US inauguration day
Joe Biden will become president of the United States on Wednesday, 20th January, after beating Donald Trump in the 2020 US presidential election.
- Democrats secure House and Senate
- Congress certifies Joe Biden as president
- Take a position on the Biden 30 index
Will the markets believe in Biden?
See what a Biden presidency could mean for the markets and wider policy-making decisions by reading market analyst Joe Perry’s assessment of America’s new president in Outlook 2021.
Top Stories
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Compare the candidates' economic policies
| Taxes Neither candidate has outlined plans for any meaningful tax increases, though given the positioning of the parties, tax hikes would be more likely under Biden in our view. |
Taxes Another term for the Trump administration would likely see more tax cuts in our view, as the Republican party would continue with its pro-business agenda. |
| Spending While neither candidate appears particularly concerned with the federal budget deficit, Biden supports elements of the ‘Green New Deal’ which could impact the environmental and energy sector. |
Spending Throughout his administration, Trump has focused on state and local government infrastructure spending, with another $1 trillion stimulus package proposed to support the economy through the current pandemic. |
| Trade Both candidates seemingly view China’s rising prominence as a potential threat, so tensions between the world’s two largest economies may remain elevated after the election regardless. |
Trade Both candidates seemingly view China’s rising prominence as a potential threat, so tensions between the world’s two largest economies may remain elevated after the election regardless. |
| Regulation Biden may be more likely to impose new rules to protect individuals and the environment, a dynamic that could be significant for companies in the energy and financial sectors. |
Regulation Trump has aggressively cut red tape for businesses, which has supported the equity market rally despite one of the worst unemployment crises in recent history. |
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How are markets reacting to the 2020 election?
Last Updated:
| Product | Bid | Ask |
|---|---|---|
| UK 100 | ||
| eu stocks 50 | ||
| Germany 30 | ||
| France 40 | ||
| Wall Street | ||
| US SP 500 |
Last Updated:
| Product | Bid | Ask |
|---|---|---|
| Alphabet Inc A | ||
| Apple Inc |
Last Updated:
Last Updated:
| Market Name | Spread pricing | Min. spread | Trading Hours |
|---|---|---|---|
| Copper | Variable around market spread | 40 | 10% |
| Gold | Variable around market spread | 0.3 | 10% |
| Palladium | Variable around market spread | 1.1 | 10% |
| Platinum | Variable around market spread | 1.4 | 10% |
| Silver | Variable around market spread | 2 | 10% |
| XAU/USD | Capped variable | 0.45 | 5% |
| XAU/AUD | Capped variable | 0.61 | 5% |
| XAU/CHF | Capped variable | 0.61 | 5% |
| XAU/EUR | Capped variable | 0.61 | 5% |
| XAU/GBP | Capped variable | 0.61 | 5% |
| XAU/JPY | Capped variable | 0.61 | 5% |
| XAG/USD | Capped variable | 0.03 | 5% |
| Market Name | Pricing | Typical Spreads | Margin from |
|---|---|---|---|
| Copper | Variable around market spread | 40 | 10% |
| Gold | Variable around market spread | 0.3 | 10% |
| Palladium | Variable around market spread | 1.1 | 10% |
| Platinum | Variable around market spread | 1.4 | 10% |
| Silver | Variable around market spread | 2 | 10% |
| XAU/USD | Capped variable | 0.45 | 5% |
| XAU/AUD | Capped variable | 0.61 | 5% |
| XAU/CHF | Capped variable | 0.61 | 5% |
| XAU/EUR | Capped variable | 0.61 | 5% |
| XAU/GBP | Capped variable | 0.61 | 5% |
| XAU/JPY | Capped variable | 0.61 | 5% |
| XAG/USD | Capped variable | 0.03 | 5% |
*These products have out-of-hour spreads that are wider than the minimum spread. View the Market Information Sheets in the desktop platform for details.
Last Updated:
| Market Name | Spread pricing | Min. spread | Trading Hours |
|---|---|---|---|
| UK Crude Oil | Fixed | 5 | 10% |
| US Crude Oil | Variable around market spread | 0.04 | 10% |
| Heating Oil | Variable around market spread | 40 | 10% |
| US Natural Gas | Variable around market spread | 18 | 10% |
| Market Name | Pricing | Typical Spreads | Margin from |
|---|---|---|---|
| UK Crude Oil | Fixed | 5 | 10% |
| US Crude Oil | Variable around market spread | 0.04 | 10% |
| Heating Oil | Variable around market spread | 40 | 10% |
| US Natural Gas | Variable around market spread | 18 | 10% |
Commodity spreads may differ between FOREX.com platforms and MetaTrader 4.
**For retail clients. View Professional Client rates
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