The US election has been the fundamental event controlling sentiment the past few weeks and the day of results has finally arrived. A Clinton victory will see a large amount of US dollar strength with the markets most likely to move including Gold, Mexican Peso, and Stock Markets. Since the FBI’s decision not to prosecute Clinton ove
The US election has been the fundamental event controlling sentiment the past few weeks and the day of results has finally arrived. A Clinton victory will see a large amount of US dollar strength with the markets most likely to move including Gold, Mexican Peso, and Stock Markets. Since the FBI’s decision not to prosecute Clinton over her private email server the market has continued to price in her victory. Last night Gold fell -0.48% on USD strength as the three main US stock markets rose. Early exit polls, encouraging a Clinton victory encouraged risk currencies to rise with the New Zealand Dollar leading the charge as the largest gainer. Safe haven currencies were the largest loser as CHF and JPY fell.
Whilst todays outcome is likely to generate large swings traders should be focussed on how the result will change the macro outlook both economically and from a policy perspective as focus will soon turn back to the Fed in December.
The Australian Dollar opened up 1.1% vs JPY as risk on pushed above 0.77500 with a Clinton victory target above 83.00 whilst a Trump victory could see August range low of 76.00 tested.
r her private email server the market has continued to price in her victory. Last night Gold fell -0.48% on USD strength as the three main US stock markets rose. Early exit polls, encouraging a Clinton victory encouraged risk currencies to rise with the New Zealand Dollar leading the charge as the largest gainer. Safe haven currencies were the largest loser as CHF and JPY fell.
Whilst todays outcome is likely to generate large swings traders should be focussed on how the result will change the macro outlook both economically and from a policy perspective as focus will soon turn back to the Fed in December.
The Australian Dollar opened up 1.1% vs JPY as risk on pushed above 0.77500 with a Clinton victory target above 83.00 whilst a Trump victory could see August range low of 76.00 tested.
