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Forex Today: “Differences Narrowing”

Stocks and risky assets lower while U.S. Dollar advances

  • Stock markets globally are broadly lower, with the S&P 500 Index down by more than 1.5% yesterday.
  • A spokesperson for the Speaker of the U.S. House of Representatives said that “differences are narrowing” in negotiations with the Trump administration on a second U.S. stimulus package. Analysts and central bankers tend to see this step as vital for the global economy.

  • Forex markets are seeing a strong Euro, while the Australian Dollar is currently acting like the weakest major currency after the Reserve Bank of Australia hints at further monetary easing
  • Opinion polling suggests that President Trump needs only an approximately 2% swing from current polls in a few battleground states to win the U. S. presidential election on 3rd November, despite Biden’s considerably stronger polling lead nationwide. President Trump has seen polls tighten slightly in his favor over recent days.
  • Coronavirus daily global death tolls have been falling slightly since a recent peak in early August, with deaths in Latin America and the Caribbean falling to 31% of the global daily total, well exceeding those in both India (approx. 19%), the U.S.A. (13%), and Europe (approx. 20%).
  • The European Union is now seeing more new coronavirus cases than any other area, deaths are rising, and new restrictions are being imposed in several European nations, notably new lockdowns in Ireland and Wales. New cases are also rising strongly in the U.K
  • Total confirmed new coronavirus cases stand at over 40.3 million with an average case fatality rate of 2.77%. Global mortality over recent weeks has been lower than it was during the first peak in April. However, the rate of new confirmed cases is increasing exponentially worldwide
  • Argentina’s total confirmed coronavirus cases have exceeded 1 million
  • India has more than 7.5 million confirmed coronavirus cases, more than any other nation except the U.S.A. which has confirmed more than 8.2 million cases. India is the country with the highest daily death toll, reporting more than 600 deaths yesterday
  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Argentina, Armenia, Austria, Azerbaijan, Bahamas, Belarus, Belgium, Bosnia, Bulgaria, Canada, Cuba, Croatia, Cyprus, Czech Republic, Denmark, France, Georgia, Germany, Greece, Honduras, Hungary, Ireland, Italy, Kenya, Kosovo, Kuwait, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Morocco, Nepal, Netherlands, North Macedonia, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, Tunisia, Turkey, U.S.A., Ukraine, U.A.E., Uruguay, and the U.K. 
Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

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