Market Brief, Tuesday, 29th of September, 2020
The major US Stock Markets traded higher on Monday's session firmly breaking last week's high. The Nasdaq and S&P500 gained 2.35% and 1.92% respectively.
The Asian session was subdued in contrast to its US counterparts with the ASX being unchanged while the Nikkei saw mild gains of 0.4%. In China, the Hang Seng was lower by 0.4% while the Shanghai composite gained 0.5%.
In the US, House Democrats proposed a new 2.2 trillion dollar relief package, announced by House Speaker Pelosi as talks are set to continue between Pelosi and Treasury Secretary Mnuchin today.
The dollar index traded lower amid risk-on sentiment although it held on to the 94 handles. The EURUSD traded as high as 1.1683 and is now at 1.1673 while the GBPUSD is currently trading around 1.2860.
WTI and Brent are still trading sideways without much volatility. WTI is trading above the 40$ per barrel level at 40.33 while Brent is trading at 42.23.
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