Daily Market Updates 17.08.2020
Monday 17.08.2020
Asian Session
Asian equities were mixed this morning due to the tensions between U.S.A and China relations. Japan’s index Nikkei 225 has lost -0.83% to 23,096.75, while Hong Kong’s Hang Seng HSI rose +0.65% to 25,347.34. In South Korea, the Kospi index fell -1.23% to 2,407.49 and the Shanghai Composite index gained +2.34% to 3,438.80.
| Asian Stock | Closed |
| Nikkei | -0.83% |
| Hong Kong HSI | +0.65% |
| China Shanghai SSE | +2.34% |
| KOSPI – South Korea | -1.23% |
US Stocks
Due to the economic uncertainty the US stocks traded mixed. According to Brian Price head of investments for Commonwealth Financial Network, there’s still a lot of uncertainty with regard to the overall economy, as well as the increase in case count that we’ve seen over the past month or so. The Dow Jones Industrial Average rose by 34.30 points or +0.12%, S&P500 fell -0.58 points, a loss of -0.017% and Nasdaq fell by 23.20 points a loss of -0.21%. For the week, the Dow Jones rose 1.8%, the S&P500 added 0.6% and Nasdaq gained 0.1 per cent.
| U.S Stocks | Closed |
| DOW | +0.12% |
| S&P500 | -0.017% |
| NASDAQ | -0.21% |
Major Currencies
Euro/Dollar is currently trading at 1.1864 and it has finished the seventh consecutive week with gains. Australian Dollar against US Dollar is currently trading at 0.7180. The big picture from technical point of view is that it remains contained in its previous 5 days range. GBP/USD is currently trading at around 1.31 and a second consecutive week has been closed in 1.3080 area. EUR/JPY is currently trading at 126.109 and it closes a 5th straight week of gains. The EUR/CHF is currently trading at 1.075 and it is in a sideway consolidation without a sign of breakout yet.
Gold Market
The price of gold on this morning was down and currently is trading at $1950. Last week was the worst week in the last five months in which the yellow metal has fallen 4.5%. Daniel Pavilions the senior commodities broker at RJO Futures state last week “We’ve already seen decent-sized bounce. Next week, we’ll begin to see some volatility and ultimately move higher. Don’t think the rally is done,” Pavilonis noted. “If you are on a big bullish momentum move, you will see pretty big selloffs followed by bounces up. It is good that we sold off quickly and support held — it is a test to how strong the trend really is. We can go higher now.”
Oil Market
Benchmark U.S. crude oil for September delivery CLU20, fell 23 cents to $42.01 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil for October delivery BRNV20 fell 16 cents to settle at $44.80 a barrel.
European Stocks
There was a fluctuation in the price of European Equities this morning due to the travel restrictions, geopolitical tensions, and the fear of the spread of coronavirus. In this morning the Europe Stoxx 600 index was up 0.12%, Germany’s DAX index +0.076%, FTSE index +0.42% and CAC40 index +0.036%.
On the data front 17-08-2020
| Time (GMT+3) | Event | Impact |
| 03:30 pm | CAD Foreign Securities Purchases | Medium |
| 05:00 pm | USD NAHB Housing Market Index | Medium |
| 11:00 pm | USD TIC Long-Term Purchases | Medium |
