Trump or Harris? Markets Awaits Outcome

Trump or Harris? Markets Awaits Outcome

This week, the U.S. presidential election will command everyone's attention.

Market watchers will be focused on a handful of pivotal swing states, including Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin. Pennsylvania is potentially the most critical.

Yet, the results may not be immediate. In 2020, for instance, the Associated Press declared Biden the official winner about three and a half days after polls closed.

This time around, a win by Trump could strengthen the dollar, driven by the possibility of heightened tariffs that may also weigh on currencies closely linked to China, such as the Australian dollar. With daily MACD in negative territory, AUD/USD appears on track to test the next support at 0.6490, aligned with a trend line since October 2023

In contrast, Newsquawk suggests that a Harris victory could pressure the dollar, with potential gains in commodities and the euro.