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FX Update

International Trade

Worldwide coronavirus cases surpass 57.2 million with over 1,364,000 official deaths.

        Key Points:

  • Australian Unemployment rose from 6.9% in September to 7.0% in October
  • The RBNZ Wednesday acknowledged less justification for interest rates to be lowered. We see rates being cut in May 2021 to 0.10%
  • US coronavirus daily numbers are continuing to get bigger with 165,000 new cases yesterday and 164,000 Wednesday with a total number of just over 3M Americans now with the virus. Alarmingly over 1.15M have been diagnosed in the past 7 days. 
  • President Trump’s legal claim regarding ballot counting in the state of Wisconsin started Wednesday with Elections Commission officials agreeing to recount ballots in Milwaukee and Dane counties.
  • Moderna boost risk markets after their vaccine trials report 94.5% effectiveness.
  • UK’s Frost has informed Prime Minister Johnson to expect a Brexit deal early next week.
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