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Equities surge on US mid-term election results

The Pound continues to gain strength as hopes a Brexit deal is in sight are up while the Dollar is also on the rise ahead of the Fed’s meeting.

Centtrip: Trump lambasts Fed ahead of Powell’s testimony

It has been a good week for investors as global stocks rose following US mid-term elections results. Now that Democrats gained control of the House of Representatives, it will make it much harder for Donald Trump to push through further reforms.

Analysts have suggested that historically Republican presidents and a split Congress boded well for stocks, which have gained 15.7 per cent on average in this scenario based on the S&P 500.

The Dollar is also on the rise ahead of the Federal Reserve’s policy announcement, with the next interest rate increase expected in December. The Dollar Index has recovered its losses from the mid-terms, having gained 0.2 per cent overnight.

The Pound continued to hold firm as a Brexit deal between the UK and the European Union is getting closer in sight. UK Prime Minister Theresa May yesterday, 7 November shared the 95 per cent complete withdrawal treaty with Cabinet ministers.

Meanwhile, official figures released today, 8 November showed China’s exports grew by 15.6 per cent in October in US Dollar terms, despite tariffs on its goods.

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