Politics in markets are overrated but it's now six weeks until the US election and with the Fed sidelined and the first debate due Monday, it's time to take a closer look. The dollar was generally soft Thursday but the Swiss franc was the top performer while the yen lagged. The Japanese manufacturing PMI is due next. 8 Premium trades are currently in progress; 5 in FX, 2 metals and 1 in an index.
The two reasons for USD strength are Hillary Clinton and Donald Trump. Oddsmakers give Clinton about a 65% chance to win but Trump has closed in the polls. In this environment, there is no telling what will happen but one theme permeates from both candidates – spending.