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Market Brief: US Shrug Off AMZN’s Miss, Approach Record Highs
View our guide on how to interpret the FX Dashboard.
US officials struck an optimistic tone on the “Phase One” trade deal with China, noting that they were close to finalizing some sections of the agreement following a call between the two trade teams.
The EU and UK remain at loggerheads over a possible Brexit extension, with each side waiting for the other to clarify its position before making a decision – watch for fireworks over the weekend and early next week!
FX: The Canadian dollar was the strongest major currency on the day, while the New Zealand dollar brought up the rear.
Commodities: Oil gained nearly 1% today. Gold was essentially flat.
Bitcoin and other cryptoassets surged more than 10% after Chinese President Xi Jinping endorsed blockchain technology.
US indices closed solidly higher in a risk on day, within striking distance of July’s record highs.
Technology (XLK) was the strongest major sector again today, gaining more than 1%. REITs (XLRE) were the weakest with a more than -1% loss.
Stocks on the move:
Intel (INTC) gained 8% following an earnings “trifecta” (beat on profits, revenues, and raised guidance).
Amazon (AMZN) gapped sharply lower but ultimately closed down just -1% after missing on both earnings and guidance after the bell yesterday.
*There are no high-impact macroeconomic events scheduled for release during Monday’s Asian session trade.
Original from: www.forex.com
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