Latest data from the Mortgage Bankers Association for the week ending 2 October 2020
–  -4.8%
– Market index 804.7 vs 769.6 prior
– Purchase index 316.0 vs 320.9 prior
The long-term mortgage rate slips to its lowest on record in the survey’s history, and that is arguably spurring the increase in refinancing activity – which carried the jump

The news sent the pound lower from 1.2960 to 1.2920
Bloomberg is reporting that the EU has no plans to offer concessions to Boris Johnson before next week’s Brexit deadline on 15 October (this is the UK’s deadline FWIW), betting that he won’t make good on the threat to walk out without a deal.

Forex news from the European trading session – 6 October 2020
Headlines:
Markets:
– CHF leads, AUD lags on the day
– European equities a little higher; E-minis down 0.2%

The firm says negative rates are unlikely even if there is a no-deal Brexit
„With two heavyweight insider MPC members ( and ) coming out publicly in opposition, at least at the moment, we see a high barrier to negative policy rates. We now think that outright cuts in the bank rate to below zero in

Politico reports
The report says that talks between Pelosi and Mnuchin are going ‚very slowly‘, citing a source from Pelosi’s conference call with Democratic leaders. There’s not much else besides this but at least negotiations are still ongoing for later in the day.

St Louis Fed president, James Bullard, speaks in a WSJ interview

Forex news from the European trading session – 5 October 2020
Headlines:
Markets:
– CHF leads, JPY lags on the day
– European equities higher; E-minis up 0.7%

What’s moving markets to start the week
Things are looking up
as the new week gets going. For the most part, reports around President Trump’s
health have been positive, while investors are also feeling good about the
prospects for the next round of US fiscal stimulus. 

If you can’t campaign physically, tweet it out
A series of tweets that Trump has posted in the past few minutes:

STOCK MARKET HIGHS. VOTE!
STRONGEST EVER MILITARY. VOTE!
It is likely that he will still go on with the list above. I

Comments by UK prime minister, Boris Johnson
– I have no doubt that we can get on top of this virus
– Outbreak seems more localised this time than it was in March, April
Johnson trying to ease concerns and continuing to defend the strategies the government has employed in curbing the spread of the virus. The numbers