The US stock markets resume higher while the dollar loses further ground

Exclusive Capital Research Team

See all articles

Market Brief, Wednesday, 19th of August, 2020

The major US stock markets continued their rally with the Nasdaq making a new record high in the early trading hours of the session hitting as high as 11,400. 

US house speaker Pelosi stated that Democrats would be willing to half their demands on COVID-19 to get a new economic stimulus package agreed as US cases increase to 5.5 million 

Asian equity markets traded mixed following weak data from Japan and continued US-China tensions with President Trump stating he postponed talks with China. The ASX and Nikkei gained 0.8% and 0.2% respectively while in China the Shanghai composite traded lower by 0.3%. 

The Dollar Index made new 2-year lows to 92.13 ahead of the FOMC minutes later in the day. The EURUSD is currently trading just under the 1.20 level while GBPUSD eased off around 1.3250 after making new 8-month highs at 1.3265  

Crude oil is trading sideways as market participants are awaiting today's inventory reports. WTI crude is currently trading around 42.60 and Brent trading around 45.10. 

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