• UK Prime Minister announced a lockdown for England
• US election campaign nears the finish line
US indices are also trading higher as investors are preparing for an event-packed week centered around the US presidential election. Democratic candidate Joe Biden is ahead in the national polls but anxiety and uncertainty about the results mount as many states will not have complete results on election night due to the increase in mail voting. Meanwhile the number of new Covid-19 cases is rising in so called "swing states" including Florida, Georgia, Iowa, Minnesota, Michigan, North Carolina, Nevada, Ohio, Wisconsin and Texas. Pennsylvania, a state that could decide the presidency, recorded record number of more than 2,700 Covid-19 cases this week, the highest since the star of the pandemic. The US seven-day average of new cases reached new record level of 81 thousand on Sunday. On the data front, ISM Manufacturing PMI for the US increased to 59.3 in October from 55.4 last month, beating market forecasts of 56.8. Today's data pointed to the strongest growth in factory activity since September of 2018.
U.S. crude futures managed to erase early losses and rose over 2.0 %, while the international benchmark Brent contract added 2.2 % after Russia stated that cuts in production could be extended to mid-2021. Elsewhere, gold futures are trading 0.80% higher at $1,893/oz, while silver rose 1.7% and is trading around $24.05/ oz.
USDCAD - buyers did not manage to keep the price above the resistance at 1.3330 and pair pulled back. Currently price is testing local support at 1.3260. Should a break below it occur, downward move towards next strong support at 1.3210 may accelerate. Source: xStation5The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
