Financial Markets Daily Report 06 November 2020
In yesterday's session, investors traded with a positive tone as the Federal Reserve kept its monetary policy unchanged and vote counting continued in the US. The Democrat candidate, Joe Biden, has taken the lead and potentially winning one more state would be sufficient for him to become the US President.
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- In yesterday's session, investors traded with a positive tone as the Federal Reserve kept its monetary policy unchanged and vote counting continued in the US. The Democrat candidate, Joe Biden, has taken the lead and potentially winning one more state would be sufficient for him to become the US President.
- On monetary policy, the Fed released a virtually unchanged statement and insisted that fiscal support is "critical" for the economic recovery. Fed's interest rates are expected to remain at the current low levels at least until 2023.
- In this context, financial markets volatility continued to ease, stock indices rose across the board and sovereign yields were broadly unchanged in the euro area and in the US. In FX markets, the US dollar weakened against most advanced and emerging economies' currencies and the euro fluctuated above $1.18.
- Today, the focus will be on the US employment report for October.