This week marks a turning point for the two biggest economies in the world. The United States election takes place on Tuesday. There are diverging polls circulating, but no clear advantage is given to a single candidate. China meanwhile is readying itself for a power transition that will highlight the National Congress with a new leader. In China’s case the outcome seems to be more defined with a clear successor in Xi Jinping.
The European crisis continues to erode confidence in the EUR and it is expected the ECB will comment on the current situation with the objective to reassure investors and support member states. Greece and Spain continue to be in the spotlight as their economies continue to suffer from a debt crisis and there are questions raised by the more stable European states if they are doing enough to remain in the eurozone.
Europe
- RPT-Euro falls to near two-month low versus dollar | Reuters
- Grexit After the US Elections? | Forex Crunch
- Spain’s Borrowing Conundrum – The Euro Crisis – WSJ
- BBC News – IMF and Gallois report urge France to cut labour costs
- BBC News – Greece presents crucial cuts package to parliament
United States
- BBC News – US economy: Who to blame for poor economic performance?
- Service Sector Growth Cools for First Time Since June – US Business News – CNBC
- Who will take over the Treasury? – Nov. 5, 2012
- New Storm Stands to Set Retailers Back Even Further – MarketBeat – WSJ
- Traders Playing It Safe Ahead of Election – MarketBeat – WSJ
China
- China accuses EU of breaching world trade rules over solar panels | Business | The Guardian
- China at a Turning Point as New Leadership Takes Over – Asia Business News – CNBCÂ
Japan
Canada
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019