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Lethargy on the international markets - Thursday Review, July 16

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Pressured by negative news, the markets lost momentum.

The US

Yesterday's unemployment claims that came higher than expected elevated concerns about the economy's state – roughly 32 million are unemployed due to the pandemic. The increasing number of infections doesn't help paint a hopeful picture. USA30 fell 0.5%, while USA500 lost 0.34%. TECH100 dropped 0.73%.

Brent Oil lost 18 cents to trade at $4.61 per barrel. Oil dropped 29 cents and settled at $40.91.

Gold slid 0.7% settling at $1,800.30 an ounce. 

The Dollar Index gained 0.1% to 96.104.


Asia and Australia

The Asian markets were down yesterday, even though China posted economic growth of 3.2% in the second quarter despite the pandemic. HongKong45 fell 1.41%.

Japan225 lost 0.75%.

Down Under, Australia200 dropped 0.80% as parts of the country are in lockdown again, and could drive the market into recession.  

USD/JPY pair gained 0.06% to 106.98.


Europe

The European markets reacted to the “wait and see” scenario revealed by the ECB yesterday. Europe50 and UK100 fell 0.9% each. 

Germany30 lost 0.43%. France40 slipped 0.46%. 

EUR/USD was at 1.1398 after it fell 0.1%.

GBP/USD lost 0.3% to 1.2544.

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Sources: seekingalpha.com, investing.com

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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. 

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