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Markets rejoice over a potential COVID-19 vaccine - Monday Review, August 24

Markets rejoice over a potential COVID-19 vaccine - Monday Review, August 24

Stocks were boosted by a potential vaccine and the US-China trade

The US

The announcement of a possible vaccine for #COVID-19 moved the benchmarks higher. On top of that, China reaffirmed its commitment to Phase 1 of the trade deal. USA30 rose 1.36%, while USA500 added 1.05%. TECH100 went up 0.60%.

Oil gained 0.9% and settled at $42.73 per barrel, while Brent Oil was up 1.3% to $45.50.

Gold settled down 0.4% at $1,939.20 per ounce.

The Dollar Index traded at 93.30.

Asia and Australia

HongKong45 jumped 1.64% after the recent call between the country’s representatives and the US counterparts regarding the deal signed at the beginning of this year.

Japan225 added 0.26% as Prime Minister Abe Shinzo paid a second visit to a hospital in Tokyo, raising concerns about his health.

Down under, Australia200 inched up 0.04%, as the state of Victoria reported 116 new cases of COVID-19 infection on Monday, raising hopes that the recent #outbreak is subsiding.

USD/JPY traded at 105.97.

Europe

The stocks moved higher boosted by the prospects of a COVID-19 #vaccine available by November.

Germany30 and UK100 traded 1.4% higher. France40 rose 1.8%.

EUR/USD went up 0.1% to 1.1810.

GBP/USD traded at 1.3068.

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