Markets Stabilise as Biden Looks Almost Certain

Equities stabilised Friday, with some mild profit-taking taking the S&P500 off the week's high, but still clocking a gain on the week of more than 7%. Biden looks almost certain to enter the White House in the coming days, with key swing states continuing to heavily favour the former Vice President.

A better-than-expected Nonfarm Payrolls release also soothed markets, with the US adding 50k jobs more than expected, shrinking the unemployment rate to 6.9% - a drop of 1ppt.

The greenback traded weaker once more, with EUR/USD climbing to further multi-month highs of 1.1891 - putting the onus in the ECB as they look to 'recalibrate' policy in December.

AUD was the poorest performer Friday, with SEK, EUR and CHF among the strongest.

Data covering UK jobs, German ZEW surveys and European industrial production are due in the coming week, as well as the first formal Fed speeches since the FOMC decision.