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The economic readings pushed the markets over the edge - Thursday Review, September 17

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Miguel A. Rodriguez
Miguel A. Rodriguez
18 September 2020
The global markets don’t seem to show any signs of recovery after the pandemic

The US

The indices slumped yesterday amid concerns over weaker-than-expected labor and housing data. USA30 and USA500 fell 0.63% each. TECH100 slipped 1.56%.

Crude Oil gained 2% and settled at $40.97 per barrel. Brent was up 2.9% to $43.43 a barrel.

Gold lost 1.1% to $1,949.90.


Asia and Australia

Japan225 shed 0.63% after the Bank of Japan announced that it maintains its policy as it is.

Australia200 lost 0.86% even though the unemployment rate fell to 6.8% in August from 7.5% in July.  

HongKong45 fell 1.31% as the US-China tensions over #TikTok #app are still simmering.  

AUD/USD dropped 0.4% to 0.7278.

USD/JPY ended the day at 104.98.


Europe

After the FOMC meeting didn't shed any light over the economic recovery, the European benchmarks followed suit and ended in the red. Europe50 ended the day 0.96% lower. Germany30 traded 1.1% lower, and France40 lost 1%. UK100 was down 0.8%.

EUR/USD lost 0.4% at 1.1768.

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Sources: investing.com, reuters.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.