Bullet Report: Even Hillary would not Delete The Bullet Report Email today.

Today’s market event is undoubtedly the US elections. Despite Hilary Clinton being cleared of any wrong doing in regards to the latest email accusations, Donald Trump still has a 34% chance of becoming President. If that is the case, global stock markets are expected to react with a selloff, as fears over US trade relations will heighten. If Clinton wins, we should expect the status quo to continue and as such, a calmer market reaction. The market is clearly pricing in a Clinton victory, as global stock indices rallied, along with risk currencies like the AUD and NZD.

Currencies: After yesterday’s rally, the US Dollar steadied today in anticipation of tonight’s results. The rally in the USD was ignited after the FBI said that it did not find anything to warrant criminal charges against Clinton. This prompted a rally for the US, helping it gain the most in one week. The euro was also steady against the USD at $1.1040, well shy of its Friday peak of $1.1143, which was its highest since Oct. 11. If Trump wins tonight, EURUSD could reach 1.13 – 1.14 within a weeks’ time while USDJPY could drop to 100.

Stocks: Stocks took a breather yesterday, and rallied the most since March after FBI cleared Clinton, stopping the negative steak of 9 consecutive losses which was the longest since 35 years. Dow Jones gained 371.32 pts, or 2.08%, to close at 18259.60. S&P 500 rose 46.34 pts, or 2.22%, to close at 2131.52. DAX closed 1.93% higher while in today’s session Asian bourses were slightly mixed.

Oil and Gold: Gold price dropped yesterday after the USD strengthened. The price of the yellow metal dropped from $1304 on Friday to $1278 lows yesterday, before bounding to $1284 at time of writing. It is expected that GOLD will be volatile ahead and during the elections tonight. Regarding oil, after gaining 1.9% yesterday, WTI is trading at $44.82, virtually unchanged from last night.

The post Bullet Report: Even Hillary would not Delete The Bullet Report Email today. appeared first on Forex.Info.

Source:: Bullet Report: Even Hillary would not Delete The Bullet Report Email today.

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