Market Brief, Tuesday, 6th of October, 2020
President Trump has reportedly left the Walter Reed Medical Center and has returned to the White House before sending a positive message through a video stating that “people should not let the virus dominate them” and that he “feels great”.
The major US Stock Markets continued their recent rally and ended the session positively although the Nasdaq has yet to recoup it’s recent losses and is currently trading at 11.460. The outperformer was the S&P 500 which firmly broke above recent highs and is currently trading around 3400.
The Asian session continues its positive run following the risk appetite from the US. The ASX is up 0.2% and the Nikkei 0.4%. In China, the Hang Seng index is up 0.6%.
The dollar index fell below 93.50 following the risk-on sentiment in global markets supported by President Trump's positive health reports and talk of the COVID-19 aid bill being on track. The EURUSD closed in to the 1.18 handle trading as high as 1.1798 before retracing back to 1.1785 while the GBPUSD briefly traded above the 1.30 handle and is currently trading at 1.2990.
WTI and Brent had a positive session regaining some of the recent losses with the former trading at 39.29 and the latter at 41.39.
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