06.11.202406:40 Forex Analysis & Reviews: Hot Forecast for EUR/USD on 11/06/2024

As polling stations in the United States remained open, the dollar gradually lost ground. It appears that this was a classic counter-move just before the release of highly significant data or news. This pattern often occurs in markets when most investors anticipate a particular development, yet prices move in the opposite direction right before it happens. Once vote count updates began to surface, the euro plummeted. Current figures show that Donald Trump secured 210 electoral votes, while Kamala Harris only had 113. With 270 needed to win, it's still too early to draw definitive conclusions, as everything could shift, though Trump's lead over Harris appears substantial.

Additionally, the Republican Party seems poised to secure majorities in the Senate and the House of Representatives. This would mean an absolute Republican victory. From a global market perspective, this outcome is far from ideal, as the Republicans tend to support stricter protectionist measures and tighter control over cross-border capital flows. For this reason, the dollar started to strengthen rapidly—most of the financial capital circulating in global markets is controlled by U.S. institutional investors. A Trump administration would likely implement policies that could increase the returns on investments, specifically within the American economy. However, things could change at any moment, and keeping a close eye on the vote count is essential.