US election aftermath
|Important news for the day
US election aftermath
Directly at the start of the day the Dollar geared up steam as seemingly certainty returns back to markets. Without major interruptions the US have voted and it looks like the electoral college will be in favour of Donald Trump as the new President of the US. Since the dust is settling now also stock markets moved to higher levels. The S&P 500 created a new high and the volatility index VIX is now trading at the 16 level, indicating potential further upside in equities. Crypto markets seemingly also suggest upside momentum might continue as Trump has previously stated that he would favor digital tokens as well.
Market talk
The market news might soon shift towards the upcoming interest rate decisions in the UK and US. Tomorrow the Bank of England is set to reduce interest rates, whereby the GBPUSD currency pair is losing steam today. Any deviation might favour the Pound again. Oil markets have also started to weaken based on the daily chart. The stronger Dollar might support downside momentum here as also the long- term trend remains rather bearish. The tech- heavy Nasdaq looks also set to push to higher levels as the triangle formation will suggest further upside momentum.
Tendencies in the markets
-
Equities positive, USD weaker (after the strength), cryptos positive, oil weaker, metals weaker, JPY weak.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.