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Downside continuation in early trading

DOLLAR

Selling continuation in USD, with equities underpinned as we start the European session.

  • USD test low against EUR, GBP, CHF, NOK, CNH, SGD, KRW, CZK, and ILS, albeit within ranges
  • MNI tech, in the EURUSD, sees next resistance at 1.1808 High Oct 6 and the intraday bull trigger. EURUSD is 1.1779
  • U.S. Vice-Presidential debate was rather unimpressive and offered little of note
  • New US polls have Biden widening its lead 53%-43% in the Fox news poll Quinnipiac (as noted by Bloomberg) has Biden leading Trump by 11% in Florida, 13% in Pennsylvania and 5% in Iowa
  • Focus is on Brexit and any possible moves on US stimulus, after Pelosi said that she would be open to a Airline stimulus.
  • Today, sees US Jobless claims, Fed George, Rosengren and Bostic.
  • In term of supplies, we get $23bn of 30yr
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