FOREX SUMMARY

A super busy session for FX and across assets.

• Risk Off hit hard on the Govies opening bell.
• Chance of a US Stimulus package before the election, are all but gone according to Mnuchin, blaming politics.
• France is "a couvre feu" following Covid spikes, and the data across Europe paint a bleak picture, with numbers worst than the initial first wave.
• These have been the drivers, and USD took its cue and rallied across the board.
• Worth noting that volumes on Core Bonds are running close to 190% averages for this time of the day, with buying pushing yields to new lows.
• USD test high of the day against EUR, GBP, AUD, JPY, CAD, SEK NOK, PLN, ZAR, MXN, and we are still seeing buying momentum at the time of typing.
• CEE FX have felt the pinch with the EUR under pressure, but also having their own issues on Covid cases for Eastern Europe. EURCZK, EURHUF, and EURPLN are testing high of the session.
• AUD is the worst performing currency against the USD in G10, down 1.23%,
• Risk Off and RBA Gov Lowe's speech which was widely interpreted as dovish, has weighted on the Aussie.
• AUDUSD is off the lows at 0.7074 at the time of typing.
• Looking ahead, US Jobless is the data of interest, while BoE Cunliffe, BoC Tim Lane, ECB Lagarde, Fed Bostic, Bullard, Quarles, Kaplan, Barkin, and Kashkari are the schedule speakers.
• ALL EYES of course on the EU Summit