03/10/2024
Written by: Ian Morley
Summary:
The USD strengthened on Friday amid circulating rumours that Joe Biden would withdraw from the presidential race. These rumours were confirmed over the weekend when Biden officially announced his decision to drop out. The focus now shifts to Kamala Harris, who is currently the leading candidate for the Democratic nomination.
Speeches:
Market Insight:
Market response to the developments in the US has been muted, as similar reports have been circulating over the past week. The economic calendar is relatively quiet today, with the majority of significant data releases scheduled for later in the week. On Wednesday, PMI figures will be released from the UK, EU, and the US. Thursday will see the advanced Q2 GDP numbers from the US, followed by the core PCE inflation data from the US on Friday.