Daily Market Updates 28.09.2020
Monday 28.09.2020
Asian Session
Asian equities started higher this week amid hopes over a possible coronavirus vaccine, along with American new stimulus package to confront worsening pandemic. South Korea’s Kospi index closed on Friday by 0.65% higher, while Hong Kong’s Hang Send index declined by 0.43%. Nikkei index advanced higher by 0.51% and Shanghai index lost 0.12%.
| Asian Stock | Closed |
| Nikkei | +0.51% |
| Hong Kong HSI | -0.43% |
| China Shanghai SSE | -0.12% |
| KOSPI – South Korea | +0.65% |
US Stocks
For fourth consecutive weeks US equities on stock market kept falling, however this at the beginning of this week market starts rising, as the technology sector is trying to rebound from the recent deep. Dow Jones advanced by 100 points, while SP500 on futures added 0.3% and Nasdaq jumped by 0.3%.Investors continue to monitor the developments on further fiscal stimulus and there is a possibility that new package is going to be achieved by this week.
| U.S Stocks | Closed |
| DOW | +1.34% |
| S&P500 | +1.6% |
| NASDAQ | +2.26% |
Major Currencies
FX Strategists at UOB Group noted EUR/USD could have now entered into a consolidative phase. Last week the pair lost almost 250 pips as dollar got stronger against its major counters. Euro plunged to 1.1615 where it is currently trader, its lowest level since late July and posted an interim top at 1.2011 and heads lower, with 1.1500 at sight, as the greenback’s positive momentum will likely extend heading into the next NFP report release, FXStreet’s Chief Analyst Valeria Bednarik reports. Cable might attempt a consolidative range ahead of potential extra downside in the next weeks, in opinion of FX Strategists at UOB Group. GBP/USD probes the upper end of 1.2772/51 trading range and BOE policymaker defends negative rates, no-deal Brexit can result in one million job losses. Yen stop pushing higher since the support level of 104.22 against dollar, however today gained some ground amid hopes over a coronavirus vaccine. USD/JPY bulls struggle to make headway above critical support.
Gold Market
Spot gold price was little changed at $1,860.19 per ounce by early trading session, while US gold on futures market were down by 0.1% at $1,864.50 per ounce. The dollar index was down 0.1% against rivals, slightly off a two-month peak hit in the last session. Gold investors are waiting for new US stimulus package to send gold price again to the recent highs, otherwise $1800 support level plays significant role.
Oil Market
Brent crude fell 23 cents, or 0.6%, to $41.69 per barrel by early trading session after falling 2.9% the week passed. US West Texas Intermediate crude oil was at $40.04 per barrel, down 21 cents or 0.5%, following a 2.1% decline last week. New COVID-19 case numbers are accelerating in major U.S. states, renewing fears of mobility restrictions
European Stocks
The pan-European Stoxx600 index closed even lower by 3.7% the previous week, after a choppy session, with global markets being concerned by a resurgence in coronavirus cases globally. EU stocks are set to open higher this week and eyeing to rebound from June losses, with global coronavirus cases and political developments, stateside on investors randar.
On the data front 28-09-2020
| Time (GMT+3) | Event | Impact |
| 16:45 pm | EUR ECB’s President Lagarde speech | High |
| 17:30 pm | USD Dallas Fed Manufacturing Business Index (Sep) | Low |
| 18:30 pm | USD 6-Month Bill Auction | Low |
