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There could be targeted stimuli packages in the US - Wednesday Review, October 7

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Miguel A. Rodriguez
Miguel A. Rodriguez
08 October 2020
President Trump revised his decision of approving no stimulus package until after the presidential election

The US

After halting the talks regarding a new stimulus package, President #Trump announced that he would approve several smaller but targeted #stimuli packages. The focus was on the one meant for airlines. After the news, USA30 rose 1.91%, while USA500 went up 1.7%. TECH100 gained 1.88%.

Crude Oil fell 2.02% to $39.85 per barrel, while Brent lost 1.92% to trade at $41.83.

Gold lost 1% to $1,889.70 per ounce. 


Asia and Australia

The benchmarks ended mostly higher; investor hope being driven by President Trump’s proposals of new fiscal stimuli. HongKong45 rose 0.47%. 

 Japan225 dropped 0.33%.

Down under, Australia200 was up 0.87% after the new government’s budget was released. It contains billions of dollars in domestic tax cuts and spending initiatives. 

USD/JPY was up 0.24% to 105.88.


Europe

The markets were mixed after ECB President Christine Lagarde’s speech. She warned about the possibility that the long-touted V-shaped recovery won’t happen.  Europe50 lost 0.12%. Germany30 gained 0.17%, while France40 climbed 0.4%.

EUR/USD was up 0.32% to 1.1771.

Sources: investing.com, marketwatch.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.