Premarket: Currencies jumpy, stocks stable with all eyes on U.S. election

Stocks were steady on Tuesday but implied volatility ratcheted up in currency markets in an early indication of the market frenzy to come, as the world awaits the outcome of a knife-edge U.S. election.

Currencies, which unlike shares trade around the clock, saw more action albeit still offering only scattered and contradictory indications of which candidate investors were betting on. Bitcoin added 2.7% to about $68,884, with Trump viewed by analysts as enacting more favorable policies for cryptocurrencies than Harris.

“Ultimately the U.S. election comes down to this - whether the U.S. electorate wants to vote for economic policy continuity, institutional stability and liberal democracy or radical trade policy, a further retreat for globalization and strongman democracy ,” J.P. Morgan analysts said in a note. “In short, a vote for stability or change.”

“Simply, if Harris wins, we like selling dollar/yen and buying AUDUSD,” said a currency strategists at Citi. “If Trump wins, we like buying USD against EUR, SEK, and NOK.”

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: Stocks trade sideways awaiting China stimulus movesInvestors hope to receive clarity on Saturday
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks up after China shares rally, gold at all-time highOil prices are headed for their biggest weekly loss in more than a month
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Traders await U.S. inflation test, China revives stocks rallyU.S. futures sit lower ahead of key economic release
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Tepid start to week for world stocks, but gold, bitcoin shineTrump trades continue to gain momentum
Source: globeandmail - 🏆 5. / 92 Read more »