Monday Overview - Markets celebrate hopes of a potential COVID vaccine

August 25, 2020

Stocks were boosted from hopes of a potential vaccine and the US-China relations

Europe

European stocks grew, boosted by hopes of a COVID-19 #vaccine available by November. Germany30 and UK100 climbed 1.4% higher. France40 also gained 1.8%.

EUR/USD reached 1.1810, gaining 0.1%.

GBP/USD traded at 1.3068.

The US

Hopes and announcements of a possible #COVID-19 vaccine grew the stakes. China also reaffirmed its commitment to the first phase of the trade deal. USA30 grew 1.36%, USA500 added 1.05% and TECH100 went up by 0.60%.

Oil added 0.9% and closed at $42.73 per barrel. Brent Oil was up 1.3% to $45.50.

Gold fell by 0.4% at $1,939.20 per ounce.

The Dollar Index traded at 93.30.

Asia and Australia

Japan225 added 0.26%, Prime Minister Abe Shinzo was seen going out for a second hospital visit in Tokyo, worrying the public regarding his health.

HongKong45 grew 1.64% while Australia200 added 0.04%. The state of Victoria reported 116 new cases of COVID on Monday, pointing that the recent #outbreak is subsiding.

USD/JPY traded at 105.97.

Sources: reuters.com, investing.com

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