US Open – The great disappointment

Everyone loses

It is often the case that the more hotly anticipated an event is, the more of a disappointment it actually turns out to be; and that could not be more true of last night’s Presidential debate.

Those that wanted a policy-light sparring match got exactly what they wanted. Amidst all the interuptions, it’s a wonder either candidate managed to say anything of substance at all. Some may argue they didn’t.

These events are often overplayed for their importance and that’s particularly true in an election year when the undecided vote is so small. It’s hard to pick a winner, I think we’re all losers as far as that debate is concerned, but Biden went into the debate clearly ahead in the polls and I’d be amazed if last night changed anything. I guess he technically wins by default.

At least now we can all switch our attention to something more important that could be more of a feature in the coming debates, including that of the vice Presidential nominees, two potential future leaders of the free world.

The jobs report on Friday will be very interesting, particularly against the backdrop of an exhaustive battle in Congress over the next installment of critical economic aid.


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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.