Trump's Speedy Recovery Boosts Short-Term AUD & CHF
Posted On 10/31/2020 13:48:47 by wisepowder

While the public was worrying about whether Trump's condition would worsen, the president has been reported to be on a path to a full recovery and may be discharged from the hospital soon. His speedy recovery surprised financial markets, causing analysts to refocus on the underlying fundamentals.To get more news about WikiFX, you can visit wikifx official website.

  Although Trump debated hotly against Democratic presidential candidate Biden last Wednesday, the latest polls show that he has failed to turn things around as his support rate is still 10% behind Biden, coupled with his miraculously speedy recovery. Amid the dampened risk aversion, US stocks may have a chance to rebound sharply this week, which may push the DXY back to the resistance zone of 93.527-93.465.
As the greenback is hampered in the short term, there is room for non-dollar currencies to rebound, among which the euro and the pound are not strong enough due to their respective concerns. A recovery in global stock markets may boost the Australian dollar and the Swiss franc in the short term. This week, therefore, AUD/USD may grasp a chance to challenge the above resistances of 0.7267 and 0.7345, while the Swiss franc, another currency with no much concern, will vigorously challenge the support zone of 0.9121-0.9049 amid the hampered dollar.

  The vice-presidential debate was held on October 7. Although many people do not value it, I believe it is definitely worth watching this time because last week's debate between Trump and Biden is much more like a quarrel, which is arguably the worst one in American history. Thus all eyes should better turn to this debate for the relevant platforms. Besides, considering the advancing years of both the presidential candidates, the elected vice president will take office then once the elected president cannot finish the term for some reason. With that said, I believe the debate between the two vice-presidential candidates may send some volatility through financial markets. Thus investors should not take it lightly.

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