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LIVE: US GDP surges 33.1% covid-clouded ECB's Lagarde awaited

US GDP leaped by 33.1% annualized in Q2, better than expected. The ECB has left its policy unchanged and markets await the presser from President Lagarde. She may hint at more action as coronavirus paralyzes the European economies. 

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GBP/USD tumbles below 1.30 as market mood worsens

GBP/USD has dropped below 1.30, reversing its Brexit-related gains. Growing concerns about coronavirus in the UK and the US elections are weighing on the pound.

GBP/USD News

Gold depressed near 1-month lows, below $1870 level post-US GDP

Resurgent USD demand prompted some fresh selling around gold on Thursday. The USD stood tall following the release of upbeat US third-quarter GDP report. The US economy expanded by 33.1% annualized pace as against 31% expected. 

Gold News

Virus is out of control so are the markets

At the beginning of the week, we warned of a possible volatility spike and turbulence in financial markets with only a couple of days remaining to the US presidential election. However, Wednesday turned out to be an ugly one for investors and much worse than expected. 

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WTI: Sell-off resumes, September low of $36.13 at risk

WTI extends the rout on coronavirus lockdowns in the EU. Rising US crude supplies intensify supply glut worries. US Q3 GDP and virus data to dominate the market sentiment.

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