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    The Weekly Wrap – U.S Election Results Sink the Dollar, while Supporting Riskier Assets

    Abstract:It was a busy week for the global financial markets. It ultimately came down to the U.S Presidential Election, however, with Trump on the brink of losing.

      The Stats

      It was another busy week on the economic calendar, in the week ending 6th November.

      [FX-dianomivideo-AD]

      {4 }的 61个统计中,有38排在预报提前,21个经济指标上来短预测。 2个统计是在与所述周预期。 {4} 综观数字,统计的38也反映从前面的附图有上升的趋势。其余23所统计的,21也反映来自先前的劣化

      有关美元,这是返回到红色。美元兑日元现货指数跌1.92%至92.229。在现有的一周内,钱斑指数已经由1.37%提高到94.039。

      市场反应的U.S总统选举与国会可能的僵局发送的元南。期望是有责任现在将落在FED提供支持,暗示进一步货币政策宽松前进。

      [FX-物品广告]超出美国

      这是对经济数据前另一个忙周。

      在一周的第一半,ISM制造和服务PMI和ADP非农数字是在焦点。

      这是对美元的混合袋,但是。

      虽然制造业活动拾取向上在十月,服务业活动看见生长较慢。

      在所有重要的ISM服务PMI从57.8下降到56.6。

      ADP非农就业人口变动数据也表明劳动力市场复苏的另一个减速。十月份,ADP报告增加365K非农就业数据。这是好短的预测650K和九月的749k。

      在周四的每周申请失业救济人数也令人失望,权利要求书,截至10月30日的一周内,在751k站着。这是向下略微从先前的周758k。

      在一周结束时,非农数据和失业号提供了一些希望。

      在失业率下降从7.9%至6.9%,与638k在十月加入非农数据。

      在货币政策方面,FED残留率在0.25%不变,这是符合预期。

      无论是FED也不是统计的影响,但是,与美国总统选举的主要驱动力。

      在股票市场,纳斯达克激增9.01%,道指和分别的6.87%和7.32%S&P500看到增益。

      出了英国的

      这是在经济数据方面相对平静的一周。最终确定私营部门的PMI,建筑PMI,并且房子的价格的数字是在焦点。

      虽然有一个向上修正制造业PMI,向下修正PMI失望服务。

      十月的施工PMI也低于预期,与PMI下降从56.8到53.1。经济学家预计下降至54.0。

      家价格数字曾在周一个静音的影响,然而

      在货币政策方面,英国央行在行动。而保持利率稳定,京东方通过附加£1300亿到£875bn

      使用英国现在手摇其QE在锁定模式了一个月,阴性率的前景仍。这在很大程度上将取决于Brexit谈判的结果,但是。维持利率的决定稳定提供支持英镑周四。

      一Brexit交易下周和美元暴跌的希望也支持英镑在本周。

      在的一周内,英镑反弹由1.61%至$ 1.3156。在现有的一周内,镑已经由0.71%降至$ 1.2947

      在FTSE100一周结束了5.97%由前一周反转4.83%的损失。

      出欧元区

      这是一个特别忙周上的经济数据前。

      在本周上半叶,十月份的私营部门的采购经理人指数均焦点。

      对于法国,德国和欧元区都最终确定生产数量排在预赛的F提前gures。意大利和西班牙也报道了制造业活性的拾取。

      服务扇区活动继续令人失望,但是。以更快的步伐,意大利和西班牙的锯服务业活动合同烟雨COVID-19大流行。的第二波

      在欧元区,法国和德国的服务业也继续萎缩。

      由于在制造部门活动拾取,然而,欧元区私营部门避免了收缩。复合PMI进来了在50.0代表10月

      在一周中的第二半,德国工厂订单和工业生产的数字是在焦点。

      { 39} 数字两套低于市场预期的下跌,但两者都在九月上升。 {39} 虽然有大量的统计资料来考虑,则上行,欧元掉了对美国总统选举的背面。

      一个拜登胜利被认为是阳性,欧元和欧洲专业两者。

      本周,欧元上涨1.95%至$ 1.1874。在之前的一周,欧元已经由1.80%下降到$ 1.1647。

      远离经济日历,在新COVID-19例,新的锁定措施的持续上涨仍然是负数。

      有关欧洲主要指标,这是一个看涨周。的DAX30和CAC40分别上涨7.99%和7.98,与EuroStoxx600获得7.02%。

      有关加元

      有又是相对安静的一周的经济数据面前。

      关键统计数据包括9月份贸易数据和十月的就业和艾维PMI数据。

      这对加元鱼龙混杂。逆差的扩大和比预期的就业数据较弱是加元负

      在艾维PMI的拾取器是唯一的正,尽管就业数字提请更大的兴趣。

      市场反应的美国总统选举和原油价格的跳跃支持的加元,然而

      在周恩迪摹11月6日,加元上涨2.03%,至C $ 1.3050,结束了一周。在现有的一周内,加元已经通过1.49%下降到C $ 1.3321

      其他地方

      这是看涨周为澳元元和猕猴桃美元。

      在结束11月6日的一周内,澳元反弹由3.27%至$ 0.7258,与猕猴桃美元上涨由2.40%在结束周$ 0.6774

      有关的澳元

      这是一个相对忙周上的经济日历。

      关键统计数据包括9月零售销售和贸易数据以及10月份制造业数字。

      在统计是偏向正面,虽然零售销售的持续下降是一个在一周的关注。

      在货币政策方面,RBA递送的速率剪切和进一步政策措施支持通货膨胀和就业。

      在RBA还发布了其对货币政策声明修改向上生长,通货膨胀和就业预测。

      有关的澳元,但是,上侧脱落的背面的美国总统选举。的

      有关猕猴桃元

      这也是一个相对安静的周上的经济日历。

      主要统计信息包括第三季度就业和通货膨胀预期数字。

      在统计是偏向负。虽然比预测更好,失业率从4%提高到5.3%,如在就业0.8%下降的结果。

      通货膨胀预期呈阳性,但是,与上升的趋势在通货膨胀预测继续在第四季度。

      通过下周新西兰央行在动作和美元上滑动,但是,它仍有待观察充气号是否良好足够了...可能有一些限价领先。

      有关日圆

      这是对经济日历一个相对安静的一周。

      {} 70 关键统计数据中包括定稿月私营部门采购经理人指数和家庭支出数字为九月。 {70}{2}

      A total of 61 stats were monitored, following 62 stats from the week prior.

      {2}{3}

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      {3}{4}

      Of the 61 stats, 38 came in ahead of forecasts, with 21 economic indicators coming up short of forecasts. 2 stats were in line with forecasts in the week.

      {4}{5}

      Looking at the numbers, 38 of the stats also reflected an upward trend from previous figures. Of the remaining 23 stats, 21 also reflected a deterioration from previous.

