FX News

NZD/USD edges closer to 18 month high

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
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