Stock markets celebrate next election verdict, dollar moves mixed, waiting for Fed and final results

This is what you need to know to trade today Thursday, November 5:

Joe Biden approaches the presidency as the recount continues in several critical states and markets seem pleased that results are only delayed. Hopes for stimulus are weaker as Republicans are on track to keep the House. Apart from the elections, the Fed, the BoE, various data and statistics of the coronavirus will focus the attention of investors.

Elections in USA: The news reports Michigan and Wisconsin for Democratic candidate Joe Biden, bringing his electoral college score closer to the 270 needed to win. The Arizona updates, which some have said for Biden, will be received shortly. The count continues in Georgia and Pennsylvania, where President Donald Trump’s leadership is waning.

Biden has a slight lead in Nevada, which must report results later in the day. The former vice president expressed his confidence in his chances of victory while the current president continues to falsely denounce irregularities and is willing to go to court to carry out recounts.

S&P 500 futures They continue to rise after Wednesday’s rally, while the dollar is moving lower, albeit to a limited extent. The EUR/USD has recovered the level of 1.17 while the USD/JPY it is trading below 104.50.

Gold continues to trade around the $ 1,900 level. Crude oil WTI he holds onto his recovery of around $ 38. The Bitcoin stands out by extending its earnings above $ 14,000, reaching the highest level since January 2018.

Republicans are on track to retain control of the Senate, and Democrats who lose a critical battle in Maine win only a few seats. The bond market reflects less chance of additional stimulus, limiting the dollar’s decline. On the other hand, Senate Majority Leader Mitch McConnel has said he’s open to state aid, a key Democratic demand he was reluctant to do.

The Bank of england has expanded its bond purchase program by £ 150bn, more than expected, causing GBP / USD to rise. Markets celebrate the additional funds made available to the government to boost the economy.

United Kingdom: The second nationwide lockdown will take effect on Thursday after parliament approved it on Wednesday. The Brexit talks have run into trouble again, after several days of progress. The news that Brussels and London have “divergences on several issues” has weighed on the British pound.

It is predicted that Federal Reserve it will leave its monetary policies unchanged in a decision to be released later in the day. The Fed previously pledged to keep interest rates low until at least 2022. Jerome Powell, Chairman of the Federal Reserve, will address the press and his tone on the economy will be closely watched.

United States data: ADP’s private sector jobs report fell short of estimates with 365,000 jobs created in October. ISM’s services PMI purchasing managers index beat expectations with 57.4 points, but the employment component fell. These two figures serve as clues for Friday’s NFP nonfarm payrolls. Weekly jobless claims are on Thursday’s agenda, with another forecast for a small decline.

The new cases of COVID-19 have exceeded the level of 100,000 per day in the US, while mortality remains high but stable. Germany hit a daily record of more than 20,000. The virus has been on the back burner for investors, but it could come to the fore.