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Some markets lost their momentum - Monday Review, June 8

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
American markets pushed the Asian ones higher.

The US

The American benchmarks moved higher after the lockdown measures eased in New York City and because the economy seems to recover. USA30 added 1.7%, while USA500 went up 1.20%.  TECH100 gained 1.13%.

Oil lost 3.4% or $1.36 to settle at $38.19 per barrel, this being the most significant drop since May 28. Brent Oil dropped by 3.5% or $1.50 to $40.75 per barrel, the most significant daily loss since May 27.

Gold lost 0.22% to $1,701.35

The Dollar Index was down 0.23%.


Asia and Australia

The Asian markets followed their American counterparts and ended the day in the green.

HongKong45 went up 1.6%.

Japan225 added 1.4%.

ASX added 2.6%.

AUD/USD traded at $0.7040 – a ten month-high.


Europe

The European market traded lower after industrial production for April went down almost 18%. Europe50 dropped 0.3%. Germany30 lost 0.22%, while UK100 fell 0.4%, while France40 shed 0.8%.

GBP/USD reached a three-month high after it traded at $1.2755.

EUR/USD traded at $1.1304.

EUR/GBP fell 0.09% to 0.8893.


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Sources: marketwatch.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.