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The economic readings made global markets react mixedly - Wednesday Review, September 30

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Miguel A. Rodriguez
Miguel A. Rodriguez
01 October 2020
Investor hope regarding a post-pandemic economic recovery differs across the world

The US

The benchmarks rallied after the ADP Non-Farm Employment report showed that the private sector created 749,000 jobs in the past month, topping the 650,000 expected. USA30 added 1.20%, while USA500 was up 0.83%. TECH100 rose 0.74%.

Crude Oil settled up 2.4% to $40.22 a barrel, while Brent fell 0.2% to end the day at $40.95.

Gold gained 0.4% and settled at $1,895.50 per ounce. 

The Dollar Index ended the day flat at 93.92.


Asia and Australia

Japan225 was down 0.17%, despite the 1.7% growth reported in industrial production. The result topped the 1.5% forecasted. 

HongKong45 jumped 1.58% after the Manufacturing PMI actual figures beat the expected 51.2. 

Down under, Australia200 lost 0.87%, and AUD/USD was down 0.05% to 0.7124.


Europe

Despite the data reading showing an improvement of the countries’ economies, the markets ended the day in the red. Germany30 traded 0.6% lower, even though retail sales rose more than expected.

France40 fell 0.6%, while UK100 traded 0.2% lower, although data showed that the economy contracted less-than-expected. 

EUR/USD lost 0.1% to 1.1730, after Christine Lagarde, ECB President, hinted at a possible softer inflation target.  

Read more about what made the markets move on Wednesday 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.