Germany would be the big loser if a Trump presidency sparked a tit-for-tat trade war between the United States and Europe, with Germany’s previously much-envied industrial strength potentially becoming an acute vulnerability.
Asian currencies were nursing steep losses from the prior session after news of Trump’s victory sparked sharp increases in the dollar and Treasury yields. But they steadied from these losses on Thursday, with speculation over government intervention in Japan and China also helping their respective currencies
Oil prices ticked up on Thursday following a sell-off triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger dollar and lower crude imports in top importer China.
Bitcoin steadied near recent peaks on Thursday, as Donald Trump’s victory in the 2024 presidential election sparked sharp gains in cryptocurrencies on the prospect of friendlier crypto regulations.
European stock markets traded in a mixed fashion Thursday, as investors digested the ramifications of political upheaval in Germany and Donald Trump’s return ahead of rate decisions from the Federal Reserve and the Bank of England.
