Forex news for North American trade on November 6, 2020:
Markets:
It was a wild week but the final session was a more-subdued affair as the slow count in the US continued in what looks like a march to victory for Biden. The jobs report didn’t deliver much in terms of market moves but a Fox report

Forex futures positioning for the week ending November 3, 2020.
– EUR long 140K vs 156K long last week. Longs trimmed by 15K
– GBP short 11K vs 7K short last week. Shorts increased by 4K 

Gold up $2 to $1951 today
Credit Suisse
„Gold extends its consolidation from our $2075 target hit in August
and we maintain our core view this is a temporary and corrective pause
in the broader uptrend,“ CS notes. 

This has become the usual filler in between negotiations
It seems like both the EU and UK are willing to let this run for a while longer, but that will run it close to the end of the transition period on 31 December.

What is the latest state of play as the vote count continues
Trump’s lead in the state had been gradually slipping and the last few batches of the vote count from Clayton County helped to shift the tide in Biden’s favour.

Amid all the election drama, there is the October US jobs report at 1330 GMT
This is truly going to be a non-event, all things considered. If you weigh up the employment data from earlier in the week (⬆), all signs point towards the risks being skewed to the downside as we look towards the non-farm

EUR/USD keeps at the highs near 1.1850 at the moment
The dollar is trading rather mixed in the European morning, keeping a slight advance against the pound, aussie and loonie but trading lower against the euro, franc and kiwi.

Biden flips Georgia in his favour based on the latest vote count
–
Biden: 49.4% (2,449,371 votes)
– Trump: 49.4% (2,448,454 votes)
This comes after another batch of votes are reported from Clayton County and there are still more a few more

BBC political correspondent, Nick Eardley, reports in a tweet
NEW: Chancellor set to extend furlough until March, sources have told the BBC. Details just after midday – not clear if it will mean full 80 per cent.
Well, Sunak will be addressing parliament soon – scheduled to be at the top of the hour – on the

Villeroy says the Bank of France will publish its first estimate of the impact of the second lockdown next Monday
I think the headline is very much expected, otherwise the market wouldn’t take too kindly on the news. That said, the lockdown is still expected to drag French Q4 economic output into negative territory and that