Weekly Market Review 29/01/2021 - Economic data from Europe, Japan and the Speculative Trading from United States were in Focus

Trading | 7 months ago

Weekly Market Review 29/01/2021 - Economic data from Europe, Japan and the Speculative Trading from United States were in Focus - tradeglobalmarket

In the weekly market review segment, we discuss about the latest happening in the European, Asian and American market.

US Market Review

US Stocks Posted Steep Loss in Wake of Speculative Trading through the social news aggregation and discussion platform Reddit. Lot of US stock indexes posted the biggest one-day percentage drop this week. In the cash market, the benchmark S&P 500 Index was down to -2.93%. The blue-chip Dow Jones Industrial Average was down to 2.31% and the tech-weighted NASDAQ Composite was down to -3.19%.

European Market Review

Europe is struggling with the extended lockdown measures. These lockdown measures affected the household consumption in France and Germany particularly.

It was a relatively bullish week for the European majors. The CAC40, DAX30 and the EuroStoxx600 rose marginally. French consumer spending and German unemployment figures had an influence on EUR and the EUR was down by 0.09% to $1.2111.

Asian Market Review

Tokyo core consumer prices fell by 0.4% in January as compared to the last year. The industrial production also fell by 1.6%. according to the ministry of economy Trade and Industry, the production of motor vehicles, general purpose and business-oriented machinery, and equipment used in electrical machinery decreased.

However, transport equipment excluding motor vehicles, some chemicals and metal production increased. Due to these factors the Japanese Yen was down by 0.21% against the U.S Dollar.

The major Asia-Pacific stock indexes were down as many investors booked profit. In Japan, the Nikkei 225 Index was down to -1.89%. Hong Kong Hang Seng Index was down to -0.94% and South Korea’s KOSPI Index was down to -3.03%.

In China, the Shanghai Index was down to -0.63% and Australia’s S&P/ASX 200 Index was down to -0.64%.


Australian Market Review

Australian market was spooked due to the coordinated assault by small traders in the United States caused the sharp volatility in some stocks. The Aussie Dollar down by 0.16%. Rio Tinto fell 3% while BHP dropped 1.6%.


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