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Market Update – November 8 – US Midterms Election Day

Market Update – November 8 – US Midterms Election Day

  • The USD Index You can test it further by slipping. 110.00 yesterday, a -2.65% decline from Thursday’s high at 113.00, Trades at 110.25 Today. Stocks One person rallied another +1.00%, Yields Moved higher again (10-years). 4.163%) And the Commodity Complex Assembled Fridays rally as a cooled Beijing It reiterated its strict pandemic rules.  Overnight, Crypto Complex It has plummeted with BTCUSD Reduced from $21k Under $19.5k. 

Markets are pricing in a “lame-duck” President Biden For the last two years of his presidency, Republicans will likely take control of the House of Representatives. This would likely result in spending cuts, curbs on the debt limit, and support for energy companies. Inflation is a major problem for households and businesses. The loss of control of the Senate by President Biden would also severely restrict his political activities regarding immigration, Ukraine and other environmental policies. TRUMP “Big announcement” November 15.

  • EUR – continued to rally yesterday and breached the hugely psychological parity  1.0000 level. 
  • JPY – dipped to 146.10 Lows starting at 147.50 And remains capped at 147.00 today. 
  • GBP – Sterling rose by more than 200 points yesterday. 1.1300 Increase to 1.1540, But has since fallen below 1.1500. 
  • Stocks – Wall Street…

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