Morning wrap (04.11.2020)

• 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