EUR/USD remains bid as President Trump and Biden spar over economy

• EUR/USD clocks six-day highs near 1.1750 as S&P 500 futures rise. 
• Stock futures draw bids on better-than-expected China PMI data. 
• President Trump warned of delay in elction outcome during the Presidential debate. 

EUR/USD is extending Tuesday’s gain with the futures tied to S&P 500 reporting gains amid the first US presidential debate involving President and Republican Party candidate Donald Trump and his rival from the Democratic Party Joe Biden. 

The currency pair is currently trading at six-day highs near 1.1750, having risen by 0.67% on Tuesday. That was the biggest single-day percentage gain since Aug. 28. 

Meanwhile, the S&P 500 futures are up 0.30% and weighing over the safe-haven dollar. The stock futures seem to have picked up a bid in response to the better-than-expected China Manufacturing PMI released early Wednesday. 

President Trump and Democrat candidate Biden sparred over the economy, law enforcement, climate change, and election integrity during the first Presidential debate. 

While Trump said that the US is witnessing a V-shaped recovery from the coronavirus crash, Biden talked about the uneven recovery, increasing the gap between the rich and the poor. 

Trump added that the election outcome might take months to come. According to Goldman Sachs, the S&P 500 options market is pricing increased post-election volatility. 

Technical levels