It is the eve before the US election
The market has plenty to digest ahead of tomorrow, with a fresh lockdown in the UK also weighing on things following last week's announcements by Germany and France.
For now, equity traders are perhaps taking one final lap out to "enjoy the sun" before all the volatility kicks in later this week and all the potential uncertainty beckons.
That said, I'd argue that risk positioning is still on the more cautious side after having seen the declines in stocks last week with the S&P 500 having kept below its own 100-day moving average @ 3,307.88 on Friday.
S&P 500 futures are now up by ~0.8% while European equities are keeping firmer as well across the board. The DAX is up by ~0.7% currently as well.
However, not all is looking bright in the market, as the prospect of lockdown measures is weighing heavily on oil prices. WTI was down by over 4% earlier but has trimmed losses slightly from around $34.10 earlier in the session to $34.85 currently.
Meanwhile, Treasuries are looking rather disinterested and in the currencies space, the dollar is keeping slightly firmer with USD/JPY hovering just under 105.00 while EUR/USD was pushed lower earlier to test support around the region of 1.1612-27.
The pound is leading losses though, as we see cable sellers try to contest the 100-day moving average @ 1.2878. The low today hit 1.2855 before a slight bounce to 1.2875.
