The US Presidential Election: A Market Overview
The world is watching as the US presidential election unfolds, with early exit polls indicating a strong possibility of Donald Trump securing a second term in office. The impact of this potential outcome is reverberating through the financial markets, with the Trump trade optimism making a comeback and influencing the movement of the US Dollar (USD) and global stocks. While the results are not finalized yet, the current trends are worth noting.
Key Updates from the Exit Polls:
- Wisconsin: Trump is leading with 56% of the votes to 42.5%, with 7.5% of the expected votes counted.
- North Carolina: A close race with Trump showing a minor lead, with 50% of votes counted.
- Michigan: Harris’ lead has retraced from 61% to 53% with 12% of votes counted.
- Nebraska District 2: Harris leads with 61% to Trump’s 38%, with 46% of votes counted.
- Georgia: Trump secures about 53% of the votes against Kamala Harris, with 70% of the expected votes counted.
- Pennsylvania: Harris leads with 58% vs. Trump’s 41%, with 22% of the expected votes counted.
Additionally, several states have been called for either candidate, with Trump leading in Alabama, Arkansas, Florida, Indiana, Kentucky, Missouri, Oklahoma, North Dakota, South Dakota, South Carolina, Tennessee, Texas, West Virginia, and Wyoming, while Harris is projected to win Delaware, Maryland, Massachusetts, Vermont, and the District of Columbia. The current electoral vote tally stands at 154 for Trump and 30 for Harris.
Market Reaction:
As the election results start to trickle in, the market is responding to the unfolding political landscape. The US Dollar Index is trading at weekly highs near 104.60, reflecting a 1.17% increase on the day following the exit polls from Wisconsin and Michigan.
Stay tuned for live coverage of the market reaction to the US presidential election as more results come in.