The US economic recovery after the lock-down months looks a lot better than in Europe. While the recovery has slowed considerably in Europe and some areas are experiencing contraction again, like services or the ZEW economic sentiment that we saw earlier today.

In the US, the economic recovery is keeping up the pace, as earnings show in this report, although CPI inflation has cooled off a bit. This points to the USD turning bullish once the elections are over and both sides have accepted the winner.

US September CPI and Earnings Reports