News and Market Analysis

Presidential debate lights up the markets

Nothing like a good old debate to get the markets going. Today we say the a battle for power in the US presidential debate and the markets are mixed on the result. firstly we see the S&P 500 futures drop by 350 points, eliminating any gains it had made after Trump mentioned the November 3 election result might be delayed.

Much like one would anticipate, investors flocked to the dollar to find security. The EUR/USD fell from 1.1745 to 1.1727.  AUD/USD dropped from it’s high of 0.7146 to a low of 0.7102, the Pound went from 1.2872 to 1.2834 and the Kiwi fell from its daily high of 0.6611 to 0.6580. Gold also took a tumble declining from $1,900 to $1,890.

Reuters has President Trump’s chances of winning the election at 40% after the first sparring match between the President and Democrat candidate and former Vice President Joe Biden.  But, as history would tell us, don’t count your chicken yet as the race isn’t over.

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