      {5}{6}

      For the Greenback, it was back into the red. The Dollar Spot Index slid by 1.92% to 92.229. In the week prior, the Dollar Spot Index had risen by 1.37% to 94.039.

      {6}{7}

      Market reaction to the U.S Presidential Election and a likely gridlock on Capitol Hill sent the Dollar south. Expectations are that the onus will now fall on the FED to deliver support, suggesting further monetary policy easing ahead.

      {7}{8}

      [fx-article-ad]Out of the U.S

      {8}{9}

      It was another busy week on the economic data front.

      {9}{10}

      In the 1st half of the week, ISM Manufacturing and Service PMI and ADP Nonfarm numbers were in focus.

      {10}{11}

      It was a mixed bag for the Dollar, however.

      {11}{12}

      While manufacturing sector activity picked up in October, service sector activity saw slower growth.

      {12}{13}

      The all-important ISM Services PMI slipped from 57.8 to 56.6.

      {13}{14}

      ADP nonfarm employment change figures also suggested another speed bump in the labor market recovery. In October, the ADP reported 365k nonfarm payrolls added. This was well short of a forecasted 650k and Septembers 749k.

      {14}{15}

      On Thursday, the weekly jobless claims also disappointed, with claims standing at 751k in the week ending 30th October. This was down marginally from a previous week 758k.

      {15}{16}

      At the end of the week, nonfarm payrolls and unemployment numbers provided some hope.

      {16}{17}

      The unemployment rate fell from 7.9% to 6.9%, with 638k nonfarm payrolls added in October.

      {17}{18}

      On the monetary policy front, the FED left rates unchanged at 0.25%, which was in line with expectations.

      {18}{19}

      Neither the FED nor the stats influenced, however, with the U.S Presidential Election the key driver.

      {19}{20}

      In the equity markets, the NASDAQ surged by 9.01%, with the Dow and S&P500 seeing gains of 6.87% and 7.32% respectively.

      {20}{21}

      Out of the UK

      {21}{22}

      It was a relatively quiet week on the economic data front. Finalized private sector PMIs, construction PMI, and house price figures were in focus.

      {22}{777}

      While there was an upward revision to the manufacturing PMI, a downward revision to the services PMI disappointed.

      {777}{24}

      Octobers Construction PMI also fell short of expectations, with the PMI falling from 56.8 to 53.1. Economists had forecast a fall to 54.0.

      {24}{25}

      House price figures had a muted impact in the week, however.

      {25}{26}

      On the monetary policy front, the BoE was in action. While holding interest rates steady, the BoE cranked up its QE by an additional £130bn to £875bn.

      {26}{27}

      With England now in lockdown mode for a month, the prospects of negative rates remain. Much will depend on the outcome of Brexit negotiations, however. The decision to hold rates steady provided the Pound with support on Thursday.

      {27}{28}

      Hopes of a Brexit deal by next week and a slump in the Greenback also supported the Pound in the week.

      {28}{29}

      In the week, the Pound rallied by 1.61% to $1.3156. In the week prior, the Pound had fallen by 0.71% to $1.2947.

      {29}{30}

      The FTSE100 ended the week up by 5.97% reversing a 4.83% loss from the previous week.

      {30}{31}

      Out of the Eurozone

      {31}{32}

      It was a particularly busy week on the economic data front.

      {32}{33}

      In the 1st half of the week, Octobers private sector PMIs were in focus.

