Biden declared victory in the election and addressed the nation on Sunday. Market risk appetite was therefore lifted, boosting gold at the expense of the US dollar.
The Securities & Futures Commission of Hong Kong (SFC) announced its plan for a new regulatory framework that makes it mandatory for all companies that offer crypto trading to apply for a license.
GBP/USD fell sharply on Wednesday after seeing a 1% surge. Despite developments in UK-EU trade talks, further obstacles and outbreaks may penalize GBP/USD.
In terms of economic data, Friday is the most important day. Markit Economics will be releasing PMI numbers for Australia, the Eurozone, the UK and the US.
The results of the presidential election are still pending on Thursday. In the trading market, US stocks climbed over 1%, while the JPY unexpectedly gained strength at the expense of the dollar index.
The broker FXTM in Cyprus has always been popular among investors because of its qualified trading service and wide range of products.
With the US election completely dominating the movements in the dollar, the DXY fluctuated around 93.50 on Thursday.
Domestic equity markets managed to extend gains to a third straight day as investors around the globe awaited the outcome of US presidential election.
Many Forex traders ask what determines the value of a currency, and which are the elements that move with its change in the currency chart.
The US presidential election is held on November 3 (local time) as scheduled. The result may be delayed due to the mail-in voting triggered by the pandemic.
U.S. stocks capped their biggest two-day rally since September and Treasury yields rose on speculation that Congress will deliver a spending bill once the election is decided. The dollar weakened.
Joseph R. Biden pledged in the debate last week to transition away from the oil industry as the sector has caused serious pollution.
The USD/INR pair consolidated its recent gains to the highest level since August 24 and seesawed between tepid gains/minor losses, around mid-74.00s through the early North American session.
Joe Biden has not yet clarified the scandal of his son, Hunter Biden, since it was revealed, which penalizes his approval rating and even push it skewed to the downside.
The latest polls give Biden a lead over Trump, but uncertainties remain on the cards. Besides, events such as spiking Covid-19 cases and deadlocked stimulus talks will heighten risk aversion and spark AUD selloff.
The dollar index, which tracks the greenback against a basket of major currencies, last sat at 94.058, near its four-week high.
Following the steps of regulators throughout Europe and the UK the Australian Securities and Investment Commission (ASIC) has announced a long awaited tightening on the rules governing the sale of CFDs to retail clients.
Trump recently acknowledged that the new round of stimulus bill which he pledged to achieve before the election seems to be impossible. In the wake of the news, gold retreated nearly 2%!
With less than a week to go until the US presidential election, Biden remains ahead of Trump in national approval rating. But investors may switch from gold to the US dollar amid uncertainties of the election.
The crude oil markets are responsive to geopolitical events and the global economic outlook. Prices have been range-bound in recent months after staging a recovery from record negative pricing for US crude in April, but there are suggestions that the market has overestimated the recovery in demand in the aftermath of Covid-19 lockdowns.
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