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Markets are fearful of recent events -Thursday Review, May 28

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The current political events put the majority of benchmarks in red territory.

The US

The American benchmarks lost ground after President Trump said he would hold a conference regarding the situation with China. USA30 lost 0.58%, while USA500 fell 0.21%. TECH100 dropped by 0.46%.

Oil managed to recover some of the Wednesday losses, rising 3.84% to $34.07 per barrel. Brent Oil added 5.43% to $36.48 a barrel. 

Gold continued the Wednesday gains and went up 0.39% to $1,717.30 per ounce.   

ICE lost 0.70% and settled at 98.362. 


Asia and Australia

In anticipation of Donald Trump's speech, stocks in Asia fell after Beijing passed the bill regarding Hong Kong. JAPAN225 lost 0.3%. 

HongKong45 fell 0.3%. 

USD/JPY was at 107.67. 

Australia’s ASX lost 0.8%. AUD/USD moved against the current and traded at $0.6630, approaching a two-month high.


Europe

In Europe, markets moved in the green territory after a 250 billion Euros stimulus got announced by the EU Commission. Germany30 rose 1.06%. UK100 gained 1.21%, and France40 added 1.76%.

EUR/USD traded at $1.1090 being close to its lowest point reached on March 30.

EUR/GBP gained 0.08% to 0.8986. 

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 Sources: marketwatch.com, cnn.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.