Yesterday’s US stocks plunged and DJIA fell to $ 965 temporally. The number of newly infected people of CODID-19 in US is the highest ever, and risk-off bias is increasing.
Forex market was also in risk-off USD buying. EURUSD temporarily fell to 1.1805. GBPUSD was also sold, temporarily broke 1.30, but ended at around 1.3025.
Basically, it seems that quiet market will continue waiting for the result of US presidential election.
However, there is a view that USD selling on risk-on days is stronger than USD buying on risk-off days like yesterday. EURUSD is likely to be conscious of the weekly pivot 1.1815, 1.18, and the 20 Daily-MA around 1.177. ECB is scheduled for Thursday, 29th this week. Additional easing within this year has been factored in to maintain a long-term upward direction.
Yesterday’s currency strength
US market yesterday
DJIA: 27,685.38 (-650.19, -2.29%)
NASDAQ: 11,358.94 (-189.35, -1.64%)
S&P 500: 3,400.97 (-64.42, -1.86%)
GOLD: 1,905.3 (-0.4)
OIL: 38.63 (+0.07)
US 10-YR: 0.796 (-0.007)
VIX: 32.46 (+4.91)
Asian market today
Nikkei: 23,401~ (-92)
CME Dow future: 27,655~（-30 Dow）
Economic indicators today
GMT 21:45(NZ) Trade Balance
GMT 14:00 (US) Consumer confidence index