According to the results of the preliminary elections, the Democrats have lost the elections to the US Congress. As a result, the Democrats are no longer in control of the situation in the Senate and the House of Representatives, Market Leader reports.
With that said, the Republicans has gained the total control over the US Congress for the first time in * years. On top of that, the Republicans managed to outperform the goals, thereby gaining 7 votes instead of the required 6 ones. Apparently, the Republicans’ victory is good news for the US stock market.
It should be noted the US stock market has been fairly positive since the news was revealed. According to the preliminary survey conducted among potential voters show us that the Republicans’ chances of winning the majority of seats in the Senate are huge.
According to experts, their actual victory may contribute to the creation of new investment opportunities in the USA. In particular, the new Senate is expected to back the domestic fuel industry, which is currently dominated by shale natural gas and fracking as opposed to alternative fuels.
Meanwhile, the US industrial production seems to be gaining value. According to the recent report published by the ISM for October 2014, the ISM Manufacturing index increased from 56.6 points up to 59 points over the reporting period. According to Bloomberg, analysts had expected the index value to come out at 56.2 points. Therefore, the index came out much stronger than expected.
Despite the fact that global markets have been seeing a slight slowdown lately, the US industrial production is still growing. The domestic demand in the local corporate and consumer sectors remains the major driving power. It should also be noted that the share of the industrial sector in the US economy is around 12%.
Forex: USD Index
Today, on November 10th , the US Dollar index is still trading within the scope of a long-term uptrend, indicating the overall strength of the American currency against a basket of 6 other majors. So far, the price hast hit another local high at 86,87, Masterforex-V Academy report.
According to the experts, the price has come close to the all-time high of 88,90. Still, it is too premature to consider a reversal. The trend will reverse only if the price breaks and consolidates below the bottom of the ascending MF sloping channel and pivot 85.248.
