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Gains all over the world - Monday Review, May 18

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The idea that a viable vaccine against the virus could happen soon made the markets move significantly.

The US

Wall Street was on high-horses yesterday, after Moderna’s vaccine trial was a successful one, giving hope to investors: USA500 scored the biggest one-day gain in six weeks – 3.15%. TECH100 added 2.44%, while USA30 rose 3.85%.

Brent Oil went up by 1.24% to $35.21 per barrel. Oil added 2.7% to $32.69 a barrel.

Gold peaked at a seven-year high of $1,775.40.


Asia and Australia

In Asia, Wall Street gains continued, with some of the benchmarks reaching new levels. Japan225 went up 2% - the most significant increase since early March. 

HongKong45 gained 2%.

Australia’s ASX added 2%.

USD/JPY was at 107.40. 

AUD/USD gained 0.25% to $0.6540.


Europe

In Europe, not only the news of a future vaccine made the markets move, but also the easing of the containment measures, as in some countries, the number of infections seems to be under control and even decreasing. Europe50 was up 2%, while Germany30 rose 5.67%.

EUR/USD reached a two-week high at $1.0907.

EUR/GBP added 0.17% to 0.8960.

GBP/USD gained 0.1% to $1.2201.

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Sources: marketwatch.com, investing.com, cnbc.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.