Trump wins North Carolina, no surprise, focus is on the Senate

Decision Desk HQ has reported that the US President Donald Trump has officially taken the state of North Carolina, which is no surprise and confirms that media tallies which market already knew.

15 electoral votes have been confirmed.   

Meanwhile, whether Trump can reverse the outcome of the election by proving that there were enough invalid votes in enough states to win the 270 electoral votes for victory is a far cry.

 Turning around the results in any other particular state, even in Pennsylvania, will not achieve enough votes and he has to prove a difference in several states. 

So far, Trump and his campaign continue pushing on to contest the election results tooth-and-nail.

Pennsylvania is contested because of the extended deadlines and blocking of observers. The time it has taken for officials to count ballots, according to the Republicans is a sign of something fraudulent happening. 

Michigan is being contested on unfounded claims of a lack of transparency.

Arizona is contested on rumours that some voters had their ballots incorrectly rejected because they used Sharpies to fill them out. 

Georgia apparently counted late ballots and in Nevada, the Republican party claimed that "irregularities have plagued the election" in clark county, the state's most populous county. However, there is no evidence.

The markets have made up its mind, as has much of the world, that 2021 there will be a Democratic leader in the White House. 

However, what is mostly key, is the Senate.

As it stands, a divided Congress, with the GOP holding the Senate is Wall Street's preferred outcome and positive for risk sentiment. 

In the latest comments from Senate Majority Leader Mitch McConnell, he has told reporters that he sees no need for multi-trillion dollar coronavirus relief bill.

He will be speaking to Pelosi about spending bills soon.

This can transpire into a less weak US dollar, as we have seen on the charts this week:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Stop losing your money! 
Learn to trade with us!

24/7 signals + Webinars    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hovers around 1.1900, a 100 pips run in the cards

EUR/USD managed to post a modest intraday advance on a dull Monday, retaining its positive stance.


GBP/USD trades around 1.3750 amid UK reopening

GBP/USD is trading around 1.3750, benefiting from dollar weakness and as the UK is reopening. Non-essential shops and other businesses are back Britain's vaccination campaign proves successful in keeping covid cases down. 


Gold: Bears ready to pounce following key break of support

XAU/USD bears are lurking at a critical level of resistance. Gold is correcting from a significant area of support as pressures mount in general and the focus can be on an optimal shorting point as price meets a significant area of confluence.

Gold News

ETH awaits imminent jump to $2,400 if key level cracks

Ethereum price hit a new all-time high at $2,203 on April 12 but seems to have formed a robust resistance trendline. However, most on-chain metrics show that ETH is bound for a significant leg up.

Read more

Equity rally at risk ahead of CPI & earnings

After a good week, equities are looking a little more hesitant today, with caution prevailing as markets await the start of US earnings season.

Read more