Archives of “August 2020” month

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New confirmed COVID-19 cases in Italy hit their highest since May on Wednesday

  
  Analysis
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Italy reported 1,367 new coronavirus cases on Wednesday

  • highest daily tally since May
  • Wednesday number of tests was 93,529 (around almost 20,000 more than Tuesday and a record since the beginning of the pandemic)
Despite the renewed surge in infections, authorities in the country persist with saying there are no plans for a new lockdown.

S&P and NASDAQ closed at record levels once again

  
Analysis, US Market
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Dow within 1% of unchanged on the year

the S&P and NASDAQ index are closing at record levels once again with strong gains of over 1%. The NASDAQ outperformed with a 1.73% rise. The Dow industrial average was down earlier today but pushed to the upside and is closing within 1% of the closing level from 2019. The NASDAQ index is now up 30% on the year. The S&P is up 7.67%
The final numbers are showing:
  • S&P index up 35.11 points or 1.02% at 3478.73. The high price extended to 3481.07. The low price fell to 3444.15
  • NASDAQ index rose 198.59 points or 1.73% to 11665.06. It’s high price reached 11672.05. It’s low price fell to 11507.46
  • the Dow industrial average rose 83.48 points or 0.3% to 28331.92. It’s high price reached 28353.80, while its low fell to 28153.91
Some oversize gainers included:
  • Salesforce, +26.06%
  • Netflix, +11.59%
  • Adobe, +9.10%
  • Facebook, +8.27%
  • Box, +7.04%
  • Tesla, +6.32%
  • Slack, +5.85%
  • Rack space, +4.05%
  • Uber, +3.53%
  • Chewy, +2.93%

On the downside:

  • Schlumberger: -3.06%
  • United Airlines, -2.75%
  • Wells Fargo, -2.28%
  • Exxon Mobil, -1.84%
  • Southwest Airlines, -1.78%
  • Boeing, -1.7%
  • Bank of America, -1.69%
  • Citigroup, -1.55%
  • J.P. Morgan, -1.39%
  • Papa John’s, -1.18%
  • Pfizer, -0.89%

AUDUSD moves closer to its 200 week moving average

  
Analysis, Forex

200 week moving average currently at 0.72486

The AUDUSD is trading at new session highs up at 0.72378. That takes the price within about 11 pips of its 200 week moving average at 0.72486. Last week, the price moved above its 200 week moving average for the 1st time since April 2018, but could not sustain momentum. The high price moved to 0.72748 before failing and rotating back lower.
200 week moving average currently at 0.72486_
A move above should solicit more buying interest. A close above the level at the end of the week would be more bullish. Stay below could be indicative of a top/temporary top.
Key test for both the buyers and the sellers.
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