Rebound day for the US indices - Wednesday Review, May 27

Rebound day for the US indices - Wednesday Review, May 27

The American-Chinese dispute has different effects on the markets.

The US

The American benchmarks rallied yesterday, as the country slowly resumes its economic activity. Moreover, the markets weren’t concerned about the tension between the States and China. USA30 ended the session by being 2.2% higher. USA500 added 1.5%, while TECH100 gained 0.8% - the biggest intraday percentage since February.

After the IEA report about the global energy situation, Oil lost 4.4% to settle at $31.37 per barrel. Brent Oil dropped 3.2% to $33.64 a barrel.

Gold was up 0.15% to $1,708.10 per ounce.

ICE added 0.04% to settle at 98.948.


Asia and Australia

HongKong45 lost 0.23%, as concerns about the relation between China and the US are still lingering.

Japan225 rose 2.01% - the most significant gain since late February, as the country is resuming its activity.

Australia’s ASX went up 2.22% - the highest it has been in more than two months.

AUD/USD traded at $0.6621.

USD/JPY traded at 107.72.

USD/CNY reached the lowest level since September, trading at 7.1595.


Europe

The European benchmarks continued gaining also on Wednesday. Europe50 added 0.7%, reaching the highest level it has since March 10. UK100 was up 1.26%. Germany30 gained 1.33%, while France40 scored 1.79%.

EUR/USD reached two-month highs at $1.1031, as the European Commission proposed a second stimulus package for the EU.

GBP/USD was at $1.2263.


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Sources: marketwatch.com, investing.com, money.cnn.com


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