Forex Today: Stocks Up, U.S. Dollar Gains in Asian Session

Adam Lemon

Risk-on sentiment continues to broadly hold positive

  • Stock markets rose firmly yesterday but retreated during the Asian session. The Nikkei 225 Index is barely changed on the day today.
  • Over the short term, the U.S. Dollar is the strongest currency while the Australian Dollar is the weakest. However, over the long-term, the U.S. Dollar is weak while the Euro and Japanese Yen are strong.
  • There will be a release of U.S. CPI (inflation) data today.
  • Opinion polling suggests that President Trump only needs an approximately 3% swing from current polls in the battleground states to win the U. S. presidential election on 3rd November, despite Biden’s much stronger seeming lead nationwide. President Trump resumed campaigning with a rally in Florida yesterday.
  • A man in the United States has been found to have contracted coronavirus twice, with the second infection being considerably more serious than the first, requiring hospital treatment.

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  • Last Saturday saw 359,270 new confirmed coronavirus cases reported globally, the highest daily total yet.
  • 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 36% of the global daily total, well exceeding those in both India (approx. 19%), the U.S.A. (13%), and Europe (approx. 14%). The number of confirmed new cases has been rising 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.
  • Total confirmed new coronavirus cases stand at over 37.7 million with an average case fatality rate of 2.86%. Global mortality over recent weeks has been lower than it was during the first peak in April.
  • India has more than 7.1 million confirmed coronavirus cases, more than any other nation except the U.S.A. India is now seeing more new deaths daily than any other country with more than 700 deaths reported yesterday. The past few weeks are seeing confirmed new cases hit new highs globally.
  • The amount of new cases has been rising strongly in Europe and several countries have reimposed or are close to reimposing restrictions in an attempt to halt increases in rates of infection.
  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Argentina, Armenia, Austria, Azerbaijan, Belarus, Belgium, Belize, Bosnia, Bulgaria, Burma, Canada, Colombia, Croatia, Cyprus, Czech Republic, Finland, Georgia, Germany, Greece, Hungary, Iceland, Indonesia, Iran, Ireland, Italy, Jamaica, Jordan, Kenya, Latvia, Lebanon, Lithuania, Malaysia, Malta, Moldova, Morocco, Nepal, Netherlands, North Macedonia, Panama, Paraguay, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Tunisia, U.S.A., Ukraine, U.A.E., the U.K., and Uruguay.
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.
Learn more from Adam in his free lessons at FX Academy

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