Republican clean sweep makes it significantly easier to implement full policy agenda, ABN AMRO’s economists note. Parity for EUR/USD can be on the cards “Risks very firmly tilted to the downside for US and global economic growth and to the upside for US inflation. While Fed policy could be tighter than our current base line,
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The Pound Sterling plunges against the US Dollar as Trump wins the US presidential elections. Trump’s victory could significantly dent the UK’s economic growth. Investors see the Fed and the BoE cutting interest rates by 25 bps on Thursday. The Pound Sterling (GBP) plummets to near 1.2850 against the US Dollar (USD) in London trading
Markets remain strongly inclined to trade a Red Sweep. 10y USTs still around 15bps higher on the day and 5s30s curve bear steepening. Market pricing for the Fed’s terminal has risen by around 10bps to 3.73% for end-2025 (around 100bps of further easing including this week). The USD has continued to trade around 1.5% higher, TDS’
Former president Donald Trump has been elected as the new president of the United States, according to the Associated Press. Trump has secured more than 270 electoral votes after winning in key swing states such as Pennsylvania and Wisconsin. Trump’s victory favors the so-called Trump trades, with the US Dollar and Bitcoin soaring. Former US president Donald
EUR/USD is hit badly with Trump’s victory in the US presidential election. The Fed is expected to cut interest rates again on Thursday but by a lower size of 25 bps. The Euro underperforms across the board as concerns over Eurozone economic growth have deepened. EUR/USD slightly recovers to 1.0750 after nosediving to near 1.0700
Former president Donald Trump is elected as US president after securing more than 270 electoral votes. Trump won the election after a comfortable victory, securing most of the so-called swing states. Kamala Harris hasn’t conceded yet as she is set to speak on Wednesday morning US time. Here is a recap of what we know
The US Dollar (USD) traded higher, as vote count skews in favour of Trump at time of writing. DXY was last at 104.92, OCBC’ FX analysts Frances Cheung and Christopher Wong note. Trump outcome may see a play-up of US-China trade tensions “The 7 swings states of Georgia, North Carolina, Pennsylvania, Michigan, Wisconsin, Arizona and
USD/CHF holds onto intraday gains near 0.8750 on US Trump’s victory. Market participants are expected to face higher import tariffs in Trump’s administration. The Swiss Franc pair rallies after breaking above 38.2% Fibo retracement at 0.8700. The USD/CHF pair rallies to near 0.8750 in Wednesday’s European session. The Swiss Franc pair surges to a fresh
The Mexican Peso plunges several percentage points against its major pairs after Donald Trump secures 267 electoral votes, three away from victory. Trump’s threats of whacking huge tariffs on Mexican imports is wreaking havoc with the Peso. USD/MXN closes an open chart gap and extends its established uptrend within a rising channel. The Mexican Peso
The AUDUSD moved lower earlier this week, and in the process fell below its 100-day moving average at 0.66952. A corrective bounce higher on Tuesday saw sellers lean against that level. Going forward, that level is a key resistance target. The subsequent fall midweek took the price below its 200-day moving average at 0.6628. It
SPX weekly chart A strong gap higher at the open quickly turned into a day of disappointment for bulls. After surging nearly 50 points in early trading to hit 5860, sellers stepped in and methodically unwound those gains throughout the session. The late morning and early afternoon saw particularly steady selling pressure, though buyers did
Oil prices edged higher on Thursday, recouping some of the more than 1% losses from the previous session after U.S. crude inventories rose much more than estimated. Brent crude futures rose 44 cents, or 0.59% to $75.40 at 0003 GMT, while U.S. West Texas Intermediate crude futures climbed 45 cents, or 0.64%, to $71.22 as
Dollar emerged as the unequivocal winner in the currency markets last week. Both Dollar Index and 10-year US Treasury Yield surged through their respect technically significant 55 W EMA resistance. It remains to be seen whether traders are positioning ahead of the US presidential election results, which are less than two weeks away. However, the
A general view shows the skyline over the central business district in Beijing on Feb. 28, 2023. Jade Gao | Afp | Getty Images BEIJING — China’s parliament will hold a highly anticipated meeting Nov. 4 to 8, state media said Friday, according to a CNBC translation. Investors have been awaiting news of the gathering
Signage shines through a window reflecting Barclays head office in Canary Wharf, London, U.K. Bloomberg | Getty Images LONDON — British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations. The result compared with the £1.17 billion net profit forecast in an LSEG poll of analysts and
US Dollar holds its ground at the end of the week, remains in consolidation mode. Fed officials remain cautious on inflation, as Durable Goods Orders miss market expectations. Markets continue to see two cuts by year-end. The US economy remains robust with GDPNow tracking third-quarter growth at 3.4%. The strong economic outlook might push the
The EURUSD moved higher in the early US session and tested its 200-hour moving average currently at 1.08342. Although the price ticked above the MA line on a few hourly bars, the momentum stalled. The buyers turned to sellers, and the price has moved back to the 100-hour MA (blue line) at the 1.08056. The
Markets: Gold up $8 to $2743 US 10-year yields up 3.6 bps to 4.23% WTI crude oil up $1.43 to $71.63 S&P 500 flat USD leads, NZD lags The mood steadily soured throughout US trade and NZD and AUD finished at the lows. The S&P 500 rose as much as 50 points but gave it
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