News

US futures extend fall after presidential debate

Not a good look for risk going into European morning trade

S&P 500 futures are now down ~0.8% to a fresh low and that is keeping the dollar slightly more bid as we start to look towards European trading.

The ranges in the major currencies space are still relatively modest but the greenback is keeping a slight advance now alongside the yen.

EUR/USD is near the lows at 1.1730 with AUD/USD also keeping lower around 0.7110 after being rejected by its 200-hour moving average earlier.

Meanwhile, USD/JPY is keeping softer in a fall from 105.70 to near its 100-hour moving average at 105.50 currently.

The softer mood is reverberating to Asian equities as well with the Nikkei down by a little over 1% to a fresh low on the day in the final two hours of trading now.

Elsewhere, gold is also dragged down by 0.6% to a session low of $1,887 and 10-year Treasury yields are a touch softer at 0.644%, down 0.5 bps.

For bank trade ideas, check out eFX Plus

The debate earlier produced a lot of noise but in terms of key changes to election sentiment, there wasn’t much in all honesty. Perhaps the biggest takeaway is that there is still going to be plenty of uncertainty, especially with that on a ‘peaceful transition’.

Articles You May Like

USD/JPY drops to a fresh one-month low, strays away from the typical yields correlation
Germany RKI warns that must anticipate uncontrolled spread of the coronavirus
Cable eases to 1.3100 as the dollar keeps steadier so far on the session
Dollar loses some ground as stocks nudge higher
FT report that UK PM Johnson’s 3-year spending master plan to be ditched

Leave a Reply

Your email address will not be published. Required fields are marked *