Morning wrap (04.11.2020)

9:45 am 4 November 2020

  • US presidential elections have not been decided yet

  • No major US news organization decided to point a winner so far

  • According to NPR, Biden won 223 electoral votes so far, while Trump won 212. According to FOX, both candidates are sitting at 233 votes now

  • Key results ahead: Wisconsin (today), Pennsylvania (tomorrow) and Michigan (Friday)

  • Democrats are likely to keep the majority in the House of Representatives. Republicans are projected to retain majority in the Senate

  • Biden said that he believes he is on track to win elections. Trump said that he is going to win big

  • No matter who takes the White House, lack of any party controlling both chambers of Congress could hint at further struggles with stimulus deal

  • Trump's campaign has already announced that it will go to court to fight elections fraud

  • S&P 500 futures trade slightly above yesterday's cash close. DAX futures trade more or less flat compared to yesterday's close

  • USD leads among majors. Dollar started to regain ground as odds of Trump victory improved throughout the night

  • Precious metals pull back on USD strengthening. Silver, platinum and pallad trade over 1% lower each. Gold trades around 0.5% down

  • Australian retail sales dropped 1.1% MoM in September (exp. -1.5% MoM)

US presidential elections have not been decided yet. Candidates need 270 electoral votes to secure the White House. Source: NPR

The 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.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world.