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

By: Miguel A. Rodriguez

13:16, 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. 


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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