5%. Brent inched up 0.3% to $39.07.

Gold was flat at $1,892.50 per ounce.

 

Asia and Australia

HongKong45 went up 1.77% after the promising figures regarding the country’s manufacturing PMI were released.

Down under, Australia200 rose 1.79% ahead of the monetary policy that will be announced by the Reserve Bank.

 

Europe

To the momentum reported on the markets contributed not only the US presidential elections but also the earnings season. Promising results came from companies like Hugo Boss and IWG. Germany30 traded 0.6% higher. France40 went up 0.8%. UK100 climbed 1%.

EUR/USD closed at 1.1684 after it gained 0.4%.

Sources: reuters.com, investing.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.