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

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
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


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.