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16 Oct 2024

US election coming into view

• Mixed signals. US equities ticked up, while bond yields slipped back. GBP, EUR, NZD, & AUD lost a bit of ground. US election is fast approaching.• US election. Trump is ahead in the polls across most of the battleground swing states. Given his policy platform this is supporting the USD.• Event radar. Locally, the jobs report is due today. Tonight the ECB is expected to cut rates again, while in the US retail sales & jobless claims are due. Mixed fortunes across markets overnight. US equities rebounded from the previous days dip with the S&P500 (+0.5%) hovering just below...

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Dollar Climbs on Trump Tariff Threats

The dollar is trading near a two-month high after Donald Trump doubled down on his trade threats in a widely-watched interview with Bloomberg News. “To me, the most beautiful word in the dictionary is ‘tariff’,” he said, telling interviewer John Micklethwait – formerly editor-in-chief of The Economist – “It must be hard for you to spend 25 years talking about tariffs as being negative and then have somebody explain to you that you’re totally wrong.” The Mexican peso dropped sharply as Trump attacked the friend-shoring investment narrative, suggesting that Chinese manufacturers were trying to navigate around US trade protections by...

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