US equities closed in the positive and even the USD has closed higher yesterday, this morning Asia is well into positive territory but its not Clinton to have won – its Trump. Against all expectation Trump won the electoral race and it seems not only polls defied expectations but even the markets.
Before election day the scenario, if Trump even managed a win, was looking far more dire than it really turned out to be both for stocks and even for the USD. Granted the mexican peso did tumble as the results started to take shape and it looked like Trump was leading, but after yesterday’s tumble it looks like we are currently seeing a bit of a consolidation as well this morning.
Simply a wrong forecast? Some analysts are of the idea that that yesterday’s buying was simply the corrections by the big players whol piled in heavily, but on the wrong side, before the results and had thus to correct their intitial positions as Trump emerged victorious. So watch out whatever trade you take, volatility remains.
USDMXN largely seen as an election proxy is currently at 19.78 this morning, after yesterday’s highs of 20.77. The US Dollar index (DXY) is currently at 98.48 just off yesterday’s highs of 98.70, closing its third day with consecutive gains.
