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Oil and Gas: Blue wave in US elections likely to be a positive catalyst – Goldman Sachs

With the US presidential election coming closer, up for November 05, global banks come forward with their analysis concerning the most likely outcome if the market favorite Democrats win.

A blue wave referred to as the Democrat's control of the presidency and both chambers of Congress will become a positive catalyst for energy commodities, per the analysts at the Goldman Sachs.

It should, however, be noted that US President Donald Trump has taken note of these polls and recently took a U-turn on the coronavirus (COVID-19). However, nothing could roll out the much-awaited stimulus measures as the Democrats are steady as a rock on their demands.

Market implications

Although such forecasts keep commodity traders hopeful, caution ahead of the event may challenge the risk trades. That said, WTI oil prices currently print 0.73% intraday loss while declining to $40.48 whereas S&P 500 Futures gain 0.15% on a day to attack 3,480 during the pre-European session open o Monday.

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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