Financial Market News 19.08.2020 Stocks & FX

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DAX futures contract in Germany traded 0.1% higher, FTSE 100 futures contract in the U.K. rose 0.2%, while CAC 40 futures in France dropped 0.2%.
AstraZeneca (NYSE:AZN) is likely to be supported by news of it signing a deal with Australia to supply it with its potential Covid-19 vaccine.
Roche Holding (SIX:RO) has agreed to help manufacture and distribute an experimental drug for Covid-19 being developed by Regeneron (NASDAQ:REGN) Pharmaceuticals.
U.S. crude futures traded 0.8% lower at $42.55 a barrel, while the international benchmark Brent contract fell 1% to $45.03. Gold futures fell 0.8% to $1,997.00/oz.
UK CPI rose 1.0% YoY in July as compared to +0.6% expected. Meanwhile, the core inflation gauge (excluding volatile food and energy items) also surpassed expectations and came in at +1.8% YoY during the reported month, up from the 1.4% increase in June. GBP/USD could now advance to 1.3340 in the near-term – UOB. EUR/USD faced rejection above 1.1950 during Tuesday's Asian trading hours, as the dollar sell-off suddenly stalled despite the risk-on rally in the Asian stocks. The dollar struggled to recoup heavy overnight losses on Wednesday after it slipped to 27-month low the previous session as uncertainties about an economic recovery and the U.S. fiscal stimulus package weighed. The AUD/USD pair inched down 0.05% to 0.7237 while the NZD/USD pair inched up 0.08% to 0.6604. The USD/CNY pair inched up 0.01% to 6.9219, with U.S.-China tensions continuing to escalate.
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