US election brewing and three major rate decisions looming, here is what to focus on

Important news for the week

• Tue, 05th, 04:30 CET AU RBA interest rate decision.

• Tue, 05th US Presidential election.

• Thu, 07th, 13:00 CET UK BoE interest rate decision.

• Thu, 07th, 20:00 CET US FED interest rate decision.        

US election in focus

This week will focus on the two major interest rate decisions from the UK and the US. Yet both events might also move out of focus since the US election will potentially shape markets. With both candidates focussing on different policies markets might also proceed in different directions, depending who will be the winner in the end. In general the Dollar seems to weaken slightly at the beginning of the week and might lose further steam against most other currencies. Stock markets remain in a sideways pattern seemingly not able to capitalize on this for now. The market open in the US might hence offer more insights here. 

Market talk

The oil price starting positive into the new week, potentially fuelled by weakness of the Greenback. Also the Aussi is heading to higher levels and potential strength might also come from the interest rate decision, which is due early morning tomorrow. Crypto markets offer setbacks as Bitcoin in particular printed a strong bearish candlestick pattern off the weekly chart. A win of Donald Trump for the US election might be a catalyst for higher prices in markets. As the sentiment turns slightly positive Gold and Silver prices push lower. Further negativity might be seen, here.

Tendencies in the markets:

• Equities sideways, USD weaker, cryptos weak, oil positive, metals weak, JPY stronger.