Asian Markets Lower, While COVID-19 Case Surge in Europe Affects EUR
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Equities

Asian stock markets closed mostly lower after the PBoC announced to keep interest rates unchanged at its November meeting.

The ASX 200 (-0.59%) following the prospect of further lockdown in the Eurozone and the rising in COVID-19 cases in the United States disrupted the economic recovery and the travel sector, as well as dampened investor sentiment in Asian markets.

The Nikkei 225 (-0.2%) eased following the recent surge of the Japanese Yen which disrupted the export sector.

Hang Seng (-0.38%) while Shanghai Composite (+0.65%) after PBoC maintained its monetary policy in the November meeting, with the 1-Year Prime Loan Rate at 3.85%and the 5-Year set at 4.65%.

Commodities

Crude oil prices fell below the $ 76 a barrel level on Monday amid continued pressure from the prospect of adjusted reserves by major oil-consuming countries and concerns on demand amid the worsening COVID-19 situation in Europe.

Gold prices traded below $ 1,850 driven by recent comments from Fed officials signaling an increasingly Hawkish stance, giving strength to the U.S. dollar against gold.

Forex

The US dollar strengthened above 96.00 boosted by safe-haven status amid rising COVID-19 cases and re-implementation of restrictions in Europe.

The EUR declined amid a surge in the COVID-19 case and the prospect of further lockdown in Europe.

CAD received a blow from falling crude oil prices amid concerns about demand.