Home Artikel Market News BIAS FOR EACH CURRENCY ON 23 OCTOBER 2020

BIAS FOR EACH CURRENCY ON 23 OCTOBER 2020

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🇺🇸 USD – BEARISH
1️⃣ Investors digest the latest presidential debate and stimulus talks. Joe Biden and Donald Trump had the last debate before the presidential election on Thursday and the Democrat continues to lead the polls.
2️⃣ House Speaker Nancy Pelosi signalled optimism on a stimulus deal but so far no agreement between Democrats and Republicans has been reached.

🇬🇧 GBP – BEARISH
1️⃣ Friday is the day when Chief EU Negotiator Michel Barnier provides his weekly assessment of the talks, and he could point to a lack of meaningful progress despite “intensifying” talks.
2️⃣ Flash PMI data showed that service providers reported a decline in new business for the first time since June.

🇪🇺 EUR – BEARISH
1️⃣ Investors remained cautious as they wait for news about Brexit negotiations and a US coronavirus aid package.
2️⃣ Flash PMI data indicated the first decline in private sector activity in four months, mainly due to a steep deterioration in the service sector due to rising coronavirus worries and restrictions.

🇳🇿 NZD – BULLISH
1️⃣ Appetite for the safe haven US Dollar weakened on hopes that US lawmakers can pass a much-sought-after fiscal stimulus package.
2️⃣ Senior economist at Westpac Bank Michael Gordon noted that current inflation’s reading was consistent with the RBNZ’s existing stance that the risks to its inflation outlook all lie to the downside and that extraordinary monetary policy support will be needed for a long time.

🇨🇦 CAD – BULLISH
1️⃣ A turnaround in the risk sentiment amid a rally in the European stocks weighed on the safe-haven dollar.
2️⃣ Prime Minister Trudeau survived a confidence vote on Wednesday after a key opposition party backed his ruling Liberals, averting the chance of a snap election.

🇦🇺 AUD – BEARISH
1️⃣ IHS Markit survey showed Australian manufacturing activity declined to 54.2 in October from 55.4 in September, as coronavirus-driven lockdowns in parts of the country continued to hamper economy recovery.
2️⃣ Expectations that the RBA will cut interest rates in November.

🇯🇵 JPY – BULLISH
1️⃣ Investors digested the final US Presidential debate, as President Donald Trump and former Vice President Joe Biden discussing topics including the response to Covid-19.

🇨🇭 CHF – BULLISH
1️⃣ Safe-haven demand as coronavirus cases continue to spread across the globe and especially in Europe.

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