US Election: Here we go!

US Election: Here we go!

On this US Presidential election day, markets are broadly moving in a risk-on direction, with stocks climbing and the US Dollar falling. Polling data is currently favouring Democratic candidate Joe Biden to defeat the Republican incumbent, Donald Trump. It’s more than likely, however, that the victor will not be announced tonight, as ballot counting in the key battleground states of Michigan, Pennsylvania and Wisconsin will not be completed in time. As of last night, around 99 million Americans had cast their vote, which represents 72% of the total 2016 voter turnout, putting the country on course for a record participation rate.

We could still see chaos ensue in the next few days after Trump repeated his baseless allegation that the Democrats were trying to steal the election and warned that his team would be going in with their lawyers to block the counting of votes after election day. Watch out for Trump declaring himself victorious before all of the votes have been counted!

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