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There will be no stimulus package until after the US presidential election - Tuesday Review, October 6

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Miguel A. Rodriguez
Miguel A. Rodriguez
07 October 2020
The American and European markets reacted negatively to the news that there will be no stimulus package – at least for now

The US

The postponing of talks regarding another stimulus package until after the presidential election made the American benchmarks close in the red. USA30 fell 1.34%, while USA500 was down 1.4%. TECH100 fell 1.57%. 

Crude Oil settled at $40.67 per barrel after it went up 1.6%, while Brent climbed 1.7% to $42.65. 

Gold closed at $1,917 per ounce. 


Asia and Australia

Most of the Asian markets ended the session in the green as they focused on President #Trump’s discharge from the hospital. HongKong45 gained 0.56%.

Japan225 went up 0.39%.

Australia200 inched down 0.06% after the Reserve Bank decided to hold policy steady at its latest meeting. 

USD/JPY was at 105.62, approaching a three-week high. 


Europe

The halting of the talks about another stimulus package at the White House impacted the European markets also. Europe50 slipped 0.4%. Germany30 and France40 each fell 0.3%. UK100 lost 0.5%.

EUR/USD traded at 1.1773.

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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.