President Trump further fuels US-China tensions

Exclusive Capital Research Team

Exclusive Capital Research Team

See all articles

Market Brief, Tuesday, 8th of September, 2020

The major US indices recovered some of the last week's sharp losses which saw some of the worst 2 day declines in history. The Nasdaq traded higher around the 11500 levels, up from last weeks low of just under 11200 led by some gains in tech-giants. The S&P is also above last week's worst levels currently trading around 3434.

US President Trump made comments about the decoupling of the US economy from China saying that it would not lead to any monetary losses. There was also mention of massive tariffs and prohibition of federal contracts to US companies outsourcing to China.

In Asia, equity markets traded mostly positively following their US counterparts with China underperforming due to President Trump's comments. The Hang-Seng and Shanghai comp is down by 0.6 and 0.3% respectively.

In the FX space, the dollar index reclaimed the 93 levels and saw some mild gains with its main counterparts the EURUSD trading below the 1.18 handle and GBPUSD trading around 1.3130.

WTI and Brent continued their recent slide down to 39$ per barrel and 42$ per barrel respectively which sees them trading at 2-month lows.

Important Information: This communication is marketing material. The views and opinions contained herein are those of the author(s) on this page, and may not necessarily represent views expressed or reflected in other Exclusive Capital communications, strategies or funds. This material is intended to be for information purposes only and is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument.

Read our detailed Marketing Communication Disclaimer

SHARE

CONNECT WITH OUR TEAM

Explore the ways in which we can help you achieve your investment goals.

OUR PARTNERS
bdo

EXTERNAL AUDITOR

ey

LEGAL ADVISOR

lgt

CUSTODIAN BANK

efg

APPROVED PARTNER

Raiffeisen

DEPOSITORY BANK

Prime Fund

GROUP MEMBER