US Election: Trump wins Florida, S&P 500 futures resilient

Dhwani Mehta FXStreet

The latest trends show that Joe Biden is losing ground in battleground Florida, which is now called for President Donald Trump.

Republican Maria Elvira Salazar defeats Democrat Donna Shalala for a Florida House seat, per Associated Press.

“Trump's 3.5% victory in Florida almost tripled his 2016 margin of 1.2%,” FXStreet’s Senior Analyst Joseph Trevisani noted.

So far, Biden has won 13 states and Trump 16. But Biden's national tally is higher with 131 electoral votes compared to Trump's 108.

Trump is leading in the 6 swing states

Meanwhile, Wisconsin is unlikely to announce a winner tonight, Michigan needs until Friday and Pennsylvania saying Wednesday or Thursday, according to the latest reports.

Market reaction

The risk sentiment is seen stabilizing over the last hour, with a Biden win back in the spotlight after Arizona’s swing. However, Florida called for Trump failed to have any impact on the market.

The S&P 500 futures held on to its recent bounce, trading 1.50% higher while the US dollar consolidates the retreat below 94.00.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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