What’s happening in the FX World?
12 days to the US elections and due to the uncertainty of the USD, Investors should be off-loading/dumping the dollar giving room for more shorts.
Biden is in the lead but Trump can definitely come up with another upset just like he did to Hilary.
US stimulus bill looking more positive before the elections as Pelosi says something positive should be agreed on before end of the week. US Stocks riding on the Stimulus update by rallying hard.
2nd virus wave in the Eurozone but the Euros was up against the dollar yesterday and same with GBP which was due to the positive BREXIT news that the UK will continue with the negotiations but this doesn’t mean a Deal has been met yet.
Big down day on the Crude yesterday as it dropped from 41.50 to 39.75 after ranging first 2 days of the week with apparent fakeouts to the upside & downside.
Overall, the Crude is still playing inside a major range on the daily/weekly timeframes.