EUR/AUD rose to 1…
Dollar Pares Early Gains, Stock Market Moves Higher
Information is not investment advice
Midday Market View
Europe's economy is stalling again as rising numbers of Covid-19 infections interrupt the return to normal life. As a result, the stocks that benefited most from the first wave post-pandemic buying are getting a new lease of life.
Midday Key Point
- German cabinet reportedly approves 2021 draft budget, new debt of €96.2 billion
- JP Morgan set to move €200 billion assets to Germany in Brexit shift
- Eurozone September flash services PMI 47.6 vs 50.6 expected
US stock markets are set to open mixed as the post-Pfizer rally is reassessed, but cyclicals are still clearly outperforming the growth and momentum names that have notched the biggest gains during the pandemic.
Biden maintains the lead in crucial Pennsylvania. EUR/USD little changed since this morning.
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