In the commodity market, oil prices can’t find their support as investors concerned about a second wave of the pandemic. Brent has dropped 0.53% to break below $40 for the first time since June. WTI futures are down 0.65% to $36.52.
The number of confirmed COVID-19 cases continues to increase in India, the UK, Spain, and many US states, and globally.
Gold is failing to play its safe-haven card, as the metal has declined 0.33% to 1,936.70.
In FX, the US dollar and Japanese yen are benefitting from the tech selloff. The US Dollar Index, which tracks the American currency against six other currencies, edged up 0.04% to 93.490. Investors are also waiting for the European Central Bank (ECB) meeting tomorrow. The ECB has previously hinted that the bloc’s currency was too strong for its monetary policy.
Elsewhere, the British pound continues to decline amid increasing fears of a no-deal withdrawal from the European bloc. GBP/USD fell below 1.30 to the lowest since July. UK Prime Minister Boris Johnson said that Britain would accept a no-deal Brexit if negotiations make no progress by mid-October.
