Losers in FX Markets After the US Presidential Election: USD & Gold
US Elections’ FX Market Impression: Losers
- Each the DXY Index and gold prices have exhibited weak point within the wake of the US presidential election outcomes.
- The US political and vaccine development information over the previous few weeks have been extraordinarily bearish for protected haven property, a class wherein each gold and the US Greenback discover themselves.
- The IG Client Sentiment Indexis bearish in the direction of each gold and the US Greenback (vis-à-vis EUR/USD, GBP/USD, and USD/JPY positioning).
Biden Win Adjustments Tone of Gridlock
Democrat Joe Biden has won the US presidency.The composition of Congress could also be extra essential for monetary markets, nevertheless. A divided Congress, wherein Republicans management the Senate and Democrats management the Home, seemingly signifies that essentially the most aggressive stimulus eventualities are off the desk within the near-term.
Coupled with information that coronavirus vaccine improvement is quickly shifting in the direction of widescale distribution, monetary markets are discovering themselves in fairly the…