However, compared to the same month of the previous year, adds the Bceao, the price of a barrel is down 22.5%, after a decline of 30.6% observed in July 2020. The prices of most raw materials exported by EU countries also fell from last year's level.

The largest declines were observed in cashew nuts (-44.6%), rubber (-15.2%), coffee (-7.0%) and cocoa (-5.5%). On the other hand, world gold and cotton prices rose by 26.9% and 5.9% year-on-year respectively in August 2020.

Regarding stock market indices, the Bceao points out that they recorded contrasting developments during the month of August 2020.

Indeed, on an annual basis, the FOOTSIE 100 (-17.3%), the CAC 40 (-9.7%) and the EuroStoxx 50 (-4.5%) were down, while increases were noted for the Nasdaq Composite (+53.1%) and the Standard&Poor's 500 (+19.6%).

On the foreign exchange market, the European currency appreciated over one year against the US dollar (+8.2%), the Japanese yen (+7.8%) and the yuan (+3.6%). On the other hand, it depreciated against the pound sterling (-1.1%).

Monetary policy in most jurisdictions has remained accommodative in support of economic stimulus.

Indeed, the main central banks of developed countries kept their key rates unchanged during the month of August 2020, after the declines printed in the previous months in the context of the Covid-19 pandemic.

In emerging economies, the Bank of Brazil cut its key interest rate by 25 basis points to 2.0% from 2.250% previously.