Forex Today: Renewed U.S. Stimulus Negotiations Bump Stocks

Most markets are relatively flat on mixed sentiment

  • Stock markets have opened the week slightly higher as the Trump administration and the House of Congress renew negotiations on a second U.S. stimulus package. Analysts and central bankers tend to see this step as vital for the global economy.
  • Quarterly Chinese GDP data shows an increase of 4.9%, lower than the 5.5% increase which had been expected.
  • The Japanese Nikkei 225 stock market index is close to its highest price in over 6 months after rising by more than 1% today.
  • Forex markets are generally quiet and range-bound, and this condition is likely to persist today.

  • Opinion polling suggests that President Trump needs an approximately 2.2% swing from current polls in a few battleground states to win the U. S. presidential election on 3rd November, despite Biden’s considerably stronger polling lead nationwide. President Trump has seen polls tighten slightly in his favor over recent days.
  • Coronavirus daily global death tolls have been falling slightly since a recent peak in early August, with deaths in Latin America and the Caribbean falling to 31% of the global daily total, well exceeding those in both India (approx. 19%), the U.S.A. (13%), and Europe (approx. 20%). The number of confirmed new cases continues to rise strongly in the European Union and the U.K. to reach new all-time highs. The European Union is now averaging more new cases than either the U.S.A. or Brazil, deaths are rising there, and new restrictions are beginning to be imposed in several European nations.
  • Total confirmed new coronavirus cases stand at over 39.9 million with an average case fatality rate of 2.78%. Global mortality over recent weeks has been lower than it was during the first peak in April.
  • India has more than 7.4 million confirmed coronavirus cases, more than any other nation except the U.S.A. which has confirmed more than 8.1 million cases. India is the country with the highest daily death toll, reporting more than 500 deaths yesterday.
  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Argentina, Armenia, Austria, Azerbaijan, Bahamas, Belarus, Belgium, Bosnia, Bulgaria, Canada, Cuba, Croatia, Cyprus, Czech Republic, Denmark, Georgia, Germany, Greece, Hungary, Indonesia, Iran, Ireland, Italy, Jordan, Kenya, Kosovo, Kuwait, Latvia, Lebanon, Lithuania, Luxembourg, Malaysia, Malta, Morocco, Nepal, Netherlands, North Macedonia, Poland, Portugal, Romania, Russia, Serbia, Slovenia, Slovenia, Tunisia, Turkey, U.S.A., Ukraine, U.A.E., Uruguay, and the U.K.
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.