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Dust settles as markets envision Trump presidency

Posted on: November 10, 2016

In quite the reversal from overnight lows, equity markets, crude and most other risky assets managed to rebound as participants recovered from the initial shock of the Trump victory and started to focus on what that means economically. USDCAD came off the highs to test into the 1.33s, and this morning it looks like we are gearing up for another test of 1.3500.

Yesterday the RBNZ cut rates, suggesting a low rate environment could persist for some time which has the AUD performing well. This morning US jobless claims came in better than expected. The probability of a December rate hike is back up to 88%, with the probabilities for a couple of hikes in 2017 increasing as well.

Happy trading!

  • Yesterday’s NA Range 1.3367 – 1.3477
  • Asia Overnight Range 1.3390 – 1.3425
  • London Overnight Range 1.3387 – 1.3498

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