We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/B4MVrg8f6i
  • The AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/Fo1wlWyz8r
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/4ofHIpGiTm
  • Trump says he needs to see a strong study on China's actions surrounding virus - BBG
  • The Dollar Index has broken below a multi-week consolidation / the May opening-range lows and keeps the focus lower heading into June. Get your $USD technical analysis from @MBForex here: https://t.co/hkm3nIoyeh https://t.co/SzMeNFyPyp
  • RT @fxmacro: COVIDView: A Weekly Surveillance Summary of U.S. COVID-19 Activity | CDC https://t.co/Gtr0sUoyft
  • RT @globaltimesnews: The #US, rather than #China, will pay a hefty price for imposing sanctions against #HK in the latest broadsides aimed…
  • Could this be the turning point for the #USD? My majors-based #Dollar index is testing key support from April with positive RSI divergence. If sentiment continues improving, that may offer the fundamental scope to continue lower towards March lows https://t.co/vIIvyF8zpU
  • The scale of the monthly chart can be particularly useful in spotting systemic developments. Gold for example reflects enormous lift of a haven during supposed 'risk on'. The candle chart is gold equally weighted in USD, EUR, GBP and JPY. Orange is $GC_F https://t.co/4yEjT7FvGA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.49% 🇨🇭CHF: 0.30% 🇪🇺EUR: 0.25% 🇳🇿NZD: -0.06% 🇨🇦CAD: -0.06% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OR9TIAZM1e
US Dollar Response Mixed as Trump Wins US Presidential Election

US Dollar Response Mixed as Trump Wins US Presidential Election

2016-11-09 08:05:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar gains on commodity FX, drops elsewhere as Trump wins Presidency
  • Japanese Yen set to post largest daily gain since Brexit vote amid risk aversion
  • Sentiment-linked assets likely to remain under heavy pressure in the near term

The financial markets are reeling as results from the US presidential election point to a victory for Republican nominee Donald Trump. The Associated Press is projecting that that Mr Trump has prevailed in Wisconsin, giving him the 270 electoral votes needed for a win. A separate report from NBC News has it that his rival Hillary Clinton has called him to concede the contest having refused to do so earlier even as the math looked increasingly insurmountable.

The anti-risk Japanese Yen is soaring against all of its major counterparts, poised to secure its biggest one-day gain since the June 24 rally inspired by the outcome of the Brexit referendum. The sentiment-linked Australian, Canadian and New Zealand Dollars are bearing the brunt of selling pressure as risk appetite crumbles market-wide. Stocks plunged in Asia and index futures point to continued blood-letting as European and US bourses come online.

The US Dollar has put in a mixed performance. Prices deferred to sentiment trends when compared against currencies at both ends of the risk on/off spectrum, with the greenback rising against commodity-bloc currencies and falling against the Yen. Relative policy bets appeared to be in focus elsewhere however. The US unit falling against the Euro and British Pound as the increasingly remote chance of a December Fed rate hike undermined its appeal given ECB and BOEstandstill.

Fallout from the election outcome will almost certainly overwhelm other considerations in the hours ahead. As noted previously, Ms Clinton represented the “status quo” candidate that represented continuity and predictability for investors, whereas Mr Trump is more an unknown quantity. This means investors will probably continue to trim risk exposure until the dust settles and portfolios can be soberly reallocated, suggesting overnight trends are poised to continue in the near term.

See the schedule of upcoming webinars and join us LIVE to follow the financial markets!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Card Spending Retail (MoM) (OCT)

0.6%

0.4%

1.9%

21:45

NZD

Card Spending Total (MoM) (OCT)

0.6%

-

2.0%

23:30

AUD

Westpac Consumer Conf Index (NOV)

101.3

-

102.4

23:30

AUD

Westpac Consumer Conf SA (MoM) (NOV)

-1.1%

-

1.1%

23:50

JPY

BoP Current Account Balance (SEP)

¥1821.0b

¥2020.0b

¥2000.8b

23:50

JPY

BoP Current Account Adjusted (SEP)

¥1477.3b

¥1630.0b

¥1975.7b

23:50

JPY

Trade Balance BoP Basis (SEP)

¥642.4b

¥668.8b

¥243.2b

23:50

JPY

Bank Lending Incl Trusts (YoY) (OCT)

2.4%

2.2%

2.2%

23:50

JPY

Bank Lending Ex-Trusts (YoY) (OCT)

2.4%

-

2.2%

1:30

CNY

CPI (YoY) (OCT)

2.1%

2.1%

1.9%

1:30

CNY

PPI (YoY) (OCT)

1.2%

0.9%

0.1%

4:30

JPY

Bankruptcies (YoY) (OCT)

-7.95%

-

-3.41%

5:00

JPY

Eco Watchers Survey Current (OCT)

46.2

44.4

44.8

5:00

JPY

Eco Watchers Survey Outlook (OCT)

49.0

47.8

48.5

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

9:30

GBP

Visible Trade Balance GBP/Mn (SEP)

-£11363

-£12112

Low

9:30

GBP

Trade Balance Non EU GBP/Mn (SEP)

-£3450

-£3756

Low

9:30

GBP

Trade Balance (SEP)

-£3950

-£4733

Low

10:00

EUR

European Commission Economic Forecasts

-

-

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.0918

1.0976

1.1001

1.1034

1.1059

1.1092

1.1150

GBP/USD

1.2235

1.2314

1.2347

1.2393

1.2426

1.2472

1.2551

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.