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.
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