FX News

FX News for 2020-11-06

Worldwide coronavirus cases surpass 48.3 million with over 1,228,000 official deaths.

Key Points:
The US Election hangs in the balance this morning, perhaps with an edge to Biden in the race to become President. Currently Biden is sitting on 253 electorate votes while the President sits on 213, 270 electoral votes are needed for victory. There are 6 states which are too close to call. My call on it is,- if Trump wins Nevada he will win the presidency. As votes continue to be counted President Trump has made legal claims on the legitimacy of the ballot counts in at least 4 states.
Equity markets are up overnight the fourth straight day of rises – the Nasdaq gaining over 2.5%

As expected the Federal Reserve left their main rate on hold this morning saying they will use all their range of tools to support the US economy by promoting low unemployment and boosting inflation
The number of Americans who filed for unemployment rose by 751,000 for the last week of October, a decrease of 7,000 in the prior week.
The EU and UK Brexit top negotiators warned of disagreements between both sides after 14 days of intense talks failed to yield a breakthrough. Talks will continue next week.
Manufacturing in China looks to going from strength to strength with figures showing a marked improvement across the sector, the PMI Index is the highest its been at 53.0 since January 2011

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