⁍ The dollar found support on Monday, as surging coronavirus cases in Europe and the United States put traders in a cautious mood.
⁍ The week ahead holds three major central bank meetings and the final sprint to the polls in the United States.
⁍ The Bank of Canada and Bank of Japan are expected to hold fire for now, while the market assumes the European Central Bank will sound cautious on inflation and growth.
– The Dow Jones Industrial Average and S&P 500 were poised to open lower on Monday, as the markets awaited President Trump’s expected response to his economic stimulus plan, reports MarketWatch. The Dow fell more than 100 points, or 0.4%, in the first minutes of trading, while the S&P was down 10 points, or 0.4%, and the Nasdaq was down 30 points, or 0.4%, per MarketWatch. “The combination of receding hopes for a pre-election fiscal deal and the news on COVID and potentially stricter lockdowns is to take a bite out of the stock market,” National Australia Bank’s Ray Attrill tells Reuters.
Source: https://www.reuters.com/article/us-global-forex/dollar-firm-as-virus-spread-and-stimulus-stalemate-raise-caution-idUSKBN27B01B