In the commodity market, oil prices have surged over 2% in early trading on Monday on optimism around Trump’s health, after his doctors delivered positive comments and suggested he might be released from the hospital as early as today. WTI is up 2.43% to $37.97, and Brent has increased by 2.19% to $40.13. On Friday, both crude brands lost over 4% amid uncertainty caused by Trump’s positive testing just about one month ahead of the presidential election. On a side note, Democrat candidate Joe Biden leads the polls by more than 10% over Trump.
The same optimism surrounding Trump is putting pressure on gold prices. The metal is currently down 0.53% to $1,897, after the best weekly performance since early August.
In FX, the US dollar has recovered slightly after Trump’s tweet, but the USD Index is still down 0.06% to 93.843. EUR/USD is up 0.09% to 1.1728, though the pair is moving sideways on larger timeframes.
The sterling moves in tandem with the greenback. The British currency is under increased pressure as the deadline to secure a deal with the EU is expiring next week, and the two sides still cannot reach consensus.
