27th July 2020 Overnight Market Wrap

27th July 2020 Overnight Market Wrap

 Key Points

  • U.S. stocks weaker on Friday, led down by Intel
  • Currency markets remain quiet
  • Gold and oil prices continue to rise

Bias: Risk neutral


U.S. stocks were weaker Friday, pressured by a drop in Intel stock, with permeated the entire market. Intel stock fell more than 16% on news that new product development would be delayed. Markets were also hurt by news that China had requested a U.S. Embassy to be closed in Chengdu.

Currency markets remained quiet, with the Bid Dollar drifting off over the day. Very little volume was traded and markets continued to hold tight ranges.

Oil prices rose, while gold prices surged and is approaching historical highs.


Asian session trade will shadow moves in gold, with all eyes on the yellow metal. The data calendar today is light, with little more than German IFO and U.S. Durable Goods slated for release.

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