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Dollar declines amid focus on Q3 earnings

Economies.com
2021-10-20 19:13PM UTC

The US dollar fell against most currencies on Wednesday, amid focus on the third quarter's corporate earnings season.

 

The White House revealed a plan to vaccinate children from 5 to 11 years old against the coronavirus.

 

The US Food and Drug Administration fully approved the Pfizer-BioNTech Covid-19 vaccine, after clinical tests proved its safety for use, and the vaccine was also tested on children and proven safe.

 

Netflix stock fell 1.7% to $627.9 as of 14:16 GMT, despite the company's announcement of more new subscribers in the third quarter, and profits and revenues that topped analysts' expectations.

 

The dollar index fell against a basket of major currencies by less than 0.2% to 93.5 points as of 18:58 GMT, after hitting a high of 93.8 points and a low of 93.5 points.

Gold rises as dollar pressure eases

Economies.com
2021-10-20 19:28PM UTC

Gold prices rose on Wednesday, as the US dollar fell against most currencies, amid focus on the corporate earnings season.

 

The White House revealed a plan to vaccinate children from 5 to 11 years old against the coronavirus.

 

The US Food and Drug Administration fully approved the Pfizer-BioNTech Covid-19 vaccine, after clinical tests proved its safety for use, and the vaccine was also tested on children and proven safe.

 

The dollar index fell against a basket of major currencies by less than 0.2% to 93.5 points as of 19:04 GMT, after hitting a high of 93.8 points and a low of 93.5 points.

 

Gold spot futures rose 0.9% to $1,786.6 an ounce as of 19:05 GMT, after hitting a day high of $1789.6 and a low of $1767.1.

US stocks keep gains on strong corporate earnings

Economies.com
2021-10-20 20:39PM UTC

US stock indices rose on Wednesday, thanks to more strong earnings results for the third quarter.

 

The White House revealed a plan to vaccinate children from 5 to 11 years old against the coronavirus.

 

The US Food and Drug Administration fully approved the Pfizer-BioNTech Covid-19 vaccine, after clinical tests proved its safety for use, and the vaccine was also tested on children and proven safe.

 

Netflix announced more new subscribers in the third quarter, and profits and revenues that topped analysts' expectations.

 

Investors are awaiting the release of Q3 earnings reports by major tech, energy, automobile and other companies.

 

To the oil market, WTI crude November futures rose 1.1% or 98 cents, and closed at $83.87 a barrel.

 

Brent December futures rose 0.9% or 74 cents, and closed at $85.82 a barrel.

 

As for stocks, Dow Jones rose 0.4% or 152 points, and closed at 35,609, with a day high of 35,669, and a low of 35,465.

 

S&P 500 rose 0.4% or 16 points to 4,536, after hitting a high of 4,540 and a low of 4,524 points.

 

Nasdaq fell 0.1% or 7 points to 15,121, with a high of 15,178 and a low of 15,071.

Bitcoin jumps above $66,000 for first time ever

Economies.com
2021-10-20 17:08PM UTC

Bitcoin rose on Wednesday, and hit new all-time records, thanks to strong retail demand.

 

The cryptocurrency gained support yesterday after the announcement of the Bitcoin Strategy ETF (BITO), allowing investors to trade the ETF in the US stock exchange.

 

An exchange traded fund (ETF) is an investment that tracks a basket of assets and can be purchased in a stock exchange, as for the Bitcoin Strategy ETF, Bitcoin prices are tracked and mimicked rather than trading the digital currency itself.

 

Bitcoin Strategy ETF in the first trading session rose by 3.1%, and surpassed $41 a share.

 

Meanwhile, Bitcoin rose by 4% to its all-time high at $66,600 as of 15:45 GMT.