News, Trends, & Analytics 03.11.2020

Election Fever in the U.S.

Today, the focus is on the election in the US and lockdown fears across Europe.



03:30 UTC

The Royal Bank of Australia will release the latest interest rate. Predicted to remain the same. If the interest rate is lowered, the AUD will rise.

Assets to trade: AUD/USD, EUR/AUD

21:45 UTC

The Employment Change data for New Zealand for the third will be published. If the new data is higher than -0.8, the NZD may strengthen.

Assets to trade: GBP/NZD, EUR/NZD



Investors fear a contested result from today’s election in the US. Affects USD

Positive data on accelerated factory activity in Germany boosted confidence. Affects DAX

Lockdown worries grip London. Affects GBP

Goldman Sachs cut Europe’s fourth-quarter economic forecasts on Monday as COVID-19 cases led to countries announcing partial nationwide lockdowns for November. Affects EUR

The International Monetary Fund warned G20 major economies that the coronavirus crisis is not over and will require more spending than currently planned. Affects Gold


Technical Analysis


The excitement around the presidential election has continued to keep the US in the headlines and with it the buoyancy of the USD. Fears around the results of the election circle around more than who will win. As COVID-19 continues to ravage both areas, concerns seem to weigh less heavily on the USD.

Election turmoil could continue to float the USD. The chart shows the pair approaching its recent support level. The current momentum could drop the price below it.


A recent uptrend after a sharp downtrend could continue to gain momentum.


The price may meet bounce off of its upward support level.

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