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Markets tumble as Trump is elected President of the US

Posted on: November 09, 2016

Wow. If you were complaining about a lack of volatility in the markets, be careful what you wish for! Donald Trump surprised the pollsters, winning the Electoral College and becoming the US President Elect. The markets reaction was knee-jerk negative, with Dow futures initially dropping 800 points, more than it fell on 9/11. MXN and CAD sold off against the USD, while JPY was bid up in a flight to safety. USDCAD touched 1.3500 before settling in to the 1.34s.

The market has had a chance to sober up, with equities trimming losses and the likelihood of a second rate hike in the US increased. With such limited information released about his policies, the market is still largely in the dark about what this means long term. This morning we will be hearing from Hillary Clinton and Paul Ryan, so expect the choppiness to continue.

  • Yesterday’s NA Range 1.3286 – 1.3382
  • Asia Overnight Range 1.3265 – 1.3525
  • London Overnight Range 1.3366 – 1.3468


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