23.10.2020: Debates support USD (DJIA, USDX, USD/CAD, BTC/USD)

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Wall Street is trading with gains today. The US dollar perked up in light of the debates which suggested the lead of Joe Biden. The Canadian dollar is extending weakness. Bitcoin is following the uptrend.
Futures on the US benchmark stock indexes are trading higher amid the mounting hopes that the long-awaited stimulus bill will be eventually settled.
Futures on the Dow Jones rose 0.33%. Futures on the Nasdaq grew 0.34% while futures on the S&P 500 posted a similar gain of 0.36%.
Yesterday House Speaker Nancy Pelosi reported on notable progress in the talks between Republicans and Democrats on the financial aid package. So, the bill is due to pass in the nearest future.
Investors are mulling over the final debates amid the presidential race in the US. Incumbent President Donald Trump and Democratic nominee Joe Biden again pinpointed their opposite approaches to solving the same questions. Nevertheless, investors did not find out any new alarming information. The election is scheduled for November 3. Besides, the primaries have been already underway in several states.
The US dollar edged up in the European trade on Friday, the next day after the debates between Donald Trump and Joe Biden. The US dollar index showed a 0.1% uptick to trade at 93,082. So, the greenback recovered from seven-week lows reached earlier in the week.
The USD/CAD pair is trading at 1.3135 following the uptrend. The currency pair has again tested resistance and formed a few reversal patterns. This could push the price down back to 1.3040.
Bitcoin is developing a moderate rally, though at a slower pace. Yesterday, it surged to the level of 13,000 dollars per token. Analysts foresee a further climb tomorrow. A downward correction is likely to follow next.
According to CoinMarketCap, which computes an average price based on data from over 20 exchange floors, bitcoin jumped 1.82% in Friday to 12,989 dollars per token. The number one cryptocurrency climbed 1.37% to trade at 12,938 dollars on Binance, the largest crypto exchange. Bitcoin accounts for almost 60.9% of the total trade volume worldwide.
The final debates amid the presidential race were held overnight. Joe Biden met the challenge and avoided any strategic mistakes anticipated by Donald Trump. Remarks by Donald Trump could win over some voters. For example, Joe Biden expanded on alternative energy. Texas will hardly approve the Democratic nominee on this question. So, Trump will be supported by 38% of Texas voters which is a high score. The latest poll conducted by Trafalgar Group reveals that Donald Trump is taking the lead in Michigan with 46.7% versus 44.9% for Biden. Not long ago, this state was poised to support Joe Biden. Taking into account other states, Trump has a good chance for a victory in the upcoming presidential election.

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