UK Government wins vote on Internal Market Bill

Exclusive Capital Research Team

Exclusive Capital Research Team

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Market Brief, Tuesday, 15th of September, 2020

The major stock market indices traded higher in the Monday session in the US with major tech giants showing strong performance with Tesla up by 12.5% and Apple up by 3%.

The Asian session was somewhat mixed with the ASX being marginally lower by 0.1% and the Nikkei down by 0.5%. In China, the Hang Seng and Shanghai Composite were up by 0.5 and 0.3% respectively following better than expected Industrial Production and Retail Sales data.

In the UK the UK government managed to win the Internal Market Bill which will now move to the Committee of the legislation process. The UK government managed to win the vote by 340-263 votes.

In the forex space, the dollar index was under pressure during Monday's session which caused it to slip back below the 93 levels with its major counterparts the EURUSD and GBPUSD trading around the 1.19 and 1.2870 levels.

WTI and Brent traded near last week's lows around 37.10 and 39.50 on-demand fears from the OPEC Monthly Oil Report and light damage caused by Hurricane Laura to energy infrastructure in the US.

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