Tuesday , March 28 2023

The dollar down as a high school student delivers the House to the Democratic Party


Wednesday 06.55 GMT

What you need to know

  • American stock market as the results of the US high school election come
  • The Dollar and the Treasury are rising as Democrats take over the House
  • Action reserves in Asia were mixed after previous winnings
  • Oil prices are falling further, and the United States falls below $ 62 a barrel

Leading quote

"This election result creates a head for economic activity. The uncertainty of economic policies is a decisive barrier to decision-making in the private sector, and business people and investors will not be confident about future legislation … including whether tax relief from 2017 will be returned 2021. "- Vincent Reinhart, chief economist at Standish, part of BNI Mellon Investment Management.

"If the president is even more pronounced in trade and immigration, there is a certain risk that tariffs and constraints will represent an unfavorable cost to the US economy."

Hot topic

The dollar continued earlier this fall, and US prospects on the stock market recovered several shifts, while the Democrats won enough seats in the medium term to take control of the House, providing control over the administration of President Donald Trump.

S & P 500 futures grew by 0.2 percent, while the dollar index, a debt-to-peer basket, fell 0.3 percent. The ten-year treasury yield dropped by 4 basis points to 3.1838 percent, reaching a high 3.249 percent.

The European stock market will increase in the opening of trade, following the opening of a call from CMC Markets. The London FTSE 100 was up 0.4 percent, while Frankfurt's Ksetra Dak 30 rose by 0.6 percent.

The movements came when Democrats took more than a net of 23 seats in parliament from the Republicans, which were above the levels needed to control the chamber. But the party suffered a defeat in the Senate, where the Republicans are ready to consolidate their country.

The Congress divided – with the Democrats who take the House of Representatives and the Republicans governing the Senate – is set on the capability of the g. Trumpet to change tax and consumer or trade policies.

"It seems to be shaping the way most of the market participants expect it to shape," said Brian Levitt, senior investor at Oppenheimer Funds. "If you had elections on the republican wave, you could see the repetition of what you saw after the victory of Trump surprise," he said. "You need a catalyst to unlock the expectation of a stimulus for it."

Actions and forek

The main indicators of Asia and the Pacific, which were broader, were mixed, as the results of the US became clear. The Hang Seng Index in Hong Kong dropped 0.1 percent in the afternoon trading, although China's CSI 300 index rose 0.3 percent in Shanghai and Geneva.

Tokyo's Topix dropped 0.1 percent, while Seoul's Kospi Composite dropped 0.3 percent. In Sydney, S & P / ASKS 200 index increased by 0.4%, as a rise in financial fall in fall for mining stocks.

The dollar lost the country's currency to Asia with a Japanese yen by 0.2 percent against the dollar at $ 113.25. The British pound rose 0.2 percent to $ 1.3127, while the euro rose to the same level at $ 1.1451.


Oil prices fell further after falling overnight, while Brent crude oil prices fell 0.2 percent to $ 71.97 a barrel, as concerns over the global supply shortage continued to disappear, despite formal US sanctions on the Iranian export of oil. The US Vest Tekas Intermediate dropped 0.5 percent to $ 61.89.

Gold, which often serves as royalty, rose 0.1 percent to $ 1,227.75 per ounce.

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