As the clock ticks to the election, expect more and more promises to sway the last voters.

The Democrat nominee Harris is now promising Republican representation in her cabinet.

Equal time to GOP nominee Trump, some of his recent promises:

• Interest on car loans will be fully tax-deductible.
• Intends to invoke the six-year renegotiation provision of the US-Mexico-Canada Agreement (USMCA).
• No Chinese EVs will ever drive on American roads
• Proposes a “detailed plan to save the American auto industry.”
• Vows to end double taxation for Americans living abroad. He is encouraging expats to register to vote.
• Promises to eliminate taxes on tips, Social Security benefits, and overtime pay.
• Proposes lifting the $10,000 cap on state and local tax deductions.
• Plans to extend individual income and estate tax provisions of the 2017 tax cuts law.

The problem with the interest on car loans is it applies to those that itemize deductions. Most American’s do not itemize deductions but take the lump sum amount each year.

This article was written by Greg Michalowski at www.forexlive.com.

The NZDUSD traded above and below the 100-day MA this week but above the 200-day MA (green line) into the mid-week RBNZ rate decision. The central bank cut rates by 50 basis points and that sent the pair below the 61.8% but buyers came in against the 61.8% retracement. The subsequent bounce off the low on Wednesday saw the price move back to the 200-day MA where sellers leaned, putting a lid on the pair.

There was one last move lower which took out the 61.8% and the low for the week, but quickly failed.

That led to a run back higher and back between, the 200-day MA at 0.6095, and the 100 day MA above at 0.61215. That is where the price is now.

Coming into the this week, the 100 and 200-day moving averages were key levels on the downside. As we end the week and look to next week, the same 100/200 day MAs will be key levels once again.

If the price moves above the 100-day MA on the topside, I would expect more upside probing with traders targeting 0.6167 to 0.61795 as the next target area. Move above and there will be more upside momentum.

Conversely, if the 200-day MA is broken on the downside, I woudl expect more downside mometum with traders once again targeting the 61.8% retracement at 0.60509. Move below and there should be more downside momentum.

This article was written by Greg Michalowski at www.forexlive.com.