The attempted assassination of former President Trump this weekend is thought to further strengthen the candidate's position in the polls, with betting markets suggesting he has a 65% chance of winning the presidential election.
➡️ What must have been an assassination attempt on former President Trump took place on Saturday. Several shots were fired from a nearby rooftop, one of which struck Trump's ear., causing him to bleed a little. Trump was escorted off the stage, but there were questions about how the Secret Service failed to secure a rooftop so close by. There were also questions about how long it took security to get Trump off the stage and to the hospital. In any case, former President Trump seemed little more than touched and continued with his program. President Biden strongly condemned the shooting and called for unity. Politically, this can be expected to benefit Trump and perhaps further increase the lead he has begun to build over President Biden in recent weeks. Betting markets currently imply a 65% win for Trump.
➡️ The increased likelihood of a Trump presidency sent U.S. Treasury yields lower during the Asian session on Monday, as Trump is expected to adopt the kind of economic policies that are likely to generate lower interest rates: tax cuts, higher tariffs and looser regulations.
➡️ The US dollar fell a bit earlier, but has regained enough strength to be the strongest major currency in the Forex market since the Tokyo open today, while the New Zealand dollar is the weakest., focusing on the NZD/USD currency pair.
➡️ Bitcoin has already risen strongly today to a new 2-week high and is trading very close to the top of its range. Some analysts attribute Bitcoin’s strong gains since Saturday as an indication of an expectation that a President Trump will go easier on Bitcoin and cryptocurrency regulation.
➡️ Major Asian stock indexes are falling, with the HSI down nearly 1.4% on the day just before the close. However, futures on major U.S. stock indices rose a bit today.
➡️ Federal Reserve Chairman Jerome Powell will give a brief speech later today.
➡️ The Empire State Manufacturing Index data will be released today in the United States.
Credit by DailyForex.com