{"id":37039,"date":"2022-11-07T16:35:00","date_gmt":"2022-11-07T16:35:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=37039"},"modified":"2022-11-08T10:38:35","modified_gmt":"2022-11-08T10:38:35","slug":"market-wrap-financial-markets-await-midterms","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-financial-markets-await-midterms\/","title":{"rendered":"Market Wrap &#8211; Financial markets await midterms"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"37039\" class=\"elementor elementor-37039\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-918a2ab elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"918a2ab\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-79fd2a2\" data-id=\"79fd2a2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c565fe5 elementor-widget elementor-widget-text-editor\" data-id=\"c565fe5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Markets are in limbo ahead of the midterms elections, with the trading action very dull until the polling results are known later on during the earlier hours of the morning.<\/p><p>Now could be a great time to see how the major banks are feeling about the implications that the outcome of the elections could have on asset classes.<\/p><p>Economists at DBS Bank are vigilant on downside risks in the US Dollar. The US midterm elections on Tuesday could hit the greenback if the Democrats lose control of one or two houses of Congress.<\/p><p>DBS Bank noted that \u201cThe US mid-term elections on 8 November should be negative for the USD if the Democrats lose control of one or two houses of Congress.<\/p><p>Moreover, they state that \u201cThe Republicans will push for spending cuts in Social Security and Medicare in exchange for increasing or suspending the debt ceiling limit. The Biden administration warned that failure to do so would lead to a US debt default.\u201d<\/p><p>Only policy and the US dollar they also note that! Although the US economy exited its technical recession in 3Q22, it should languish in 2023 on restrictive money policy\u201d.<\/p><p>And they foresee that \u201cwith less support from fiscal spending. Against this background, the greenback is considered expensive on a real effective exchange rate basis, not just the spot.\u201d<\/p><p>On the greenback the bank says, \u201cWe expect the US\u00a0dollar index and its components to struggle with their central banks between tightening too little to control inflation or overtightening that increases recession risks.\u201d<\/p><p>HSBC also discuss policy and US dollar implications. They note \u201cThe Fed has lifted\u00a0rates by 375 bps since March 2022 and signalled more rate hikes. We now expect two more 50 bps rate hikes, taking the federal funds target range up to 4.75-5.00%. We also acknowledge an upside risk to the policy rate amid the likely elevated US core inflation into next year, while the Fed is unlikely to deliver any rate cuts in 2023 or 2024.\u201d<\/p><p>\u201cWe continue to believe the <a href=\"https:\/\/bit.ly\/3UagSV4\" target=\"_blank\" rel=\"noopener\">USD<\/a> still has some upside into year-end, based on the three drivers of progressively hawkish Fed policy, slowing global growth, and risk aversion. Nonetheless, this path remains data-dependent and so this USD bounce will likely need inflation readings sufficient to warrant additional Fed hikes, while data that sustain concerns about recession risks may trigger risk aversion, benefitting the \u2018safe haven\u2019 USD.\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Markets are in limbo ahead of the midterms elections, with the trading action very dull until the polling results are known later on during the earlier hours of the morning. Now could be a great time to see how the major banks are feeling about the implications that the outcome of the elections could have [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":37041,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[42,67,728],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Financial markets await midterms - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-financial-markets-await-midterms\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Financial markets await midterms Market Wrap - Financial markets await midterms\" \/>\n<meta property=\"og:description\" content=\"Markets are in limbo ahead of the midterms elections, with the trading action very dull until the polling results are known later on during the earlier hours of the morning.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-financial-markets-await-midterms\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-07T16:35:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-08T10:38:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/11\/GettyImages-1432507442.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"339\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Financial markets await midterms Market Wrap - Financial markets await midterms\" \/>\n<meta name=\"twitter:description\" content=\"Markets are in limbo ahead of the midterms elections, with the trading action very dull until the polling results are known later on during the earlier hours of the morning.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-financial-markets-await-midterms\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-financial-markets-await-midterms\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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