Forex news for Asia trading for Wednesday 4 November 2020
- Biden takes Arizona: Fox News
- Not quite the night for the pollsters so far
- Now the waiting game begins
- Wisconsin result Wednesday. Michigan Friday. Pennsylvania Thursday.
- USDCAD finds sellers near the 100 hour MA
- Polls in all states but Alaska and Hawaii now closed
- The winning election forecast is we won't get a result tonight
- FOX News still not calling the presidential race - "a toss up"
- Trump turns the tables in Ohio, takes a big lead
- Watch out for the red mirage in the key northern states
- With Arizona, Biden has a solid path to the White House
- Arizona swinging Bidens way
- S&P ripping higher again
- Pennsylvania 19% counted, Trump 49.6%, Biden 49.1
- Bank of Japan Governor Kuroda says desirable for currencies to move in a stable manner
- PBOC getting their wish for a lower yuan
- USD is racing higher. AUD getting smashed
- Wisconsin result is not expected until 6am (US Central Time)
- US dollar adds to gains as Trump odds continue to improve
- Dollar extends run higher
- Rove says Trump will take Texas with only rural votes now to be counted
- Trump is expected to speak Tuesday evening (US time) regardless of result
- Big reversal underway in Treasuries as Trump's odds improve
- Risk getting hit hard again
- Fox News projects Democrats to retain control of US House (as expected)
- Ohio race update, Biden 51.7%, Trump 47.0% (approx 60% counted)
- US Senate seat in Colorado flips to Democrat
- Bank of Japan Governor Kuroda says BOJ will maintain current policy easing
- GBPUSD runs back to test its 200 hour MA and sees a bounce
- Votes so far in Ohio paint a good picture for Biden
- ES futures on the up again
- A North Korean has been captured by South Korean military after crossing inter-Korean border
- Biden is up significantly on Clinton ... but he is not running against Clinton
- China Caixin/Markit PMIs Services 55.7 and Composite 56.8 for October
- Trump climbs in the betting odds, North Carolina looks close
- Markets in suspense as the map begins to move north
- New York Times 'needle' has Georgia 85% for Trump
- PBOC sets USD/ CNY reference rate for today at 6.6771 (vs. yesterday at 6.6957)
- FX option expiries for Wednesday, November 04 at the 10am NY cut (light one coming up)
- Trump campaign, Nevada Republicans have filed an emergency motion to limit vote counting in Los Vegas
- Risk getting smashed as US Senate leader McConnel wins re-election in Kentucky
- Early Miami-Dade vote tally not strong for Biden and it's reversing the USD move
- Dollar swings around as early numbers come in
- US overnight equity futures swinging around on election incoming results
- Australia Retail Sales data for Q3 and September
It was a day of swings for currencies in Asia as US election results started to trickle in. Early hopes were for a 'blue wave' as Democrat numbers initially came in strong, sending the USD lower and currencies higher, only to reverse as the Dem lead dissipated quite quickly.
The the current state of affairs can be summarised:
- Democrats will keep control of the House of Representatives
- Both parties have flipped Senate seats and it appears the upper house will remain Republican majority held although uncertainties remain here.
- The race for the presidency is still open, Trump is polling more strongly than was forecast. A result tonight is not expected.
For the Electoral College, keep your eye on 270, the number of votes need to win the White House.
The big winner? The USD:
