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Market News 【TOP1 Morning】 USD and EUR climbed higher, crude oil bucked the market and closed down

【TOP1 Morning】 USD and EUR climbed higher, crude oil bucked the market and closed down

US stimulus bill led to higher US Treasury yields and increased market risk appetite. Affected by the uncertainty of the terms of service trade with the European Union, the pound led the decline, falling 1.0% to $1.3430.

TOPONE Markets Analyst
2020-12-29
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Forex market: The US dollar rose 0.03% to 90.29.


Due to increased risk appetite, the euro appreciated 0.43% against the yen to 126.77 yen, and the euro against the Swiss franc climbed 0.04% to 1.0858 Swiss francs. It rose to 1.0892 Swiss francs during the session.


The euro traded at US$1.2209 against the US dollar, depreciating 0.09%. The euro rose 1% to 0.9077 pence against the pound.


Andreas Steno Larsen, Nordea's global chief foreign exchange and interest rate strategist, said: "I think the market is slow but it is frankly confessing that this is not the best deal for the UK. This is just a very thin deal to prevent the UK-EU relationship from reaching the edge of a cliff , But there is still a big gap to be resolved in 2021, and frictionless trade is not guaranteed."


Gold market: Gold futures prices closed down.


A stronger U.S. dollar and rising global stock markets put pressure on gold prices. Gold futures prices fell 2.80 US dollars, or 0.1%, to close at 1880.40 US dollars per ounce.


After the bailout bill was signed, it boosted the risky market on Monday. Although the bailout bill is regarded as the support of gold because government expenditures will create pressure on the US dollar, some experts believe that the support for gold generated by the bill may have been reflected in the price, and even the slightly higher US dollar will eventually lower the price of gold. .


Crude oil: Crude oil futures prices reversed and closed lower.


WTI crude oil futures for February delivery fell 61 cents, or 1.3%, to settle at US$47.62 per barrel, an intraday high of US$48.96; Brent crude oil futures for February delivery fell 43 cents, or 0.8%, to settle at US$50.86 per barrel. .


Robert Yawger, head of the Energy Department of Mizuho Securities, reported that the rally dissipated in early trading today due to "a surge in confirmed cases of new crowns during the holiday, and the OPEC + meeting on January 4 may pass another 500,000 barrels per day."


US stocks: US stocks closed higher.


Travel, aviation, and cruise stocks rose, Apple led the rise, UMC's ADR soared by more than 4%, and the Dow Jones, S&P, and Nasdaq indexes hit record highs. The S&P 500 Index has risen 15.6% this year, the Dow Jones Index has risen 6.6%, and the Nasdaq has soared 43.7% so far.


The three major stock indexes all set record highs in intraday and closing history. The Dow Jones Industrial Average rose 0.68% to 30,403.97 points; the Nasdaq Composite Index rose 0.74% to 12,899.42 points; the US Standard & Poor's 500 Index rose 0.87% to 3,735.36 points.



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