As of 7:00 a.m. UTC, global news networks, including ABC, CBS, NBC, and CNN, projected that Donald Trump was positioned to win the U.S. presidential election. However, while Trump’s victory appears likely, the balance of power in Congress remains crucial, as it will significantly affect his administration’s ability to govern. Republicans gained an additional seat in the Senate, but neither party has secured control of the House of Representatives.
Financial market analyst Kar Yong Ang at Octa Broker explains, “This market response is largely tied to Trump’s policies, especially around trade and tariffs, which could have broad inflationary impacts. For South Africa, the concern is the potential cost increase in imports, which would place additional pressure on inflation and interest rates.”As the U.S. dollar strengthens, South African exports to the U.S. may become more expensive, impacting competitiveness.