Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

EU Wrap – Europe Squeezes Out Small Gains

By MarketPulse (Craig Erlam)Market OverviewAug 20, 2020 06:07
EU Wrap – Europe Squeezes Out Small Gains
By MarketPulse (Craig Erlam)   |  Aug 20, 2020 06:07
Saved. See Saved Items.
This article has already been saved in your Saved Items

Decent Recovery After Early Losses

European stock markets are ending the day on a positive note, having recovered from a negative start to the session to grind out a decent return as the day progressed.

The FTSE is on course to end the day back above 6,100, while the DAX has its sight set on 13,000 once again after trending lower over the last week. Broadly speaking, we’re still very much consigned to the summer ranges in Europe and in most cases, we’re still trading around the middle of them.

That’s despite the fact that Covid is wreaking less havoc here than in other parts of the world, although rising new cases in a number of countries is resulting in quarantine measures being applied once again, a huge blow to travel and tourism firms.

We don’t quite have the momentum that indices on the other side of the Atlantic are enjoying, with the S&P and Nasdaq back in record territory. The prospect of a relief deal between Republican’s and Democrats won’t be doing that any harm, with the Fed minutes of interest later in the day.

Oil edges lower ahead of OPEC+ meeting

Oil prices are slipping a little, down around 1% on the day. Brent is trading around $45.50 and WTI $42.50, both still near the upper end of their ranges. This comes as the OPEC+ JMMC meets to discuss compliance with the previously agreed cuts – reported to be more than 95% – as producers start paring the back. No major tweaks are expected but traders will remains alert to any warnings from the group.

Gold slips after failing to hold $2,000

Gold has been slipping thoughout the US trading session after breaking below $1,980 before finding some support around $1,960. This comes after it failed to hold above $2,000 the previous day amnd a little profit taking from the last week’s rebound kicked in. With the US dollar remaining under pressure despite a small rebound today and US real yields below -1%, it’s tough to see the bearish case for gold right now.

Original Post

EU Wrap – Europe Squeezes Out Small Gains

Related Articles

Ipek Ozkardeskaya
‘Very Challenging’, Indeed By Ipek Ozkardeskaya - Jun 23, 2022

Market optimism couldn’t survive Jerome Powell’s testimony yesterday, as he said that a recession is possible, and that calling a soft landing is ‘very challenging’ under the...

EU Wrap – Europe Squeezes Out Small Gains

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Our Apps
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
Sign up with Email