Promising start for the global markets - Monday Review, August 10

Promising start for the global markets - Monday Review, August 10

The Sino-US tensions continue to rise

The US

The American benchmarks rallied yesterday despite the lack of consensus between the Republicans and Democrats regarding the next stimulus package. The rising Sino-US tensions should have added fuel to the fire, but the indices didn’t budge. USA30 rose 1.3%, and USA500 gained 0.29%. TECH100 jumped 0.39%.

Brent was up 0.47% at $45.20 per barrel, and Oil rose 0.76% to $42.26.

The Dollar Index added 0.13% reaching 93.537.

Gold gained almost 2% and settled at $2,030.30 per ounce.


Asia and Australia

HongKong45 fell 0.37%, even though China reported an easing in July’s factory deflation.

Australia200 jumped 1.41%.

USD/JPY traded at 106.06.


Europe

The European market was boosted by the positive data from the Chinese industrial sector, which is considered a sign of recovery from the pandemic. Europe50 rose 0.6%.

Germany30 added 0.10%, while UK100 went up 1%.

EUR/USD lost 0.28% to 1.1753.

EUR/GBP slipped 0.65% to 0.8982.

Over time, tensions between China and the US have affected the markets. Read more about it here!

Sources: reuters.com, investing.com


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