• First US presidential debate
• Final round of Brexit negotiations
• Oil price plunged on demand worries
• Oil price plunged on demand worries
European finished today’s session lower. The final official round of negotiations between UK and EU started this week. Both sides have been struggling to agree on key issues but are still aiming to reach an agreement to avoid a chaotic Brexit. On the economic data front, consumer prices in Germany and Spain remained in deflationary territory in September amid weak domestic demand. DAX 30 dropped 0.4%, CAC declined 0.2% and FTSE finished 0.5% lower.
US indices are trading lower today as markets await the first debate between Donald Trump and Joe Biden on Tuesday night. Some experts believe the first debate could have more substantial impact on the markets than later debates, and a clear victory of one candidate could possibly create a significant market moves. Meanwhile, the House Speaker Nancy Pelosi said the Democrats unveiled a new, $2.2 trillion coronavirus bill and added she will speak with Treasury Secretary Mnuchin again on Tuesday. However the date when there would be a vote on the latest proposal is still unknown. On the coronavirus front, US reported yesterday 33,037 new cases and 316 fatalities, according to Johns Hopkins University. New York's test positive rate just rose above 3% for the first time in months. Meanwhile Florida lifted capacity restrictions on restaurants over the weekend. Dr Anthony Fauci believes that the country is "not in a good place". On the corporate front, JPMorgan Chase (JPM.US) will have to pay a record $920 million penalty over its role in the alleged manipulation of global markets for metals and Treasurys, so-called spoofing, which is when sophisticated traders flood markets with orders that they have no intention of actually executing.
Gold hit a one-week high of $1,895 during the session while silver prices reached one-week high of $24.26 an ounce amid a subdued US dollar. Meanwhile WTI crude futures slumped more than 5% and Brent crude futures lost more than 4.5% as a surge in COVID-19 infections and fatalities worldwide raised concerns about the pace of recovery in fuel demand. Oil traders now await API data to be released later in the day
US indices are trading lower today as markets await the first debate between Donald Trump and Joe Biden on Tuesday night. Some experts believe the first debate could have more substantial impact on the markets than later debates, and a clear victory of one candidate could possibly create a significant market moves. Meanwhile, the House Speaker Nancy Pelosi said the Democrats unveiled a new, $2.2 trillion coronavirus bill and added she will speak with Treasury Secretary Mnuchin again on Tuesday. However the date when there would be a vote on the latest proposal is still unknown. On the coronavirus front, US reported yesterday 33,037 new cases and 316 fatalities, according to Johns Hopkins University. New York's test positive rate just rose above 3% for the first time in months. Meanwhile Florida lifted capacity restrictions on restaurants over the weekend. Dr Anthony Fauci believes that the country is "not in a good place". On the corporate front, JPMorgan Chase (JPM.US) will have to pay a record $920 million penalty over its role in the alleged manipulation of global markets for metals and Treasurys, so-called spoofing, which is when sophisticated traders flood markets with orders that they have no intention of actually executing.
Gold hit a one-week high of $1,895 during the session while silver prices reached one-week high of $24.26 an ounce amid a subdued US dollar. Meanwhile WTI crude futures slumped more than 5% and Brent crude futures lost more than 4.5% as a surge in COVID-19 infections and fatalities worldwide raised concerns about the pace of recovery in fuel demand. Oil traders now await API data to be released later in the day
USDCHF – yesterday price failed to break above the key resistance at 0.9300 amid lack of strong catalyst. The pair pulled back and is currently testing major support level at 0.9200. Should sellers manage to push the price below it, then further downward impulse towards 0.9000 could be launched. Source: xStation5
