Global Markets Rebound Strongly Led by the UK

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Global markets scored a strong rebound last night, registering gains as if Brexit didn’t happen.

US markets were all positive with the Dow Jones Index up 284.96 or 1.64 per cent. The S&P 500 and Nasdaq were also up more than 1.5 per cent each.

The biggest surprise was the UK 100, which recorded a massive 3.58 per cent jump.

“The UK 100 was the big story last night as it shook off all the losses from Brexit,” said Joseph Jeffriess Currency Analyst at GO Markets.

View the full market commentary on video here.

He added that the volatility surrounding the strong rebound on the UK index was incredible as it retraced and re-tested pre-Brexit highs.

According to Jeffriess, the UK index was able to shook off and regain most of its pre-Brexit losses in just two trading sessions.

“It is an incredible comeback after all the negativity we saw earlier. However, there is no assurance that it will continue to move further up,” he said.

Oil was another big mover last night as inventory numbers came out better than expected.

“The latest oil inventories were very positive that’s why we saw oil with a strong rally last night,” Jeffries said.

Gold also performed well and was up at the $1318 level after it held on to its gains last night.

In the Australian market, the Aussie 200 Index recovered slightly last night after a soft start. The local index may get some push higher on the back of strong global equity market movements.

READ  US & UK Markets Rebound Strongly with the Aussie Index up 110 points

The Aussie dollar is also enjoying some support on the back of iron ore and oil price rises.

 

GO Markets was founded in 2006 in Melbourne, Australia and is one of Australia’s premier MT4 Forex Brokers, offering Forex and CFD trading as well as Binary Options trading, via MT4, to individuals and institutional clients.

 



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