In the commodity market, oil prices have lost about 0.20% on Thursday morning, but they gained over 2% yesterday. Crude prices were boosted after the American Petroleum Institute reported a 5.4 million barrel draw in inventories for last week, while investors expected a draw of 2.3 million barrels. Also, OPEC countries seem to be complying with the production cut requirements. WTI trades near $41 while Brent hovers above $43.
Gold is declining amid a stronger US dollar, as investors realize that the next stimulus package might not come before the election. Gold futures fell 0.20% to $1,903.
In FX, the US dollar leverages its safe-haven status amid the deadlocked stimulus talks and increasing COVID cases in Europe. The USD Index rose 0.08% to 93.440. Still, the euro is stronger today, gaining 0.2% in pair with the greenback, to 1.1749.
AUD/USD tumbled by 0.57% after RBA Governor hinted to further interest rate cuts.
The British pound declined slightly against the USD and the euro after UK PM Boris Johnson expressed disappointment with lack of Brexit deal progress. Nevertheless, the sterling rose about 0.60% against the two majors on the news that the negotiations deadline may be extended from October 15 to January 1, 2021.
