The major currency pair continues growing in the middle of the week; investors are following the midterm elections in the USA.
EURUSD is intending to rise on Wednesday. The current quote for the instrument is 1.1463.
This morning’s “hot potato” is that the Republicans got the majority of seats in the Congress. At the same time, the Democrats swept into control of the House of Representatives. In fact, the balance of power in the US politics remained pretty the same, which is quite neutral for the currency market. The US President Donald Trump tweeted that these elections were a great success for the Democratic Party.
Having the majority in the House of Representatives, the Democrats will keep an opportunity to influence Trump’s decisions and the laws he proposes. For instance, the parties are highly likely to continue arguing about the White House’s activities in Saudi Arabia and North Korea. Discussions relating to anti-Russia sanctions might revive as well.
Investors need time to process and analyze all available information, but in reality, everything remained quite the same.
A bit later, investors will surely start paying attention to the macroeconomic statistics. In the afternoon, the Euro Area will report on the Retail Sales, which are expected to recover at least a little bit in September after plummeting the month before. In the evening, the USA are scheduled to publish the Consumer Credit in September.