Joe Biden has been elected the 46th President of the United States according to Fox News, AP, ABC, NBC, and CNN. The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump. Here is the official post from ABC: ABC News can characterize Joe Biden as the apparent winner in Pennsylvania — a win that makes him president-elect.
EUR/USD has stabilized around 1.19 after the ECB meeting minutes pointed to some caution about expanding the bond-buying scheme. Earlier, the dollar weakened after the Fed signaled openness to more QE. The US holiday implies thin volume.
GBP/USD retreats from near 1.3400, undermined by Brexit woes and renewed dollar demand. Doubts arise about Chief EU Negotiator Barnier traveling to London.
A winner has yet to be declared in the 2020 Elections, which have turned into a nail-biter. Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss the results, the reaction in financial markets, and discuss what's next. High volatility is set to prevail.
It’s not uncommon to see considerable corrections in the market after massive rallies like the one Bitcoin is experiencing. Around $80 billion were wiped out from the market in less than 24 hours, and some analysts believe the price could go even lower.
At the time of writing, Ethereum (ETH) is trading at $520. The second-largest digital asset, with the current market capitalization of $59 billion and an average daily trading volume of $30 billion, has lost over 12% on Thursday. However, it is still in a green zone on a week-to-week basis.
Cardano (ADA) has climbed to the 8th position in the global cryptocurrency market rating. The coin hit $0.194, the highest level since July 2020, on November 24, before the correction started.
MORE NEWS & ANALYSIS
The FXStreet editorial team selects the stocks with the most interesting image of the day on a daily basis. Check them out:
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- BA Stock Price and Quote: Boeing Co continues to take flight as optimism for global travel strengthens
- RR Stock Price: Rolls-Royce PLC corrects lower after starting the week on investor optimism
- BCS Stock Price: Barclays PLC crashes alongside the FTSE 100 on UK economic contraction woes