Breaking: Florida swings towards Trump lead, crucial for the race

FXStreet Team FXStreet

Florida is a do-or-die state for Trump this year, as it was in 2016 and the volatility of the results will be a driver for markets.

76% of the vote is now in for Florida with the votes counted very quickly.

For now, it is seen as 50.4% for Trump and Biden at 48.7%.

The NY Times, however, is giving the result as 93% Trump probability of winning the state.

At a closer look, Trump has already banked an additional 125K votes in Miami Dade from his 2016 performance which is buying him a good-sized leeway in Hillsborough/Pinellas where he may underperform.

DXY under pressure

Despite the prospects of a tight race, the US dollar is under pressure:

In other voting

Joe Biden is up big in Georgia, but Trump moving up.
Trump wins West Virginia.
Biden wins Virginia.

Polls closing, bellwether N.Carolina in focus, Trump leads Florida, US dollar under pressure

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD surges to multi-day peaks past 1.3250

GBP/USD leaves behind Friday’s small pullback and advances past 1.3250 level, or five-day highs, on Monday. Cable’s upside follows extra losses in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD picks up extra pace north of 1.1400

EUR/USD extends its recovery past 1.1400 the figure as the NA session draws to a close on Monday. Indeed, the pair advances for the third straight day amid the persistent offered bias in the US Dollar. Meanwhile, market participants keep gearing up for the ECB Forum in Sintra and the release of critical US labour market data.

Gold bears flirt with $4,000 as Iran tensions and Fed hike bets support USD

Gold remains under some selling pressure for the second straight day on Tuesday, with bears awaiting a sustained break below $4,000 before positioning for deeper losses. Renewed US-Iran hostilities over the weekend cast doubts over the sustainability of the peace deal. This, along with elevated expectations for Fed rate hikes, offers some support to the US Dollar and keeps the bullion within striking distance of the YTD low, touched last week.

Bitcoin stalls at $60K as buyer conviction fades, Strategy authorizes BTC sales

Bitcoin is trading around the $60,000 level on Monday after a sharp decline last week. With the top crypto struggling to recover, analysts suggest the market remains firmly in defensive territory as investors await stronger signs of demand.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.