Dollar, bonds, crypto and Wall Street futures rise due to foreseeable Trump victory
The dollar, the profitability of the US debt, cryptocurrencies and Wall Street futures rose strongly this Wednesday in the face of the foreseeable victory of Donald Trump in the US presidential elections. Since this morning, in which they have been known the first results of the elections, the market has reacted positively, and the futures on the main Wall Street indicators anticipate gains of more than 1%. Thus, Dow Jones futures advance 1.69%; those of the S&P 500, 1.6%; and those of the Nasdaq, 1.55%.
For its part, the dollar registers its largest intraday increase since March 2020, rising more than 2% against the euro (the euro/dollar is trading at $1.0711). Ebury analysts explain that the dollar is trading higher against almost all currencies in the world, and that markets are not only positioning themselves for a comfortable Trump victory in the electoral colleges, but also for the prospect of a Congress controlled by Republicans, “which is key to determining the incoming president’s ability to force policy changes in the United States government.” They add that they are seeing massive selling of emerging market currencies, “as investors discount the rise in US tariffs, elevated geopolitical risks and greater global uncertainty under the Trump presidency.”
Another asset that positively welcomes Trump’s possible victory is Bitcoin, the most used and well-known cryptocurrency on the market, which skyrockets more than 8% and marks new all-time highs above $75,000.
With information from EFE
