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The Sino – US tensions harmed the markets - Thursday Review, July 23

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The earnings season pushed the European markets higher.

The US

Yesterday the markets were reminded that the economic recovery is lagging as the number of infections increases daily. USA30 slumped 1.31%, while USA500 lost 1.23%. TECH100 fell by 2.29%.  

Oil traded at $41.85 per barrel, while Brent lost 9 cents to $44.20. 

Gold rose 0.6% to $1,888 per ounce – the highest it has been in nine years.

The Dollar Index slipped 0.7% to 94.585.


Asia and Australia

The Sino-US tensions are rising as each country ordered the other to close consulates. 

HongKong45 slid 0.08%.

Australia200 fell 0.16%

USD/JPY lost 0.28% to 0.7115.

USD/CNY gained 0.05% to 7.0066.


Europe

Europe put aside the high number of COVID-19 cases and focused on corporate earnings (Daimler, Unilever, Roche). Europe50 climbed 0.57%. Germany30 gained 0.64%, while UK100 added 0.58%.

EUR/USD was up 0.1% to $1.1583.

GBP/USD added 0.11% to 1.2753. 

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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.