Forex Today: Stocks Fall on Stimulus Deadlock – 14 October 2020

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on October 14, 2020

Risk sentiment is mixed as analysts see Republicans retaining Senate

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  • Stock markets fell slightly yesterday as the prospect of a strong stimulus package in the U.S. continued to recede.
  • Forex markets are mixed, but with European currencies notably weak, especially the British Pound.
  • There will be a release of U.S. CPI PPI data today.
  • Opinion polling suggests that President Trump only needs an approximately 3.3% swing from current polls in a few battleground states to win the U. S. presidential election on 3rd November, despite Biden’s far stronger polling lead nationwide. President Trump resumed campaigning with a rally in Florida yesterday.
  • Coronavirus daily global death tolls have been falling since a recent peak in early August, with deaths in Latin America and the Caribbean falling to 34% of the global daily total, well exceeding those in both India (approx. 19%), the U.S.A. (13%), and Europe (approx. 16%). The number of confirmed new cases continues to rise quite strongly in the European Union and the U.K. The European Union is now averaging more new cases than the U.S.A. or Brazil, deaths are rising, and new restrictions are beginning to be imposed in several European nations.
  • Total confirmed new coronavirus cases stand at over 38.1 million with an average case fatality rate of 2.85%. Global mortality over recent weeks has been lower than it was during the first peak in April.
  • India has more than 7.2 million confirmed coronavirus cases, more than any other nation except the U.S.A. which has again become the country with the highest daily death toll, reporting more than 800 deaths. The past few weeks are seeing confirmed new cases hit new highs globally.
  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Armenia, Austria, Azerbaijan, Belarus, Bulgaria, Burma, Canada, Croatia, Cyprus, Czech Republic, Finland, France, Georgia, Germany, Hungary, Iran, Ireland, Italy, Jamaica, Jordan, Kenya, Latvia, Lebanon, Lithuania, Malaysia, Morocco, Nepal, Netherlands, Oman, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Switzerland, U.S.A., Ukraine, U.A.E., and the U.K.

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