...looks like a Trump win is good news for the greenback and bad news for Gold. At least in the beginning.
...if Powell is watching, and decides without political bias, he may want to keep rates where they are now, because Trump won't be helping with inflation. And if he comes into office, he would likely be demanding for rates to be cut regardless, so there is less need to jump the gun.
...its all bad on the Biden front, and would not surprise me if Dems bring a new candidate onboard. But rather than bringing a left politician (to make it a left vs right fight), a bigger surprise is to bring a well known Hollywood actor/celebrity (much like Donald himself) that can rejuvenate and reinvigorate the electorate.
...watch for the twist. It won't be all plain sailing for the Donald if the Dems are not sleeping on the wheels.
By Matthew Burgess and John Cheng
June 28, 2024 at 12:36 PM GMT+10
Updated on
June 28, 2024 at 2:13 PM GMT+10
The dollar inched higher in Asian trading as markets assessed former president Donald Trump was the victor in the first US presidential debate.
Bloomberg’s gauge of the US currency climbed as much as 0.2% on Friday before the move pared, with the index on track for a sixth straight weekly gain. President Joe Biden stumbled through early exchanges in the debate, a performance that may intensify worries about his ability to defeat Trump in the November election.
Trump reiterated a pledge to impose 10% duties on imports should he win in November, a move that could put upward pressure on inflation, potentially delaying interest-rate cuts that could weigh on the greenback.
“Markets likely extrapolated today’s debate outcome to the actual election outcome in November,” said Carol Kong, a strategist at Commonwealth Bank of Australia in Sydney. “Trump’s policies are likely to add to inflationary pressures and escalate trade tensions, thereby supporting US interest rates and the safe haven US dollar.”
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...looks like a Trump win is good news for the greenback and bad...
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