TRACKRECORD DAILY
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TRACKRECORD DAILY

Nasdaq broke Psychological Level

If volatility should remain contained, the market is likely to grind higher. Precious metals having tried the downside for the past few sessions are now ready to push higher.

TRADING PLAN

  1. Gold & Silver -Price action did get better as was indicated by the way it traded in the past few sessions. Keep long.
  2. AUD -

WHAT HAPPENED YESTERDAY

Market Movements as of New York Close 9 Sep 2020
  • S&P 500 rebounded 2.0% on Wednesday amid gains across all 11 of its sectors, although the market did lose some steam into the close. The Nasdaq Composite rose 2.7% amid strength in technology stocks, while the Dow Jones Industrial Average (+1.6%) and Russell 2000 (+1.5%) underperformed.
  • There was no fundamental news catalyzing the buying activity, and there were several negative-sounding headlines that the market brushed aside. To name a few, AstraZeneca (AZN 53.64, -1.07, -2.0%) paused its COVID-19 vaccine trial in the UK due to a serious adverse reaction in a patient, there was some reported pessimism in Washington regarding another coronavirus relief package before the election, and several airlines remained cautious about the travel demand outlook.
  • The Bank of Canada on Wednesday held its key overnight interest rate steady at 0.25%, as expected, and said the bounce-back in economic activity in the third quarter looks to be faster than previously anticipated. Despite that slight optimism, the central bank noted that as the Canadian economy moves from the recovery phase to a bumpier recuperation phase it will continue to require extraordinary monetary policy support. The optimism fueled a gain of around 0.5% for the CAD.

HEADLINES:

BREXIT IN CRISIS: EU ‘VERY CONCERNED’ BY UK PLAN TO BREAK DIVORCE TREATY

DAY AHEAD

  • ECB

SENTIMENT

FX

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