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Dollar Holds Profits After Presidential Debate; Bitcoin extends its rise, PMI data in focus

This is what you need to know to trade today Friday October 23:

The US dollar is holding on to Thursday’s recovery. The presidential debate was more civilized than the previous one and opinion polls are expected after the event. Previously, hopes for a stimulus bill were dashed and allowed the dollar to rally. The PMI and COVID-19 statistics stand out on Friday.

Elections: The president of the United States, Donald Trump, and the candidate Joe Biden clashed in their last debate, which was much more civilized than the last. The improved tone may have convinced the few remaining undecided. Nearly 50 million Americans have already cast their votes, about 35% of the 2016 total vote count.

Trump remains significantly behind Biden in national and state polls, while the race for control of the Senate, central to the legislation, is tighter.

Watch:

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Fiscal stimulusWhile Democrats and Republicans have reported progress in the talks, they have also expressed skepticism that a deal could be passed before Election Day. The dwindling chances of a deal have hit the safe-haven dollar a bit.

The statistics of UK retail sales September’s stand out in the European morning with a projected moderate increase of 0.4%. Markit’s preliminary purchasing managers indices for October could decline, amid the rise in British covid cases, but will remain in growth territory.

The GBP/USD It has been falling from the highs it reached after the EU and the UK announced new Brexit talks. Negotiations continue in London.

The Eurozone preliminary PMIs will also be published today. The composite indicator is expected to fall below 50, going from expansion to contraction. Coronavirus infections and hospitalizations are increasing in the old continent, and France is extending its overnight curfew to other regions of the country.

See Eurozone PMI Preview: Surveys will show the impact of the second wave of Covid, shaking the EUR / USD

The initial unemployment claims In the United States, they have resumed their declines, falling below the 800,000 level in the week in which the Non-Farm Payroll surveys are conducted. Markit’s US PMIs are expected to remain stable.

The prices of the Petroleum have risen but remain around the $ 40 level. He oro It has stabilized above $ 1900 after falling from the highs earlier in the week.

The cryptocurrencies They have been extending their uptrend, with Bitcoin topping $ 13,000 and Ethereum breaking through $ 400.

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Credits: Forex Street

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