This is what you need to know to operate the Monday, November 2:
The safe-haven dollar is on the rise, gold is flat, while stocks and oil are on the defensive. The COVID-19 numbers continue to rise, triggering a lockdown in the UK. One day before the US elections, tensions remain high and weigh on the markets. The US ISM PMI will be released today.
American elections: A series of final polls from various pollsters continued to show Democrat Joe Biden ahead of President Donald Trump. Campaigns focus on Pennsylvania, the most likely tipping point state, and neighboring Midwestern states.
More than 94 million Americans have already cast their votes in early voting and by mail, about 68% of the total vote count for 2016. In Texas, that number has reached 108%, while turnout is close to 100 % in Florida, North Carolina, and Georgia.
Risk aversionUK Prime Minister Boris Johnson took a 180 degree turn and announced a month-long lockdown nationwide starting Thursday. GBP / USD is trading around 1.29, holding higher despite the news and amid hopes that Brexit negotiators are moving toward a deal.
Hospitalizations are on the rise in Britain and Europe, where fatigue over the measures has sparked protests, and in the United States, where the daily case burden has approached 100,000.
Petroleum: WTI Crude Oil fell below $ 35 amid a climate of risk aversion and Libya’s announcement that it is increasing production.
The gold It has stabilized at around $ 1,880 after struggling last week.
The purchasing managers index of manufactura ISM de EE.UU. it will remain above 55, reflecting moderate growth. The post serves as a clue to Friday’s Non-Farm Payroll report.
European manufacturing PMIs are also forecast to show continued expansion despite recent locks. China’s PMIs surpassed the 50 level and also reflected the expansion.
The cryptocurrencies they remain on high ground, with Bitcion just below the $ 14,000 level and Ethereum above $ 400.
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Credits: Forex Street
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