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President Trump made global markets rejoice - Monday Review, October 5

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 October 2020
Stocks were up over the news that Donald Trump is being released from the hospital

The US

The market was driven by the news that President Trump can leave the hospital after he was admitted due to COVID-19 infection. USA30 was up 1.30%, while USA500 added 1.37%. TECH100 gained 1.70%.

Crude Oil went up 4.9% and settled at $38.87 per barrel. Brent went up 4.4% to $41 a barrel.

Gold ended the day at $1,920.45 per ounce after gaining 0.67%.


Asia and Australia

The right side of the Atlantic reacted positively over the news. After three days in the hospital, President #Trump was allowed to return to the White House. Japan225 rose 1.33%. 

HongKong45 went up 1.30% despite the experts warning that the fourth wave of #COVID-19 infections is in sight and could be the most severe yet.  

Down under, Australia200 soared 2.42% ahead of the Reserve Bank meeting. The market expects the Bank to keep the interest rates, and the three-year yield target unchanged at 0.25%. 


Europe

The hope of a new stimulus package and President Trump's discharge from the hospital made these markets rally. Europe50 added 0.8%. Germany30 gained 1.10%, while France40 ended the day 0.97% higher. 

EUR/USD added 0.57% to 1.1783.

Read about President Trump’s illness here!

Sources: marketwatch.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.