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The uncertainty caused by the election made the markets rally - Thursday Review, November 5

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 November 2020
The world still expects an outcome of the US presidential election

The US

Markets jumped even though the outcome of the presidential election is still unknown. USA30 rose 1.95%, while USA500 was up 1.96%. TECH100 gained 2.59%.

Crude Oil was down 0.8% at $38.84 per barrel. Brent inched 0.6% lower to $40.96.

Gold was up 2.7% at $1,947.65 per ounce.

The Dollar Index was at 93.362.

 

Asia and Australia

The stocks were up, given that the world is expecting an outcome of the US presidential election. The promising quarterly gains reported by Alibaba increased the momentum. HongKong45 jumped 2.35%.

Japan225 rose 1.7%, reaching a nine-month high.

Down under, Australia200 inched up 0.99%.

USD/JPY settled at 104.38.

 

Europe

The markets rallied ahead of an official result from the White House. Moreover, the Bank of England announced more fiscal stimulus to support the economy. Europe50 added 0.3%. Germany30 went up 1.1%, while France40 closed 0.9% higher. UK100 climbed 0.2%.

EUR/USD traded at 1.1759 after it gained 0.3%.

GBP/USD lost 0.3% to 1.2941.

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.