This is what you need to know to trade today Tuesday, October 20:
After a day down on Monday, stocks have stabilized and the safe-haven dollar recedes on reports that US officials are moving toward a tax deal. On Brexit, the UK still demands concessions from the EU. US housing numbers and political headlines ahead of the debate are in the spotlight.
Fiscal stimulus: The Speaker of the House of Representatives, Nancy Pelosi, and the Secretary of the Treasury, Steven Mnuchin, would have been reducing their differences after having a long telephone conversation. On the other hand, there are still differences. Also, any bill would have to get the support of Senate Republicans, who are pushing their own “skinny” bill.
Pelosi set a deadline for the end of Tuesday, and headlines coming from President Donald Trump and other officials could shake markets. Gold has been flirting with the $ 1,900 level in anticipation of the news on the fiscal front.
Elections USA: The president is still behind contender Joe Biden in opinion polls, three days before the final meeting between the two men. According to RealClearPolitics, the former vice president leads with 8.9%, and FiveThirtyEight and The Economist models suggest that 90% of the Trump administration will be overthrown.
Brexi: The EU and the UK are in contact, but have not yet officially resumed negotiations. London wants Brussels to announce more concessions before agreeing to step up talks. GBP / USD has pulled out of the 1.30 level.
The first Minister Boris Johnson is ready to impose restrictions on the Greater Manchester area following an increase in COVID-19 cases and a clash with local authorities. Wales announced a strict lockdown, while London remains under relatively looser rules.
The coronavirus It is sweeping the old continent and several countries and regions announce more restrictions. Belgian authorities warned of a “tsunami” of cases. Christine Lagarde, president of the European Central Bank, warned that the recovery could stall. The EUR / USD has primarily responded to news of fiscal stimulus from the US rather than the euro zone coronavirus cases.
Vaccine: Moderna said it would present the interim results of its Phase 3 immunization trial in November and then seek approval from the US Food and Drug Administration. Pfizer will also release its results around the same time.
The economic calendar includes the pbuilding hermitages and US housing starts John Williams, chairman of the New York Federal Reserve Branch, is expected to speak later.
The oil prices they have been stable, with the WTI just above $ 40.
The cryptocurrencies they have been expanding their gradual advance. Bitcoin is consolidating its recent gains above $ 11,700.
See 2020 US Elections: Seven Reasons This Isn’t 2016, It’s Time To Focus On The Senate
Credits: Forex Street
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