MARKET WRAP: Trump's Tweet Created Panic; BOE Left Interest Rate Unchanged

Bank of England left the interest rate unchanged; gold price maintained its momentum; geopolitical tensions heightened after Trump’s Tweet


  • The S&P 500 Index made another record high and soared 0.83% as of 15:42 London time, the Nasdaq Composite Index jumped 0.78% and the Dow Jones Industrial Average rose 0.80%.
  • The Stoxx Europe 600 increase by 0.84% due to the dovish Fed monetary policy, all European indices recorded a positive day
  • The MSCI Emerging Market Index followed global markets and jumped 0.52%.
  • The Bloomberg Dollar Spot Index took a lot of beating today as prospects of rate cut became stronger. The index dropped nearly 0.47%.
  • The Euro recovered its losses and stayed positive for the day. It jumped by 0.77% to $1.1296.
  • The British pound may be forming a floor despite the BOE left the rates unchanged. It added 0.40% to $1.2684.
  • The yield on 10-year Treasuries fell 3 basis points to 1.99%.
  • The UK’s 10-year guilt moved by five basis point to 0.81%.
  • West Texas Intermediate jumped 1.65% to $56.26 a barrel.
  • Gold stayed above the 1350 mark and the next target is 1400. It jumped 2.75% to $1,384 an ounce.