Macro observations Once again a surprise political event has altered the landscape of global FX markets; however, far from reacting in a similar vein to the “Brexit playbook”, the US presidential election instead prompted the complete opposite. A surprise Donald Trump victory was forecast to produce a sell-off in the US Dollar similar to the…
What a week it’s been. Trump triumphed. So far, the Trump rally has been straight from the ‘Brexit playbook’, with the initial market shock as the polls came in being quickly replaced with a rally of greater proportions. The Dow Jones has posted fresh all-time highs; the German DAX touched 10800 for only the third time this…
Markets are giving US President-elect Donald Trump the benefit of the doubt. Rather like Brexit, early surprise and discontent has already given way to acceptance and optimism. Brexit was obviously not an isolated event. Voters and investors in another major nation have been dealt a new hand. The view now is, what’s done is done,…
Financial markets have swiftly reassessed Trump’s win, embracing it with bullish gusto. After a gracious acceptance speech there is faith that a more Presidential persona will replace the extreme character portrayed to win populist votes. Markets are moving on even more quickly than after the UK referendum Brexit result. Investor skin has clearly thickened in the interim. Which bodes well,…
At the front of the pack this morning are Copper miners (Antofagasta, BHP Billiton, Evraz, Glencore, KAZ Minerals, Vedanta Resources) seeing share prices increase upwards of 5% as the post-Trump commodity rally continued through the night. A 4.4% rally in the price of the metal so far today follows on from yesterday’s 5th consecutive positive…
Trump wins. The outside chance political outcome is once again the victor as news outlets and polls have been proved decisively wrong for a second time in six months. Yet for all the scaremongering and populist tendencies he showed in the long and hard–fought election battle against the Democratic nominee Hillary Clinton, Trump’s victory speech…