The Results of the US Presidential Election Are in the Spotlight. We Expect the Fed Meeting

There is still uncertainty in financial markets. Trading activity and volatility are quite high. Financial market participants expect the results of the US presidential election. According to preliminary data, Donald Trump and Joe Biden have approximately equal votes. We recommend following uptodate information on this event.

The Bank of England, as expected, has kept its key interest rate unchanged at 0.10%. The regulator has expanded its £150 billion government bondbuying program to fight the consequences of the coronavirus epidemic. At the moment, traders have taken a waitandsee attitude before today’s Fed meeting. The Central Bank is expected to keep key marks of the monetary policy at the same level. We recommend paying attention to the comments by the regulator’s representatives.

Oil quotes are consolidating. At the moment, futures for the WTI crude oil are testing $39.05 per barrel.

Market indicators

Yesterday, there were purchases on the US stock market: #SPY (+2.23%), #DIA (+1.41%), #QQQ (+4.46%).

The 10year US government bonds yield has become stable after a sharp collapse the day before. At the moment, the indicator is at the level of 0.730.74%.

• Construction PMI in the UK at 11:30 (GMT+2:00);
• Initial jobless claims in the US at 15:30 (GMT+2:00);
• Fed interest rate decision at 21:00 (GMT+2:00).

by JustMarkets, 2020.11.05