Biden wins 2020 US Election
After a tense week, Joe Biden is poised to become the 46th US president. Follow the market reaction:
- Biden secures electoral votes
- Senate seems likely to remain under Republican majority
- Trump continues to cast doubt on the count - follow market reaction
Will the markets believe in Biden?
Volatility may continue right up until inauguration day on 20th January, 2021 as several potential recounts loom and Trump challenges key swing states. Read our analysis on the post-election fallout and which markets to watch:
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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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