The Dow Jones reached a new record high after Trump looks set to beat Harris into the White House. A decisive election result is tipping stocks into a frenzy on hopes for deregulation. The Dow Jones is up 3.6% for the week with banking stocks charging to the top. The Dow Jones Industrial Average (DJIA)
The EURUSD moved higher before the results of the election started to trickle in. The price moved up to test the 100-day MA and the 38.2% of the move down from the September high. The price moved lower as results came in, first breaking below the 200-day MA at 1.08687 and then the 100-bar MA
Mitch McConnell was asked about Trump tax cuts and said “I’m sure virtually all of us would like to see most of that extended”. McConnell also called for increasing defense spending. It all adds up to some big deficits. It’s not clear who will be the new Senate majority leader but three names that have
Following his win in Pennsylvania and earlier victories in other key battleground states in Georgia and North Carolina, Republican candidate Donald Trump took to the stage shortly after in Palm Beach, Florida. Trump is set to become the 47th President of the United States (US) as he took an early victory lap on stage and
Pres. Trump blazed through the Presidential election and a new era begins. With control of the Senate and the House still up but leaning to the GOP too, the door is wide open for the administration for deregulation, smaller government, lower taxes. The theme is to grow the economy through the private sector with fingers
Bitcoin price today:$73,200 Bitcoin soars to a new all-time high of $75,407 on Wednesday as Trump wins the US presidential election. The technical outlook suggests that BTC’s next target could be the 141.40% Fibonacci extension level above $78,000. Reports show the so-called Trump trade – long positions in the US Dollar, crypto, and higher Treasury
Construction PMI 54.3 vs 55.5 expected and 57.2 prior. Key findings: Civil engineering remains best-performing category, followed by commercial work. Renewed decline in house building. Business optimism slips to ten-month low. Comment: Tim Moore, Economics Director at S&P Global Market Intelligence, said: “The construction sector signalled another month of solid output growth in October, despite
The GBPUSD has moved down to test the 50% and a swing area between 1.2844 and 1.28719. The midpoint level is at 1.2866. The low price reached 1.2864 and is bouncing modestly. The bounce will target the low from two weeks ago at 1.29064. Staying below keeps the seller in control On the downside, the
Gold price ticks lower on Wednesday as the USD surges to a four-month high. The Trump trade is back in play following the initial US election exit poll results. Expectations for a spike in volatility lend support to the safe-haven XAU/USD. Gold price (XAU/USD) continues with its struggle to break through the $2,748-2,750 hurdle and
Preliminary results of Pennsylvania exit poll from Edison Research: Trump wins 43% of women voters, Harris wins 55%; Trump share down 1 pt from 2020 Trump wins 50% of white women voters, Harris wins 48%; Trump share down 2 pts from 2020 Trump wins 58% of white male voters, Harris wins 40%; Trump share down
The EURUSD is continuing its move to the upside despite stronger services ISM nonmanufacturing data today. Employment moved higher as well. New orders were lower and prices paid was lower as well. Of course the election voting is ongoing with the results still hours aways starting with Georgia, one of the epicenters from 2020 election
AUD/USD climbs as RBA Governor Michelle Bullock emphasizes the need to maintain a restrictive rate stance. US presidential election remains the main driver for AUD/USD ahead of Trump-Harris debate. Trump’s victory expected to be unfavorable for AUD due to his promise to raise tariffs on China. In Tuesday’s session, the AUD/USD rose 0.77% to 0.6638
I spoke with Reuters today about the Canadian dollar. It’s surprisingly stronger given that Trump trades are working. “We could just be seeing some position squaring. The Canadian dollar has been a heavily shorted currency,” said Adam Button, chief currency analyst at ForexLive. “The Canadian dollar is one of the clear election night trades along
Jambo, a leading builder of web3 mobile infrastructure, today announced its partnership with Lif3, the revolutionary omni-chain DeFi Layer-1 ecosystem, to offer millions of Jambo phone users in over 120 countries, with easier access to peer-to-peer crypto payments through the Lif3 mobile app. Founded by serial entrepreneur and web3 investor Harry Yeh, Lif3’s strategic collaboration
Hundreds of millions of Americans head to the ballots today to vote for who they believe should be their next President: Kamala Harris or Donald Trump. Although more than 81 million ballots have been cast early this year, most of the electorate will do so today, ultimately determining who will reside in the White House
