10/11/16 - May Congratulates Trump

USD

The US Dollar, Mexican Peso and world stocks traded in a choppy fashion yesterday, but fell short of fears of the kind of shock that wiped trillions of Dollars off world markets after the Brexit vote.

US stocks rallied late on Wednesday, a turnaround from overnight losses caused by the dramatic victory of Republican Donald Trump. Investors bought up stocks in sectors that appeared likely to benefit from the policies of a Trump presidency.

Concerns about the impact of Trump’s presidency on the Mexican economy saw the Mexican Peso fall more than 13% overnight against the dollar  -  its lowest level in 20 years. It has since pulled that back slightly to an 8% loss. Mexico is expected to suffer under the Trump administration, as he has pledged to build a wall along the US border with the country and renegotiate the two nations' trade agreement.
 

GBP

As Donald Trump supported Brexit, one of only a few politicians around the world to do so, and slapped down President Obama who said the UK could be "at the back of the queue" for a trade deal after Brexit, UK politicians are positive about the US-UK relationship going forward.

Theresa May led UK political congratulations for Donald Trump after his US election victory. The Prime Minister said that Britain and the US have an "enduring and special relationship" and would remain close partners on trade, security and defence.
 

Key Announcements

13:30 – USD : Unemployment claims, forecast at 267k against a previous of 265k