Trump wins the White House hands down
In the end, Republican Donald Trump will be the 45th U.S. president. Much like the campaign, the suspense lasted until the bitter end, with final results only confirming late in the evening that Trump had picked up the 270 Electoral College votes needed to win the White House. The GOP also secured majorities in both the Senate and the House of Representatives. During his victory speech, Trump adopted a much more conciliatory tone than he had in his campaign, seeking to bring the country together and vowing to “renew the American dream.”
On financial markets, the roller coaster ride of election night gave investors lots to digest. The Mexican peso lost close to 14% of its value against the greenback over the course of the evening. The S&P 500 Index also posted a decline of more than 5%. Gold, probably used as a defensive position, is posting gains over 2% this morning. The Canadian dollar was also swept up in the wave, shedding more than 200 points against the greenback and falling to its lowest level since March.
No economic news of importance is expected today, which is probably a good thing, as it will give markets a chance to dust themselves off from the turmoil of election night.