EUR/USD rises to near 1.0900 as the US presidential elections kicks-off, which will influence market sentiment. Investors expect a neck-to-neck competition between Kamala Harris and Donald Trump. The ECB is expected to cut interest rates by 25 bps in the December meeting. EUR/USD gains to near 1.0890 in Tuesday’s New York session. The major currency pair remains shy of
Fundamental Overview The US Dollar started the week on the backfoot as the odds of a Harris victory jumped higher leading to a pullback in the Trump’s trades. Everything hinges on the US election now with a red sweep seen as the most bullish scenario for the greenback, while a blue sweep as the most
The U.S. presidential election draws near, and investors are on high alert as the outcomes of Kamala Harris’s and Donald Trump’s contrasting economic policies could have significant ramifications for the financial markets. With key decisions looming around tax rates, regulation, energy policy, and trade, the potential for market volatility increases depending on who gets into
UA Zensen is Japan’s largest industrial trade union and represents workers mostly at small and medium-sized firms. And once again – similar to earlier this year – they are calling for at least a standard 6% increase in total wages going into the spring wage negotiations in 2025. For some context, the wage hike asked
Gold price slides to a one-week low amid some repositioning trades ahead of the US election. Fed rate cut bets, falling US bond yields and subdued USD demand could lend some support. Middle East tensions might further contribute to limiting losses for the safe-haven XAU/USD. Gold price (XAU/USD) attracts fresh sellers during the Asian session
British Retail Consortium (BRC) total sales in October +0.6% y/y, weakest growth since July prior (September) +2.0% like-for-like sales +0.3% y/y (prior +1.7%) Barclaycard UK October consumer spending +0.7% y/y, also the weakest growth since July prior +1.2% prior +2.0% From the reports, in brief: Factors like budget uncertainty, delayed purchases until Black Friday, and
The RBA will be announcing its rate decision later tonight/tomorrow in Australia. The expectation is for no change in policy. Focus will be on what is ahead for the central bank Technically, the price high reached 0.66184 in the early Asian session. That took the price to the low of a swing area between 0.66189
AUD/USD surges higher in light of hawkish RBA and uncertainty over US election. US Dollar weakens on speculation of Kamala Harris victory and Fed’s dovish rate cut bets. US Nonfarm Payrolls disappointed, missing estimates and casting doubt on Fed’s aggressive rate cut path. The AUD/USD surged higher on Monday, rising by 0.70% to 0.6600 amid
Legend of Arcadia (LoA), a new card-based RPG set in an expansive universe inspired by Kingdom Hearts, is bringing a community-driven operational model to Web3 gaming. With a focus on sustainable growth, LoA aims to establish itself as a leading platform by integrating blockchain technology, unique NFT mechanics, and community-centric features that foster long-term player
Harris from her Montreal highschool yearbook The world of foreign exchange is multi-variate so you never get a full grasp on what’s moving a currency on any given day. Economics always overshadows politics and the US election has been playing out in the background for months. There are certainly election trades in equities and other
The USDCAD broke higher at the end of last week and in the process extended above high from August at 1.39458. The high price reached 1.3958 and closed the week at 1.39484. However, after the weekend election poll news, yields moved lower, the USD moved lower and the USDCAD gapped down as well. That took
All eyes will be on the United States on Tuesday, 5 November 2024, as the world awaits the outcome of the contest between Kamala Harris and Donald Trump. With the countdown clock to the 2024 US elections beginning to tick down towards polling day, markets are starting to brace themselves for what is yet to
The influential Selzer poll out of Iowa showed a Harris lead over the weekend. That is not supposed to happen, and led to the USD moviing lower on the news. The US yields are lower. The US stocks are trading mixed (Dow modestly lower, S&P and Nasdaq modestly higher). European stocks are mostly higher. 10
Gold is up a quarter of a percent at the start of the week as the US Dollar slides lower. Gold, which is priced predominantly in USD, gets a lift from the Trump trade unwinding The US presidential election is too close to call, hedge funds are still long Gold and Iran saber-rattling boosts haven
With its recent launch, Xlence is quickly positioning itself as a promising option in the online trading world. This new platform emphasizes transparency, education, and accessibility, aiming to make trading a simpler and more empowering experience for users. In a recent announcement, Xlence laid out its mission to provide traders with a supportive and versatile
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