Losing control

Today’s news headlines:

‘Johnson "will not hesitate" to impose more virus restrictions’. The UK could be heading towards a second lockdown after the government’s Chief Scientific Adviser admitted that the virus was not ‘under control’ in the UK. Johnson added that he would not hesitate to take further measures that would be more costly than the ones in place currently and that he would defy those who want the government to ‘give up and let the virus take its course’. The latest daily data showed a continuing rise in infections, with 71 deaths and 7,108 cases. (Financial Times)

‘Republicans hit out at Trump’s aggressive debate performance’. Figures in the Republican party have distanced themselves from President Trump following his refusal to condemn white supremacists in Tuesday’s debate. A slew of senators, battling for re-election this November, have called for the President to be very clear that there is no room for those on the far-right and that Tuesday’s debate did not help educate the American people. Meanwhile, the most recent polling data continues to predict a win for Biden in November. (Financial Times)

Today's events, rates, and data 

• The Dollar fell on the last day of September, partially due to stronger data out of the US and increased hopes of US fiscal stimulus, which left investors seeking a return to riskier currencies. The Pound continues to be supported by every little positive Brexit headline but remains susceptible to the downside if none of this positivity materialises. Both US and European equity futures advanced, whilst treasuries fell.

Today's events

Eurozone Final Manufacturing PMI: 9.00am
UK Final Manufacturing PMI: 9.30am
US Core PCE Price Index: 1.30pm
US Personal Spending: 1.30pm
US Weekly Jobless Claims: 1.30pm
Canada Manufacturing PMI: 2.30pm
US ISM Manufacturing PMI: 3.00pm

Interbank rates:

GBP/USD: 1.2930
GBP/EUR: 1.1010
EUR/USD: 1.1740
USD/CAD: 1.3295