|

Breaking: US Election 2024: Exit polls show a slim Trump's advantage

A historical United States presidential election is about to come to an end. Polling locations have begun closing, and initial exit polls will start hitting the wires, and triggering sharp reactions across financial boards one way or the other. It is worth remembering, however, nothing will be set and done, as some states may take a couple of days to offer final results. 

Whether former President Donald Trump or current Vice-President Kamala Harris will become the next US President will likely depend on what happens in the seven swing states. 

Georgia is among the first of those with available exit polls, showing that the scale leans toward Trump's side. The state, which holds 16 electoral votes, shows Trump received roughly 10% more votes than Harris, with less than 1% votes counted, according to the Washington Post. The advantage seems slimmer according to other researchers, but Trump also leads.

Follow our live coverage of the market reaction to the US presidential election as counting results start hitting the wires.

Market reaction

The US Dollar is up as an immediate reaction to the news. The US Dollar Index changed course and currently hovers around 103.60 after bottoming at  103.34 on Tuesday.

Author

More from FXStreet Team
Share:

Editor's Picks

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans. 

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.