Hillary Clinton seems to have scored a big win on Monday night, both for her campaign and for the markets. A CNN poll indicated that following the debate 62 percent thought that Clinton won the debate and only 27 percent of people believed Trump emerged victorious. Dow futures soared 100 points higher after the debate, on results that Clinton triumphed over Trump in the first round. Asian markets followed on Tuesday, recovering losses from early in the trading session. Japan’s Nikkei 225 index, originally down 1.5 percent, rebounded to a 0.3 percent gain, and Asia’s MSCI index recovered from early losses to a 0.5 percent gain for the day.
In the currency markets, the U.S. dollar rebounded to 100.83 yen, up from 100.08, while the Canadian dollar rebounded from its seven-month lows to $1.3171 on the U.S. dollar. The euro remained steady at $1.1242. Perhaps the biggest movement, however, was in the dollar-peso pair, where the dollar lost 1.9 percent, bringing the peso up from its recent all-time lows which were caused by concerns that a Trump presidency would hamper Mexican exports to the United States. Traders have dubbed the dollar-peso pair as the “Trump thermometer” because Trump’s controversial policy proposals towards Mexico have caused the currency to fluctuate widely as his popularity waxes and wanes.
In the commodities market, oil prices slipped after gaining 3 percent on Monday as investors took profits and waited for an announcement from OPEC. Clinton’s win in the debate which strengthened the dollar also caused oil prices to fall as a stronger dollar makes commodities like crude oil, which are priced in dollars, more expensive for consumers that pay in other currencies.