The US elections are the market’s focus today.
Stakes have not been higher in generations for a nation in crisis and financial and commodity markets.
See the preview here:
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US Elections are finally here: Buckle-in for volatility
Meanwhile, we are starting to get the first indications for some states.
Crucially, Florida has Trump in the lead according to the following New York Times gauge:
Florida is important because it has proposed ballots weeks before election day and results should be out today.
If Trump wins Florida he gets to stat in the race but if Biden wins in, to could be his path to the White House.
However, North Carolina has voted Republican in every election since 1980, bar 2008 when it surprisingly flipped for Barack Obama.
Exit polls show that the Republicans are battling back to catch up with the early Joe Biden scorecard that has a 19 point swing.
Donald Trump took the state for the Republicans in 2016, winning over Hillary Clinton by 3.6 per cent.
However, with a rapidly increasing suburban, college-educated population, the Tar Heel state’s 13 Electoral College votes were firmly in play for Joe Biden.
On an important side note, 4.5 million voted early, about 50% more than 2016.
Meanwhile, the US dollar is on the backfoot early into the voting:
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