The greenback was slightly softer across Tuesday’s session heading into the first live US Presidential debate. The buck meandered back and forth throughout the day as participants adjusted positions going into the eagerly anticipated political event.
President Trump and Joe Biden faced each other for a gruelling 90-minute battle. The debate quickly descended into name-calling and heated rhetoric. Bloomberg even labelled the final few segments as ‘chaos’. This comes as no surprise, the lead up to this election has already seen vast swathes of tit for tat name-calling. Sadly, politics now seems to have shifted away from policy content and more towards personality attacks.
Markets have seen a negative tone surface overnight following the spectacle. Equity markets are softer while the buck is firmer. GBPUSD is trading in the bottom half of the $1.28 handle while EURUSD is sitting just above $1.17.
It’s a busy final day of September. Month-end and quarter-end flows will be in full force this afternoon. Data wise, UK and US final Q2 GDP reports are on tap. Eurozone inflation as well as US ADP private payrolls are both due as well.
Have a good day
Written by Viv Savani. 7:45am, September 30th 2020
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