TikTok is still the talk of the town

08:41, 18 September 2020

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

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

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