Crude oil muted ahead of Inventory Report

Exclusive Capital Research Team

Exclusive Capital Research Team

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Market Brief, Wednesday, 23rd of September, 2020

The major US stock markets recovered some of their losses to trade off their recent downtick. The Nasdaq is currently trading around 11160 while the S&P and Dow Jones are trading at 3318 and 270430.

The Asian session was subdued following the long weekend in Japan. The ASX is leading the gain with 2.1% led by tech names while the Nikkei is down by 0.4%. In China, the Hang Seng is down by 0.2% while the Shanghai Composite is unchanged.

The dollar index traded above 94.00 boosted by the breakthrough in Congress over the stopgap funding bill. The EURUSD dropped below 1.17 and is currently trading around 1.1685 while GBPUSD is trading around 1.2724.

WTI and Brent traded sideways on Monday as investors are waiting for the weekly crude oil report later today. WTI and Brent are currently trading around 39.52 and 41.50 respectively.Crude oil muted ahead of Inventory Report

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