EUR/USD is trading above 1.18, recovering from Monday's fall-related to rising coronavirus cases, fading chances for US stimulus, and election uncertainty, one week to go. US data is eyed.
GBP/USD is under pressure above 1.30 as rising UK COVID-19 cases, uncertainty about Brexit and PM Johnson's political problems weigh on sterling.
Gold witnessed some fresh selling at higher levels and has now drifted into the negative territory. A modest pickup in the USD demand, stability in the equity markets contributed to the pullback.
Markets are recovering and the dollar is edging lower after covid concerns and realization that US fiscal stimulus is not coming hit markets.
WTI attempts a recovery but not out of the woods yet, as sellers continue to lurk around $38.80 levels amid the cautious market mood. Saudi Oil Minister’s comments, USD retreats support oil. Coronavirus data and API crude stockpiles in focus.