The Greenback lost momentum as uncertainty is rising
Yesterday United States President Donald Trump proposed that his country may require to “delay the election,” alleging that postal- voting will probably result as “the most inaccurate and fraudulent election in history.”
The president has no authority to unilaterally postpone elections, which are fixed to take place a day after the first Monday of November during a mid-19th century bill established by the Congress. This is the first time to even consider this because up to today no one has changed the date, said presidential historian Michael Beschloss.
Nevertheless, the President has personally refused, considering adjusting the date of the election. He said “I never even thought of changing the date of the election, why would I do that? November 3rd. It’s a good number,” Trump said on April 27 at the White House. “I look forward to that election.”
Stock futures positive after better than expected earnings
Stock futures early morning relaxed from their initial rally, still continued to be in the positive area following a day that included some of the big names in tech stocks earnings including Amazon, Facebook, Alphabet, and the mobile giant Apple. Their quarterly outcomes beat expectations and that fact seems to raise the confidence for the popular stocks. Dow Jones Industrial Average futures went higher by 18 points. S&P 500 futures and Nasdaq-100 futures likewise exchanged in the positive area. Apple reported a great quarter, with overall sales increasing by 11%.
Oil got some profits back
Oil prices surged today after falling to a 21-day low in the last trading session. The decline came after a blow by a record fall in U.S. growth as the coronavirus hit the world’s biggest economy and oil consumer.
Brent crude moved up by 40 cents, at $43.34 a barrel. Yesterday Brent settled with 1.9% lower but had regained much of the territory lost from the weakest level since July 10.
Gold still green
The safe-haven Gold seems to be looking to score its best month. This performance was last seen more than four years ago, as a softer greenback and concerns about the global economic results from the increasing COVID-19 cases seem to push investors towards the safe-haven metal. Spot gold was even at $1,958.99 per ounce. The yellow metal surged 10% so far this month This is considered to be its biggest percentage increase since February 2016.
The above content is considered to be market commentary information and shall not be perceived as independent investment research or investment advice.