(CercleFinance.com) - What a calm on the foreign exchange market!

The Dollar does not even shift by -0.1% against the Euro (1.1720), +0.05% against the Yen or +0.1% against the Swiss Franc.

And what a contrast with the +4.3% of the Nasdaq (+6.6% in 3 sessions), the +3.5% of oil, the -11Pts yield of the Dollar (fallen to 0.775% over 10 years).

Not to mention the 'non-result' of the presidential elections, which was considered the 'worst-case scenario': no winner, very close results, many proven grounds for protest and already a request for a recount in Wisconsin (more votes cast than voters seems to be a lot). he).

The United States can prepare for a long legal battle, which does not prevent Joe Biden's staff from judging in a statement the victory of the Democratic candidate acquired, with the tipping of the counts in Michigan and Winsconsin.

With a projection of 270 to 268, Joe Biden is potentially elected and the markets are paying as if it were a matter definitively settled.

But even imagining a confirmation of the election, the Senate and the House of Representatives will be of 2 different colors, that too, it was the 'worst scenario'.

The electoral context completely obscures ADP's very bad monthly survey of the private sector in the United States: it created only 365,000 jobs in October, a figure lower, and spectacularly lower than expectations (650,000) and even more than half compared to that of September (+750,000).

The relative good surprise is the rise in the 'services' PMI which rose by +2.3Pts to 56.9 and then the slight contraction of the US trade balance deficit which fell from 67 billion dollars in August to 63.9 billion in September, according to statistics released today by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

Copyright (c) 2020 Cercle Finance. The information and analysis disseminated by Cercle Finance is only a decision aid for investors. Cercle Finance cannot be held liable directly or indirectly following the use of information and analysis by readers. It is recommended that anyone who is not aware consult a professional advisor before investing. This indicative information does not in any way constitute an inducement to sell or a solicitation to buy.