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Tuesday, November 03, 2020

Nov 3 FX Daily Brief

 

US Market Wrap 

US markets are standing by persistently for the US political race to get in progress, however yesterday the activity was somewhere else. 


While stocks saw some potential gain, the enormous mover was in WTI which saw a 10% spike on news that Russia could be hoping to cut flexibly. 


The moves in oil, got the USD/CAD going too and made for a bustling meeting for the products. 


The Data Agenda 

Information is slim on the ground today, however actually regardless of whether it was occupied all the center would have been somewhere else at any rate. 

Obviously, the headliner is the US political decision and we will probably observe somewhat of a brief delay rise until we have some thought of who is looking like taking control. These things can set aside some effort to play out and frequently boil down to a couple of the key swing states that probably won't settle until some other time in the week. 


Until further notice, the surveys are recommending that Biden is ahead, however as we probably am aware, this isn't likely the situation. The savvy cash actually trusts Trump will be triumphant, yet much will rely upon a huge citizen show up for the Republican's. 

For dealers, a Trump triumph will probably spike the purchasers, while a Biden win and his proposed charge climbs won't satisfy the danger exchange.

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