The US Dollar Is Consolidating. Investors Expect the First Presidential Debate

Yesterday, the US dollar index (#DX) closed the trading session in the red zone (-0.40%). At the moment, the American currency is moving in different directions against the basket of currency majors. Investors have taken a wait-and-see attitude before the first debate between the Republican President Donald Trump and his Democrat challenger Joe Biden. The two are expected to answer questions about everything, starting from health care during COVID-19 to national security and immigration. Trump may also face questions about his taxes. It should be recalled that on Sunday, The New York Times published an article about the president's taxes, according to which it became known that he had not paid taxes for years, and in the year of his election, he paid only $750.

The British pound has been growing. While both the EU and the UK have said there is still a long way to go before a post-Brexit deal is concluded, European Commission President Ursula von der Leyen has said the deal is still possible. The European Union and the UK have begun a crucial week of negotiations. The British pound was also supported by the comments by the Deputy Governor for Markets and Banking, who rejected the idea that the regulator adheres to negative interest rates.

According to Johns Hopkins University, the total number of deaths from COVID-19 has exceeded 1 million. The largest number of cases of coronavirus was found in the United States, India and Brazil. In the United States, 7,148,009 cases of infection were detected, in India, 6,074,702 cases were recorded, in Brazil – 4,745,464.

The "black gold" prices are declining. At the moment, futures for the WTI crude oil are testing the $40.35 mark per barrel. At 23:30 (GMT+3:00), API weekly crude stock will be published.

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.66%), #DIA (+1.55%), #QQQ (+2.08%).

The 10-year US government bonds yield is consolidating. The indicator has reached 0.65-0.66%.

• - CB consumer confidence index at 17:00 (GMT+3:00).

by JustMarkets, 2020.09.29

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.