The number of new coronavirus cases in the UK has increased to 17,540 which has kept the Pound from making any significant gains. EU Chief negotiator Barnier has reportedly been told to stick to his mandate with regards to fishing access which has created some nervousness in the market. Barnier has also said that he does not think a deal will be ready by the EU summit on the 15th October. UK GDP, manufacturing and industrial production data all disappointed the market this morning although this seems to have had little effect on the Pound.

Italy has seen an increase of 4458 new coronavirus cases yesterday which has caused concern in the market regarding the wider economic impacts of a second wave in Europe. The ECB believes that their PEPP program will be used in full whilst an interest rate cut could be introduced if need be.

US unemployment claims released yesterday afternoon came out worse than expected at 840K compared to the forecasted figure of 820K which led to Dollar weakness. Speaker of the House of Representatives Pelosi has said that both the Democrats and Republicans have been working hard to come up with a fiscal aid package with negotiations still ongoing.