October 2, 2020 8:09:40
This comes after Trump bragged at the first Presidential debate about hosting large scale rallies in support of his campaign, with no reports of Covid-19. The breaking news has sent traders rushing for the safe havens with equity moving into precious metals. Gold has jumped over 200 pips since Trump’s tweet and global equities have tumbled lower.
This has also put the recent recovery of the USD in question with traders not knowing whether to purchase USD due to the safe have aspect, or short the currency due to the uncertainty about the health of the President.
Trump who is potentially the most powerful man in the world has the eyes from all nations watching his recovery, looking for signs of how this will impact the financial markets.
Should Trump become incapacitated, die, resign or be removed from office, Vice President Pense would take his role. This will cause extreme volatility in the market, especially just before the US presidential campaigns.
Traders will be watching the US open for further signs of money flowing out of equities and into the risk-off flows.
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