|

2020 US Elections: Trump scores but is it enough?

  • Trump and Biden clash in a mostly civil debate.
  • Trump stays on message and remains composed throughout.
  • Biden's several errors will appear in campaign ads.

The final debate of the 2020 election was a huge change from the raucous and barely controlled initial confrontation.

Donald Trump and Joe Biden learned the public disapproval lesson of their first meeting. Interruptions were minimal, response times were short and the directions of the moderator Kristen Welker were generally followed.

The six topics, COVID-19, American families, race in America, climate change, national security, leadership were covered in 15 minute segments with each candidate given an uninterrupted two minutes to speak.

Market response was minimal with currencies, US equity futures and bonds unmoved.

As he said he would, Mr. Trump brought up the recent charges that Biden's son Hunter traded on his father's office to enrich himself and the Biden family.

Mr. Biden challenged the president to release his tax returns and said the president was responsible for the 200,000 COVID deaths in the US.

The quality of the exchanges and the informative value was high. Each candidate performed well, though in comparison to the first debate Trump showed much greater range.

Most of the back and forth challenges moved to Trump's initiative. His persona was considerably different, restrained, focused and in command of facts and recall.

In that difference Mr. Trump probably helped himself more with his modulated performance than Mr. Biden who was unchanged from his earlier appearances.

Mr. Biden also committed a number of errors that will certainly appear in Trump campaign ads in the next twelve days.

Primary was his statement that “I would transition from the oil industry.” When combined with his previous promises to end fracking, which in the debate he denied ever saying, but exist in several videos, the impact could be costly in close states like Pennsylvania where the oil industry has brought prosperity to many communicates.

He also claimed that the laptop subpoenaed by the FBI last year in a money-laundering investigation and now at the center of the corruption accusations swirling around his son Hunter and himself, was a Russian plant. The FBI and the Director of National Intelligence, the head of all 17 US intelligence agencies, John Ratcliffe have said that it is not, clearly implying that the computer and the information on it, belong to Hunter Biden.

Finally in an exchange over Obamacare, Mr. Biden claimed that no one lost their health insurance because of the bill, an assertion debunked many times.

Mr. Trump committed no errors and was forceful in pursuing Biden, at several points asking him direct questions to which the former Vice-President had no response.

But with so few undecided voters and so little time left will President Trump's superior performance matter?

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to PremiumSign In

Author

Joseph Trevisani

Joseph Trevisani began his thirty-year career in the financial markets at Credit Suisse in New York and Singapore where he worked for 12 years as an interbank currency trader and trading desk manager.

More from Joseph Trevisani
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD bounces toward 1.1750 as US Dollar loses strength

EUR/USD returned to the 1.1750 price zone in the American session on Friday, despite falling Wall Street, which indicates risk aversion. Trading conditions remain thin following the New Year holiday and ahead of the weekend, with the focus shifting to US employment and European data scheduled for next week.

GBP/USD nears 1.3500, holds within familiar levels

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and trades with modest intraday gains at around 1.3490 as market participants remain in holiday mood.

Gold trims intraday gains, approaches $4,300

Gold retreated sharply from the $4,400  area and trades flat for the day in the $4,320 price zone. Choppy trading conditions exacerbated the intraday decline, although XAU/USD bearish case is out of the picture, considering growing expectations for a dovish Fed and persistent geopolitical tensions.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).