Please note that the US presidential election will take place on Tuesday, the 8th of November. The outcome of this event will be extremely important for the dynamics of Forex market and can cause a spike in volatility.
Republican nominee Donald Trump and Democratic candidate Hillary Clinton are the two main competitors for the Oval Office. Clinton’s win is regarded as a less risky scenario because she is expected to continue the policy of the current administration. On the other hand, the victory of Donald Trump would send a wave of shock through the markets as his actions are much less predictable.
As the election campaign comes to an end, Clinton appears to be ahead of Trump in most opinion polls. However, the room for surprise still exists. It is difficult to predict the outcome of the vote in some key states, so we can’t totally rule out Trump’s victory. Remember that Brexit had also seemed unlikely until British people did really choose to leave the European Union.
FBS analytical team reports that if Hillary Clinton is elected President, riskier currencies such as Australian, Canadian and New Zealand dollars should get a short-term boost versus the US dollar. If Trump wins, the mentioned currencies will be vulnerable for a sharp decline, while the safe havens like Japanese yen and gold may surge.
The bottom line is that you should be aware of the heightened volatility at the election day and during the following trading sessions. FBS strongly recommends you to apply the appropriate risk management tools while trading.
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What impact will the election have on the bitcoin price?
Donald Trump accepts Bitcoin as the new USA currency. Hahaha.
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