The Big Day is finally here!

By Peter Bukov|

Published: November 03 2020, 10:33 GMT+0

The Big Day is finally here!

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Finally, the day we have been waiting for is here! Today, the US elections will take place…and so far, it looks really calm in the markets – equities are up notably after yesterday’s rally (excluding tech), and the greenback is down a bit. 

Ahead of the London open, EU indices are trading 1% stronger, while the US benchmarks are seen as being 0.5% higher. 

Yesterday, the UK announced a nationwide lockdown, closing everything but essential services. It was apparently good news cause the FTSE 100 index is up 2% since then.

Oil was very interesting yesterday, surging 10% from daily lows on absolutely no news, with more lockdowns and less traveling apparently being a bullish factor here too.

Polls open today, although nearly 100 million voters have already cast their ballots by mail or by visiting the booths sooner. Therefore, the winner might not be clear after today’s voting, as it might take considerable time to count all those mail ballots. 

Later in the evening, the NZD labor market data are due for the third quarter, and investors expect numbers to worsen significantly. However, markets will be focused on the elections, meaning bad results might not eventually influence the NZDUSD pair.