Election 2020, Markets: Traders Look for Election Reset After Biden Win


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Photographer: Sascha Kilmer / Moment RF

After a week in which the markets barely had time to breathe as Joe Biden won for the US presidential election, traders returned rights with the euro and Australian dollar climbing back to greenback vs. currencies Has started taking.

The Democratic Challenger’s victory over President Donald Trump was announced over the weekend by media networks and the broader ruling that a Biden administration would be a positive for risky assets. This is in part because more predictive policies can help global trade. And while a divided Congress likely places limits on the amount of economic stimulus that will be implemented, some form of the package is also on investors’ radar.

Nigel Green, a Zurich-based chief executive and founder of the financial-advisory firm Devière Group, said Biden may struggle to get $ 3 trillion by Democrats, but some packages are likely. He said, “This will lead to a bounce in the markets and investors will have to think about a macroeconomic recovery.” As the world’s largest economy, sustainable, long-term growth in the US will have a positive impact for the world economy. “

The euro and Australian dollar have gained over the past week, a greenback in the opening round of the Asia-Pacific trade, although the scale of moves was relatively muted as Biden reached the verge of victory before New York trading ended on Friday Were. The yen, often seen as a haven, was marginally weaker against the US currency in early trade.

Over the weekend, Biden called on Americans to separate their divisions. The victory speech that promised swift action against the coronovirus epidemic after the election and a gradual transfer of power. Nevertheless, the 46th President will not take office until 20 January and since then there is a possibility of dissolution. Trump has vowed to challenge the election result in several states, without any evidence alleging that the vote was a widespread fraud.

Runs in major currencies:
  • The euro rose 2% to $ 1.1885 last week.
  • The Australian dollar rose 0.2% to 0.7274, up 3.3% from the previous week.
  • The yen was down nearly 1.3% in the last five days to 103.39 per dollar, down 0.1%

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