Market Brief, Wednesday, 30th of September, 2020
The major US Stock Markets erased previous gains in the aftermath of the first Presidential Debate as previous VP Biden and current President Trump exchanged bitter remarks. The Nasdaq and S&P500 are currently trading near their session lows at 11,250 and 3,316 respectively.
The Asian session was mixed as a combination of Chinese PMI data and the Presidential debate saw a decoupling in Asian stock exchanges. The ASX and the Nikkei lost some ground with the former trading 1.3% and the latter 0.8% lower In China, the Hang Seng was the outperformer being up by 1.3% while the Shanghai composite is higher by 0.5% mainly due to better than expected Chinese PMI’s.
The dollar index traded higher and gained on some of its previous losses as risk-off sentiment helped it trade close to the 94 handle. The EURUSD traded as high as 1.1755 and is currently trading around 1.1732 while the GBPUSD is currently trading around 1.2883.
WTI and Brent broke their recent range to the downside with WTI trading below the 40$ per barrel level at 98.87 while Brent is trading at 40.56.
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.