# GBP/USD: US elections, coronavirus and two rate decisions promise an explosive week — Octa

> GBP/USD has weakened on Covid-19 concerns and US election uncertainty. The coming week carries several major events: the Bank of England's rate decision, the Federal Reserve decision, and US October nonfarm payrolls.

- Date: 2020-10-30 · published 2020-10-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/50873-gbp-usd-us-elections-coronavirus-and-two-rate-decisions-promise-an-explosive
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stalemate in the US election could lift the safe-haven dollar, and a weak BoE outcome could push sterling lower. Both affect the dollar's value against currencies used in grain and oilseed import pricing, which can shift export competitiveness.

## Read by commodity

- DXY: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-29 | [Market trades with caution ahead of US Fed rate decision this week](https://feedsoft.ai/events/31036-market-trades-with-caution-ahead-of-us-fed-rate-decision-this-week.md) | -0.7% | -1.1% |
| DXY | 2017-01-31 | [Potential US Dollar Reactions to FOMC Decision](https://feedsoft.ai/events/73151-potential-us-dollar-reactions-to-fomc-decision.md) | -0.6% | -0.6% |
| DXY | 2020-05-19 | [USD/JPY: Bulls in control again, correction recent pressures — Octa](https://feedsoft.ai/events/53375-usd-jpy-bulls-in-control-again-correction-recent-pressures-octa.md) | -1.1% | -2.6% |
| DXY | 2020-10-30 | [Crude futures rise on ECB stimulus expectations, robust US economic data \| S&P Global](https://feedsoft.ai/events/50820-crude-futures-rise-on-ecb-stimulus-expectations-robust-us-economic-data-s-and-p.md) | -1.6% | -3.0% |
| DXY | 2018-09-14 | [GBP/USD: Will A Deluge Of US Data Pull Dollar Lower vs. Pound? - Currency Live](https://feedsoft.ai/events/63287-gbp-usd-will-a-deluge-of-us-data-pull-dollar-lower-vs-pound-currency-live.md) | -0.4% | +0.4% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/860038/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.