On November 3, Americans will be voting for a new president and setting the trends for currencies and stocks for the next few months. The financial markets were set in motion long before this event. And traders are going to make more money than usual all the way until the new year!
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The two main candidates are the Republican Donald Trump and the democrat Joe Biden.
Biden's a little ahead at the moment, but the situation may turn on a dime as was the case in 2016. Back then, Trump's unexpected win caused the US stock indexes to lose 4%.
42% of Americans are ready to vote for Trump, just like you.
The incumbent President's victory will bring the stock market up by 3%. Trump supports capital investment, so stocks of banks and investment companies like Goldman Sachs will go up as well.
over 50% of Americans support Joe Biden.
If he wins, stocks will soar 4-5% and will continue to go up after the election. Democrats' victory has once caused a bull market. As an example, S&P 500, USA's key market index, has demonstrated an average growth of 15%.
The dollar started appreciating relative to the Japanese yen and the Euro in September 2020. During past elections, the dollar gained the most relative to the currencies of Japan, Switzerland, and the EU.
The impact that elections have on the markets is akin to the domino effect. All sectors of the economy are going to be affected, and it's going to take a long time for things to settle down. With a tried and true plan from MaxiTrade, you will be able to start trading immediately and get the most out of the market both in the run-up to and in the aftermath of the elections.
For details, contact your analyst.