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US markets to pick up after heated election debate?

By Callum Holmes September 27th, 2016

It was seen as a quiet day in terms of US data, with only new home sales figures showing a slight increase from expectations – however, these were still poorer than previous figures.

The main focus was on the televised US presidential election debate where Donald Trump and Hillary Clinton clashed on almost every topic. With the election fast approaching on November 8th and the polls suggesting it will be a closely fought race, the markets will be increasingly nervous about which way the result could go.

Today we can look forward to Flash Services Purchasing Managers’ Index (PMI) data, where a small increase is expected from last month’s reading, at a high of 3 months. Consumer confidence data follows later in the day is expected to decrease; any deviations from expectations could cause stirring in the US dollar. US Federal Reserve Member Fischer is also due to speak later in the afternoon and his words will be vetted for potential clues in terms of potential shifts in monetary policy.