FOREX TRADING STRATEGY NOV 2 - THE BIG ELECTION

Nov 02, 2020
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The start of November marks the end of the big election in US, which will definitely impact the markets greatly. Let's check out the latest updates in the financial market so you know what to expect.

Last days

Democrat Joe Biden leads President Donald Trump in a series of polls released on Sunday. He still leads nationally and in the battlefield states of the United States, although some races are still very close. The New York Times and Siena College showed Mr. Biden ahead in Pennsylvania, Florida, Arizona and Wisconsin, all of the key shaking states that Mr Trump used to have in 2016. 

forex news Nov 2

The post shows that Trump has a narrow lead in Florida, 50% - 48%. The same poll found Mr. Biden leading 51% - 44% in Pennsylvania. As the candidates spent the final days of the race through those key battle states, more than 93 million people voted, nearly 68% of the 2016 total.

Markets on Monday

Stocks will bounce back from tech stocks' sell-off in Asia as traders prepare for a key week that could set the tone for the rest of the year, which is the United States election. Federal Reserve period and policy meeting. Futures markets in Japan and Australia closed Friday with a gain, suggesting that the Asia-Pacific region could start November on a favorable momentum after two months of losses on global stocks. bridge. The pound slumped as increased restrictions in the UK to control the corona virus overshadowed signs of progression about Brexit. Traders will then follow the release of data on Chinese manufacturing to capture any clues as to the trajectory of the recovery there.

Attack on Fauci

The White House has vehemently lashed out at Anthony Fauci after the nation's leading infectious disease expert criticized the Trump administration's handling of the coronavirus pandemic. Fauci, director of the National Institute of Allergy and Infectious Diseases, told the Washington Post that the United States is suffering "a lot" from the Covid-19 pandemic and forecasts that the death toll will increase during the winter. The White House said Mr. Fauci was "playing politics" just days before the election. Cases in the United States have slowed as the country's infection rate is over 9 million. The British partial blockade may have to be lengthened.

Rare respond

Before the biggest anti-government rally in years, King Maha Vajiralongkorn called Thailand "the land of compromise" in a rare public comment after months of protests in the Southeast Asian country. The King of Thailand responded to a UK Channel 4 News question as to whether there is room for compromise between protests when he meets supporters in an act. More than 62% of respondents to a poll published a week ago by Suan Dusit University in Bangkok said dissatisfaction with Prime Minister Prayuth Chan-Ocha was the main reason for the recent protests. The protesters are also pushing for a more democratic constitution and greater accountability to the king.

Winter in China and India

As the army in the Himalayas copes with a devastating winter ahead, the outcome of the worst clash in decades is becoming clearer: China has moved deeper into territory which was patrolled exclusively by India. And while normally both sides are usually withdrawn during the winter months, this year, the soldiers guarding important heights are in temporary shelters. 

forex news November 2

A fighting summer saw India lose control of more than 300 square kilometers (115 square miles) of land along disputed hilly terrain. The threat to both sides is control of strategic outposts such as the Karakoram Pass, which run from India into China's Xinjiang region. Retaining the ancient Silk Road has the potential to open trade corridors into Central Asian countries, which has been key to the success of President Xi Jin's "Belt and Road" initiative.