Worldwide coronavirus cases surpass 43.7 million with over 1,164,000 official deaths.
Key Points:
- Equity markets have been hit hard as uncertainty and worry runs high in the US Election. If President Trump loses the election this will create a pullback in equity trading as investors exit long positions.
- US stimulus talks between the Dems and Republicans are dead but not buried negotiations most likely to resume post the US election
- US President Trump plans to dispute the election results if he loses, currently he is was behind in the polls
- The US grips for an explosion of coronavirus fresh infections
- NZ CPI prints at 0.7% slightly down from the forecasted 0.9%
- The Oxford Covid-19 trials has produced a strong immune response in the health of the elderly, the group which is at highest risk from the disease
- Coronavirus in France is becoming dire with full lockdowns considered for 3 major cities – Paris, Lyon and Marseille
- The RBA said they would cut the cash rate to 0.10% at the November 3rd meeting
Major Announcements last week:
- NZ Labour Day Holiday Monday
- US stimulus talks continue
- NZ third quarter CPI prints at 0.7% from 0.9% predicted
- US Home Sales comes in at 959k worse than the forecasted 1.025M for September
- Coronavirus numbers around the world reach nearly 500,000 new cases per day