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The vaccine-induced rally continues - Tuesday Review, November 24

Miguel A. Rodriguez
Miguel A. Rodriguez
25 November 2020
The global markets rebound as Biden’s transition lifts investors hope

The US

The progress reported by the pharma companies to deliver a COVID-19 vaccine caused the benchmarks to close in the green. The fact that Trump finally agreed with the transition of power at the White House added momentum. USA30 went up 1.54%, reaching its highest level since March. USA500 added 1.62%, while TECH100 inched up 1.31%.

Crude Oil closed 1.5% higher at $43.69 a barrel.

Gold settled at $1,804.60 per ounce after it lost 1.8%.

The Dollar Index traded at 92.235.


Asia and Australia

The benchmarks edged higher as President-elect Joe Biden received the formal go-ahead to begin his transition to the White House. Gains in the energy, real estate, and financial sectors contributed to the surge.

Japan225 surged 2.5%, reaching its highest level since May 1991.

HongKong45 went up 0.6%.

Down under, Australia200 closed 1.26% higher.



The markets ended higher as they are enthusiastic about the progress towards a viable COVID-19 vaccine. Also, one of the largest European economies posted a GDP rebound in Q3. Germany30 and UK100 each traded 0.6% higher. France40 rose 0.9%.

Brent Oil gained 1.1% to $46.57 per barrel.

EUR/USD closed at 1.1877 after it went up 0.3%.







Miguel A. Rodriguez
Miguel A. Rodriguez

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.