OANDA

OANDA - USA Election Commentary

News   •   Nov 09, 2016 22:23 +08

Please attribute the following commentary to Jeffrey Halley, senior market analyst at OANDA:

World markets continue to bask in a Clinton afterglow this morning with stock, commodities and the USD all broadly higher as the market prices in a Clinton victory. Although Ms. Clinton is regarded as the staus quo candidate by the markets, making her more popular than the same-named band in a Christmas Special, this may well be premature.

We still hold that the election will be much closer then the markets are pricing in. The nature of the flows into “risk” assets in the last 24 hours is reminiscent of systematic traders and fast money. Both are fickle beasts and will head for the door just as fast as they ran through it, on any waning of momentum or perceived unfavorable news headlines.

This is not a one-way trade; we continue to expect more two-way volatility as polls open in the United States and even more fickle trading once the initial exit polls start to hit the street tomorrow morning in Asia.

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Jeffrey is available for interviews or further comment. Please call Jeffrey at +65 9457 1849 or email jhalley@oanda.com.