- Analytics
- Market Overview
The US authorities are unlikely to approve an economic aid package before the election - 15.10.2020
Todays’ Market Summary
- The US dollar index dropped on Wednesday.
- On Wednesday, US stocks dropped for the second day in a row.
- World oil prices rose on Wednesday on the announcement by American Petroleum Institute of a 5.42 million barrels cut in US reserves over the week.
- Precious metals prices are declining today amid the strengthening US dollar.
Top daily news
Forex news
Currency Pair | Change |
EUR USD | -0.31% |
GBP USD | -0.32% |
USD JPY | +0.14% |
The US dollar index dropped on Wednesday. This was probably due to the increase in the number of covid-19 cases in the world. The greenback strengthened today as US Treasury Secretary Steve Mnuchin said there was too little time left before the November 3 presidential elections. The US authorities will not have time to pass a law on the allocation of financial aid. The Australian dollar quotes fell significantly today as a result the statement of the head of the Reserve Bank of Australia (RBA) Philip Lowe about the possibility of cutting the rate to 0.1% from 0.25% and increasing the emission to buy back Australian government and corporate bonds. Today, the US will publish data on unemployment for the week. The head of the European Central Bank (ECB) Christine Lagarde will also make a speech at the IMF annual meeting.
Stock Market news
Indices | Change |
S&P 500 | -0.66% |
Dow Jones Index | -0.58% |
Nasdaq 100 | -0.8% |
Nikkei Index | -0.51% |
GB 100 Index | -2.21% |
Commodity Market news
Commodities | Change |
Brent Crude Oil | -2.33% |
WTI Crude | -2.36% |
World oil prices rose on Wednesday on the announcement by American Petroleum Institute of a 5.42 million barrels cut in US reserves over the week. At the same time, the weekly decrease in heating oil was the highest since March this year and amounted to 3.93 million barrels. Today oil quotes dropped and almost won back all yesterday's growth. The US Energy Information Administration will release official stock data for the week with a 1-day delay due to the holiday, i.e. tomorrow. Now investors fear that the 2nd wave of coronavirus could still hurt global oil demand, since OPEC+ is unlikely to be able to react quickly.
Gold Market News
Metals | Change |
Gold | -0.37% |
Precious metals prices are declining today amid the strengthening US dollar. The greenback gets stronger as negotiations on the provision of financial assistance to the US economy were postponed. According to the Metals Focus forecast, world gold production in 2020 will be 4.6% less than in 2019 and will amount to 3368 tons. This is the minimum of the last 5 years. Production cuts support quotes.