Market Update

The US dollar gained and risk-sensitive currencies weakened on Wednesday, November 4th, as early results from the US presidential election show a tight convergence in the race. US President Donald Trump is ahead in states including Florida and Ohio, as investors await whether he can retain the states of Michigan, …

Former Vice-President Joe Biden has won Arizona. He is leading against President Donald Trump by a large margin in the southwestern state. Joe Biden is losing ground in battleground Florida, which is now called for President Donald Trump. In Arizona’s Senate race, Democrat Mark Kelly won against Republican incumbent Marhta …

The New York Stock Exchange (NYSE) closed Tuesday higher on hopes for a new stimulus package following today’s elections. The Dow Jones Industrial Average added 514.92 points, or 1.9%, to close at 27,439.97 points. The S&P 500 gained 58.11 points, or 1.8%, and finished at 3,368.35 points. The Nasdaq Composite …

Oil prices rose on Tuesday to their highest level in a week on election day, on the hopes for a new stimulus package following the US elections and commitment from the OPEC+ to maintain output curbs. Brent crude futures for January delivery gained 74 cents, or 1.9%, to close at …

Gold prices finished at their highest level in a week, as the US dollar (USD) declined on election day in the United States. Gold futures for December delivery finished higher by $17.90, or 1%, at $1,910.40 per ounce, its highest level since October 27. Meanwhile, silver futures for December delivery …

New factory orders in the United States increased by 1.1% in September, data by the US Department of Commerce showed on Tuesday. This comes after factory orders rose by 0.6% in August.

The Euro (EUR) rose against the US Dollar (USD) to its highest level in five days during Tuesday’s trading session, as the USD is declining across the board on election day. The EUR/USD is trading higher for the day by 0.72% at 1.1725. The pair has been moving today in …

The British Pound (GBP) rose against the US Dollar (USD), as the later declined on election day, to its highest level in a week. The GBP/USD is trading higher by 1.05% at 1.3053. The pair has been moving today in a range between 1.2911 and 1.3079, after closing yesterday at …

The US Dollar (USD) is declining across the board on elections day, with markets awaiting the results of the presidential and congressional elections. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, is down for the day by 0.76% at a daily …

Major stock indices on Wall Street rose at the open Tuesday, as investors bet on Democratic candidate Joe Biden’s victory in one of the most sensitive US presidential elections in American history. The Dow Jones Industrial Average rose 213.64 points, equivalent to 0.79%, to 27138.69 points, and the S&P 500 …