The States were in for a treat yesterday after the Bureau of Economic Analysis reported an economic contraction of 32.9% in Q2. On top of that, the weekly unemployment claims figures reached 1.434 million. USA30 closed 0.9% lower, while USA500 lost 0.4%. TECH100 was immune to the news and ended the day 0.4% higher.
Gold reached an all-time high of $1,980 per ounce.
Asia and Australia
The Asian markets were mostly up, as they didn’t budge over the FED decision of keeping the rates steady. Japan225 lost 0.26%.
HongKong45 was up 0.73%.
Down Under, Australia200 rose 0.93%, even though the existing lockdown measures could be extended to curb the spread of COVID-19.
USD/JPY gained 0.13% to 105.05.
AUD/USD lost 0.62% to 0.7141.
The European benchmarks underperformed yesterday moved by generally weak corporate financial reports. Germany30 traded 1.9% lower after data from Destatis showed that the German GDP fell by 10.1% in the past quarter.
EUR/USD was down 0.3% at 1.1757.
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Sources: forexfactory.com, investing.com, marketwatch.com