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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 Nov 19

Article By: ,  Financial Analyst
November 18, 2020 8:11 PM
On Wednesday, U.S. stocks gave up earlier gains to closed at session lows. The Dow Jones Industrial Average slid 344 points (-1.16%) to 29438, the S&P 500 dropped 41 points (-1.16%) to 3567, and the Nasdaq 100 was down 82 points (-0.69%) to 11894.


S&P 500 Index (Daily Chart) : Consolidating Recent Gains

Sources: GAIN Capital, TradingView


Market sentiment was dampened by New York City's decision to close public school indefinitely in view of increasing coronavirus cases.

Energy (-2.88%), Utilities (-1.94%) and Pharmaceuticals, Biotechnology & Life Sciences (-1.79%) sectors performed the worst. Lowe's (LOW -8.21%), Norwegian Cruise Line (NCLH -7.25%), Phillips 66 (PSX -5.58%) and Valero Energy (VLO -5.36%) were top losers.

Approximately 90% (in line with the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 85% (88% in the prior session) were trading above their 20-day moving average.

European stocks remained firm. The Stoxx Europe 600 gained 0.44%, both Germany's DAX and France's CAC 40 climbed 0.52%, and the U.K.'s FTSE 100 added 0.31%.

The benchmark U.S. 10-year Treasury yield ticked higher to 0.880% from 0.872% Tuesday.

Spot gold declined $9 (-0.5%) to $1,870 an ounce.

U.S. WTI crude futures (December) added $0.21 (+0.51%) to $41.64 a barrel.

The U.S. dollar continued to lagged behind other major currencies. The ICE Dollar Index edged lower to 92.40 posting a five-session decline.

The Japanese yen kept receiving bids, as USD/JPY sank a further 0.34% to 103.84 extending its decline to a fifth session. Meanwhile, Japan's exports fell 0.2% on year in October (-4.5% expected) and imports shrank 13.3% (-8.8% expected).

USD/CHF closed flat at 0.9113.

GBP/USD rose 0.21% to 1.3273. U.K. official data showed that consumer prices grew 0.7% on year in October (+0.5% expected).

EUR/USD eased 0.08% to 1.1853 ending a four-day rally.

Commodity-related currencies were firm against the greenback. AUD/USD edged up to 0.7305, and USD/CAD declined 0.19% to 1.3080.

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