FOREX MARKET UPDATE TODAY

After yesterday’s bearish run on the USD Index, it seems to be taking a breather now.
The Crude finally closes the Gap from last week’s close at 40.65 area. and might have more room to the downside if the 41 level holds.
The Aussie & neighboring Kiwi seem to be the biggest movers with continuous tension with China over the dispute on Australia’s coal. Australia joins Quad drill with US, Japan & India in large scale military exercises which of-course will further damage relationship ties with China.
Note that this drill comes at a time of diplomatic tensions between China and Australia, economic tensions between China and the US and military tensions between China and India.
In other news, the surge in the coronavirus cases seems to be a cause for concern as parts of Europe, Asia & US might be taking tougher measures to curb the spread, especially as the cold temperatures is upon us.
October 20, 2020

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