In the biggest American political upset of a lifetime, Donald Trump has been elected President of the United States. Just in case you hadn’t heard! I confidently predicted that Hillary Clinton would win the election. I was wrong, as was almost every other election pundit. It’s a good example of why you should never bet the farm on a single trade, no matter how probable you think your predicted outcome is.
So, very soon this endless torture is going to be over and we can all get on with talking about something else. Unless, that is, a nightmare scenario like 2000 arises where the result hinges on a handful of disputed votes. This is unlikely, and though I blow my own trumpet (no pun intended) for
I would like to say voting takes place tomorrow (Tuesday) in the U.S. Presidential Election, but I must say that voting concludes tomorrow, as many states allow for early voting, and something like 42 million electors have already cast their ballots.
Last Friday’s key non-farm payrolls U.S. economic data came in a little worse than expected, at 161,000 as opposed to the market consensus which was expecting 174,000. This was marginally poor news for U.S. Dollar bulls even though it has been strongly overshadowed by all the natural focus on the U.S. Presidential Election which will be held next Tuesday.
In recent weeks I have written a
New polling data released yesterday suggested that Donald Trump has been recovering and has a real chance of winning the election last week. The election had been looking as though Hillary Clinton had it in the bag. I’ll take a closer look at those polls and possible election outcomes later, but first I will turn to their effect upon the markets and repeat that I still see a Clinton victory as a near-certainty.
This week in the markets is all about a lot of fundamental economic data and input from key central banks. We did not have anything scheduled for Monday, but during the Asian session that just passed, we got some facts from three crucial Asian economies.
If you want to be a successful trader, it is important and probably inevitable that you will learn Japanese candlestick patterns. These can be composed from anything to a single candle to a