The results of the U.S. election are gradually being released, and the market is closely following with fluctuations
1. According to the Associated Press forecast, Republican presidential candidate Trump won Alabama, Mississippi, South Carolina, Oklahoma, Florida and Tennessee with a total of 95 electoral votes. Democratic candidate Harris won Massachusetts, Connecticut, Maryland, Rhode Island and Washington D.C., totaling 35 electoral votes.
2. According to Edison Research: In the key state of Georgia where an estimated 32.3% of the vote has been counted so far; results show former U.S President Trump received 55.6% support while Vice President Harris received 43.9%.
3. Media predicts that West Virginia Governor Jim Justice has won the senatorial race in his state securing a crucial seat for Republicans.
Market Impact:
1.Trump Media Technology Group (DJT.O) shares surged by as much as 30% after hours on US stock markets while Tesla (TSLA.O) also rose more than 4%.
2.Spot gold briefly fell $7 to $2735.58 per ounce; The dollar index DXY broke above 104 causing non-US currencies to generally fall; USD/JPY broke above152; Yield on US Treasury bonds due in thirty years increased by ten basis points.
3.The FTSE China A50 futures opened down by .6%. Futures for all three major US stock indices were up.
Market Analysis:
1.Forexlive analyst Adam Button stated that exit polls are favorable for Trump who is making a comeback.
2.Kumiko Ishikawa from Sony Financial Group suggested that speculation about the outcome of the U.S Presidential election could cause significant fluctuations in USD/JPY on Wednesday.
3.ANZ Bank: Trump's policies are neutral to slightly bullish for oil market.
(Continuously updating...)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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