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The markets were driven by positive economic readings and corporate earnings - Monday Review, October 19

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Miguel A. Rodriguez
Miguel A. Rodriguez
20 October 2020
The new US stimulus package is nowhere in sight

The US

The markets ended in the red after the news that another stimulus package is not imminent. The announcement came just a couple of days ahead of the deadline imposed by the House Speaker Nancy Pelosi. USA30 fell 1.37%, while USA500 lost 1.56%. TECH100 slipped 1.46%.

Gold was up 0.1% at $1,902.19 per ounce.

Crude Oil traded 0.1% higher at $41.16 per barrel. Brent lost 0.1% to $42.90.

 

Asia and Australia

The benchmarks were higher after the economic readings showed that the Chinese GDP increased in the past quarter. HongKong45 gained 0.88%.

Japan225 went up 1.06%.

Down under, Australia200 closed 0.99% higher ahead of the Reserve Bank’s minutes.

 

Europe

Germany30 traded 0.6% higher, while France40 rose 0.9%. UK100 climbed 0.4%. The increase is due to the promising Q3 earnings that companies like Philips and Danone posted.

EUR/USD closed at 1.1723 after gaining 0.1%.

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.