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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Asia Morning Dec 8

Article By: ,  Financial Analyst
December 7, 2020 7:01 PM

Asia Morning: US Stocks Mixed, GBP/USD Sees Volatile Trading

On Monday, the three major U.S. indices ended mixed. The Dow Jones Industrial Average lost 148 points (-0.5%) to 30069 and S&P 500 fell 7 points (-0.2%) to 3691, while Nasdaq 100 rose 68 points (+0.5%) to 12596. 

Nasdaq 100 Index Daily Chart:

Source: GAIN Capital, TradingView


Consumer Durables & Apparel (+1.0%), Technology Hardware & Equipment (+0.9%) and Media (+0.7%) were the best performing sectors on the day, while Energy (-2.4%), Insurance (-1.6%) and Real Estate (-0.9%) sectors dropped the most.

Approximately 93% of stocks in the S&P 500 Index were trading above their 200-day moving average and 77% were trading above their 20-day moving average. The VIX Index jumped 0.57pt (+2.7%) to 21.36.

European stocks were mixed. The Stoxx Europe 50 slipped 0.3%, Germany's DAX dipped 0.2% and France's CAC 40 slid 0.6%, while the U.K.'s FTSE 100 gained 0.1%.

The benchmark U.S. 10-year Treasury yield retreated to 0.9228% from 0.9659% Friday.

WTI crude futures lost 1.2% to $45.76 a barrel.

Spot gold jumped 1.3% to $1,862 an ounce, the highest level since November 20.

On the forex front, the ICE U.S. Dollar Index edged up 0.1% to 90.87.

GBP/USD saw volatile trading as it marked a day-low of 1.3225 before paring some losses to 1.3364, down 0.5%. U.K. Prime Minister Boris Johnson will meet European Commission President Ursula von der Leyen in Brussels, as "significant differences" remain unresolved.

EUR/USD slipped 0.1% to 1.2113. Official data showed that German industrial production grew 3.2% on month in October (+1.6% expected).

USD/JPY fell 0.1% to 104.01. This morning, government data showed that Japan's household spending increased 1.9% on year in October (+2.8% expected).

Commodity-linked currencies were broadly lower against the greenback. Both AUD/USD and NZD/USD edged down 0.1%, while USD/CAD added 0.1%, snapping a four-day decline.

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