      {33}{34}

      Finalized manufacturing numbers for France, Germany, and the Eurozone all came in ahead of prelim figures. Italy and Spain also reported a pickup in manufacturing sector activity.

      {34}{35}

      Service sector activity continued to disappoint, however. Both Italy and Spain saw service sector activity contract at a quicker pace amidst the 2nd wave of the COVID-19 pandemic.

      {35}{36}

      The Eurozone, France and Germanys services sector also continued to contract.

      {36}{37}

      Thanks to a pickup in manufacturing sector activity, however, the Eurozones private sector avoided a contraction. The Composite PMI came in at 50.0 for October.

      {37}{38}

      In the 2nd half of the week, German factory orders and industrial production figures were in focus.

      {38}{39}

      Both sets of numbers fell short of forecasts, though both were on the rise in September.

      {39}{40}

      While there were plenty of stats to consider, the upside for the EUR came off the back of the U.S Presidential Election.

      {40}{41}

      A Joe Biden victory is considered positive for both the EUR and the European majors.

      {41}{42}

      For the week, the EUR rallied by 1.95% to $1.1874. In the week prior, the EUR had fallen by 1.80% to $1.1647.

      {42}{43}

      Away from the economic calendar, the continued rise in new COVID-19 cases and new lockdown measures remained negative.

      {43}{44}

      For the European major indexes, it was a bullish week. The DAX30 and CAC40 rallied by 7.99% and by 7.98 respectively, with the EuroStoxx600 gaining 7.02%.

      {44}{45}

      For the Loonie

      {45}{46}

      It was another relatively quiet week on the economic data front.

      {46}{47}

      Key stats included September trade figures and October employment and Ivey PMI numbers.

      {47}{48}

      It was a mixed bag for the Loonie. A widening of the trade deficit and weaker than expected employment figures were Loonie negative.

      {48}{49}

      A pickup in the Ivey PMI was the only positive, though the employment figures drew greater interest.

      {49}{50}

      Market reaction to the U.S Presidential Election and a jump in crude oil prices supported the Loonie, however.

      {50}{51}

      In the week ending 6th November, the Loonie rallied by 2.03% to end the week at C$1.3050. In the week prior, the Loonie had fallen by 1.49% to C$1.3321.

      {51}{52}

      Elsewhere

      {52}{53}

      It was a bullish week for the Aussie Dollar and the Kiwi Dollar.

      {53}{54}

      In the week ending 6th November, the Aussie Dollar rallied by 3.27% to $0.7258, with the Kiwi Dollar rising by 2.40% to end the week at $0.6774.

      {54}{55}

      For the Aussie Dollar

      {55}{56}

      It was a relatively busy week on the economic calendar.

      {56}{57}

      Key stats included September retail sales and trade data and October manufacturing numbers.

      {57}{58}

      The stats were skewed to the positive, though a continued decline in retail sales was a concern in the week.

      {58}{59}

      On the monetary policy front, the RBA delivered a rate cut and further policy measures to support inflation and employment.

      {59}{60}

      The RBA also released its Statement on Monetary Policy upwardly revising growth, inflation, and employment forecasts.

      {60}{61}

      For the Aussie Dollar, however, the upside came off the back of the U.S Presidential Election.

      {61}{62}

      For the Kiwi Dollar

      {62}{63}

      It was also a relatively quiet week on the economic calendar.

      {63}{64}

      Key stats included 3rd quarter employment and inflation expectation figures.

      {64}{65}

      The stats were skewed to the negative. While better than forecasts, the unemployment rate rose from 4% to 5.3% as a result of a 0.8% fall in employment.

      {65}{66}

      Inflation expectations were positive, however, with an upward trend in inflation forecasts continuing in the 4th quarter.

      {66}{67}

      With the RBNZ in action next week and the U.S Dollar on the slide, however, it remains to be seen whether the inflation numbers are good enough… There could be some jawboning ahead.

      {67}{68}

      For the Japanese Yen

      {68}{69}

      It was a relatively quiet week on the economic calendar.

      {69}{70}

      Key stats included finalized private sector PMIs for October and household spending figures for September.

      {70}{71}

      Upward revisions to private sector PMIs were positive, with household spending getting a boost in September.

      {71}

      Both the manufacturing and services sectors continued to contract in October, however.

      The Japanese Yen rallied by 1.25% to ¥103.35 against the U.S Dollar. In the week prior, the Yen had risen by 0.05% to ¥104.66.

      Out of China

      It was a week on the economic data front.

      The markets preferred Caixin private sector PMIs for October were in focus.

      A pickup in private sector activity supported riskier assets and the positive outlook towards the Chinese economy.

      {78}

      The manufacturing PMI rose from 53.0 to 53.6, with the services PMI rising from 54.8 to 56.8.

      {78}

      For Yuan, a Trump loss in the U.S Presidential Election would be a boost and ultimately supported the upside in the Yuan.

      In the week ending 6th November, the Chinese Yuan rose by 1.18% to CNY6.6125. In the week prior, the Yuan had fallen by 0.07%.

      {81}

      The CSI300 rose by 4.05%, with the Hang Seng ending the week up by 6.66%.

      {81}

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