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Index Looks to US Data for a Lift
The US dollar index barely shifted yesterday as it closed 0.14% lower.
Remaining above the 93 handle was significant as Goldman Sachs, JP Morgan, and Citi beat earnings forecasts.
The index is also reacting to the recent election poll data.
A Trump re-election would mean more deregulation and lower taxes. However, it would also mean more trade conflicts between the US and China.
On the other hand, a Biden victory would mean higher taxes for companies and more regulations. Reports also state that Biden has managed to raise almost a billion dollars in two months.
Later today, the dollar index will react to the US jobless claims data and manufacturing index numbers.
Renewed Coronavirus Concerns Weigh on Sentiment
The euro ended Wednesday’s session indecisively as the eurozone’s industrial recovery almost stalled in August.
The slowdown will be detrimental as we are now in full swing of a second wave across the continent.
France became the next nation to ...
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