A wave of concern washed over the market, when it became clear that the republican Donald Trump won the presidential election in the united states. Asian stock markets collapsed with the dollar. Turbulence was dampened, however, badly when Trump held a victory speech with a focus on the one the united states. And on Wall Street, the reaction was barely noticeable.
In Asia, the traders prepared for a turbulent day of trading before the election results from the united states. Arkivbild.
the stockholm stock exchange was feared before the börsöppningen collapse. But the skräckscenariot came to nothing. In the afternoon, low in the decline of the modest 0.6 per cent – in line with the leading Europabörser. U.S. stock markets opened on flat courses.
the tokyo stock exchange closed earlier in the morning with a race on the 5.4 per cent and in the currency and fixed income markets, it was, at times, large turns – when investors began to hunt for safe investments in what is seen as a more uncertain future.
Trump’s humble victory speech reassured the financial markets.
the bank’s chief economist Anna Breman sees a great risk for the continued roller coaster ride in the market.
“We believe that the market uncertainty will remain, which makes it difficult for the (U.S. central bank) Federal Reserve to raise its key interest rate at the next räntemöte in december,” she writes in an analysis.
the Companies listed on the stockholm stock exchange, compared with many other exchanges ‘ listed companies great exposure to global trade. But there are also big potential winner on Trump’s waiting policy. Skanska, rose by four per cent in the wake of the new president’s promised major initiatives in the infrastructure.
Also on the räntefronten came quickly in a recovery, as well as in the commodity markets. The price of oil fell, first sharply and then get back on the same level.
But despite the relative calm on the financial markets, the concerns remain. Many economists see an increased uncertainty in the global economy, with Trump as president of the united states, with the risk of increased geopolitical tensions, and protectionism. There is also a concern for potential trade war between the united states and countries such as China and Mexico.
“This could change the playing field for the entire global economy,” says SEB’s chief economist Robert Bergqvist.
He has at the same time difficult to get Trump’s program with the promises of tax cuts, deregulation, public infrastructure and protectionism that go together.
“I guess we have to live with quite a large uncertainty in the coming weeks,” says Bergqvist.
the Facts: Riotous in the foreign exchange market
The mexican currency, the peso collapsed by over 13 per cent when it became clear that republican Donald Trump would win the presidential election in the united states.
the downward Pressure on the peso is related to Trump during his campaign said it would tear up the free trade agreement with Mexico and that four-fifths of mexican exports go to just the united states.
the Dollar first fell unexpectedly sharply, but recovered. Most analysts see, with Trump as president of the united states, a completely new monetary policy position for the US Federal Reserve (Fed). The previously-expected u.s. styrräntehöjningen in december to be adopted now, don’t get rid of.
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