020 7898 0500At 6am on the eastern seaboard, polling stations will open so that the American public can vote in the midterm elections. It is impossible to call right now, although there
are reports that voter turnout could be higher than it has been for the past 50 years. The results could have a significant bearing on Trump’s ability to pass more of his
policies and could give us an indication of how the public believe he has performed to date.
US service sector growth dipped to 60.3 in October from 61.6 in September, but it still beat market expectation of 59.3 and shows impressive growth. While production, new
orders and employment slowed, general growth in the services sector remains strong.
Today will be dominated by the midterm elections and the reaction to the results as they come in. It could be a bumpy couple of days and one wonders what Trump will say if the
Republicans end up losing seats.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on
020 7898 0541.
