Market Brief, Friday, 17th of July, 2020
The Dow Jones index fell 0,5% on Thursday, posting its first daily decline in five days, as the weekly US jobless claims came in slightly worse than expected coupled with losses in the technology sector.
Asian markets traded mix on Friday morning, with the Chinese markets extending Thursday's sharp fall of 5%, due to the escalation of US-China tensions.
Crude oil prices lost 1% yesterday, following the decision of the OPEC group and its allies to roll back the record oil production cuts of 9.7 million barrels per day from August.
Gold prices lost 1% yesterday, breaking below the $1,800 per ounce key level, in response to the vaccine progress and stronger US dollar.
Looking at the forex market, we can see that the US dollar was stronger across the board yesterday, benefiting from the safe haven inflows after the record spike of COVID-19 cases in the US and the geopolitical tensions.
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