US 10-year Treasury yields struggle below 0.80% amid Trump-Biden race

US 10-year Treasury yields seesaw near three-week low flashed the previous day.
Biden keeps the lead in the US presidential election race, Trump stays hopeful.
Virus woes, Fed Chair’s comments tame stimulus hopes.

Anil Panchal FXStreet

US 10-year Treasury yields look for a clear direction, down 0.7 basis points (bps), around 0.77% during the early Friday. The coupon slumped to the lowest since October 15 on Thursday before bouncing off 0.718% amid fresh chatters over the US elections.

Although the current President Donald Trump leads the vote tally, by a small margin, in Georgia, his overall electoral vote count, currently near 220, is way below his Democratic rival Joe Biden’s 260+ figures. Also, the recent news from Arizona and Pennsylvania offered additional hopes for the Democratic president in the US.

Check live updates for the 2020 US elections here.

While Trump’s attempt to block vote counts and challenges to the results of some states raised hopes of a mixed Congress, market optimism bolstered amid hopes of easy money from the stimulus-friendly party, i.e. Democratic Party. Even so, the recent challenges from the coronavirus (COVID-19) front, with the daily record of new cases in America, probe the risk-on mood.

That said, S&P 500 Futures print mild losses while stocks in Asia-Pacific stand on the other extreme by press time.

Global markets are prone to the US election news while October month employment numbers, including the headlines Nonfarm Payrolls (NFP), will offer an additional catalyst to watch.

Read: Nonfarm Payrolls Preview: Encouraging data but little action expected

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD rises to near 1.1650 amid dovish Fed expectations

EUR/USD edges higher after registering gains in the previous six successive sessions, trading around 1.1650 during the Asian hours on Monday. The pair appreciates as the US Dollar struggles amid dovish Federal Reserve expectations. Friday’s slower-than-expected US jobs growth suggests the US central bank could hold interest rates steady later this month.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold hits a fresh record high as rising geopolitical risks boost safe-haven demand

Gold scales higher for the third straight day and climbs to a fresh all-time peak, beyond the $4,550 level, during the Asian session on Monday. Reports that US President Donald Trump is weighing a series of potential military options in Iran following deadly protests in the country fuel the risk of a further escalation of geopolitical tensions amid the protracted Russia-Ukraine war. This, along with rising bets for more rate cuts by the Fed, offsets the recent US Dollar rally and is seen benefiting the safe-haven bullion.

Week ahead: US CPI might challenge the geopolitics-boosted Dollar

Geopolitics may try to steal the limelight from US data. A possible US Supreme Court ruling on tariffs could dictate market movements. Dollar strength might be tested if investors refocus on Fed expectations. A crammed data calendar next week, US CPI comes on Tuesday; Fedspeak to intensify. Euro weakness persists, lingering risk of deterioration in US-EU relations.

The weekender: The market that refused to blink and dispersion is the signal

Last week was supposed to be a week of verdicts. Jobs. Tariffs. Rates. Instead, markets got ambiguity and treated it like oxygen. December payrolls undershot expectations but remained well within the market-perceived bullish-for-equities tolerance. 50,000 jobs added and unemployment down to 4.4% kept the data squarely in the Fed no-action zone.

XRP trades under pressure amid weak retail demand

XRP presses down on the 50-day EMA support as risk-averse sentiment spreads despite a positive start to 2026. XRP faces declining retail demand, as reflected in futures Open Interest, which has fallen to $4.15 billion.