On Thursday, the DOLLAR index dipped slightly in intraday trading, now trading near 93.40. Spot gold maintained its rebound trend, trading at $1908 / oz after earlier approaching $1,910 / oz. In an overnight turnaround in the US presidential election, two key swing states turned red to blue, putting Democrat Joe Biden within striking distance of the White House. With 264 electoral votes to Trump’s 214, Biden only needs six more to win the general election. Analysts’ expectations that a Biden victory would be followed by a massive infusion of stimulus money to ease the economic impact of the outbreak helped gold prices. On Thursday, investors will welcome interest rate decisions from the Bank of England and the Federal Reserve. The Bank of England may make a “big move” at this meeting. British media reported that the SCALE of QE of the Bank of England could reach 200 billion pounds. And even without action, the Fed’s interest-rate decision and Fed Chairman Colin Powell’s remarks are expected to spark market volatility.
The Trump campaign filed a lawsuit in Georgia accusing Biden of falling six votes short of victory
The Trump campaign filed a lawsuit in Georgia asking the state to suspend the vote count, the Associated Press reported Thursday. This is the third state to be sued by The Trump team, following suit against Pennsylvania and Michigan.
The Trump campaign announced legal action in Pennsylvania and Michigan on November 4 and demanded a recount in Wisconsin, according to the Associated Press.
In a statement, Trump’s deputy campaign director Jim Clark said they filed a lawsuit to suspend counting until the process was transparent enough for the Republican campaign to ensure it was fair and in line with the law. “Something terrible is happening in Pennsylvania,” Clark said in a statement. The Democrats are conspiring to deprive and dilute the Republican vote. President Trump and his team are working to stop this.”
“We won a big victory in Pennsylvania, but the Secretary of State of Pennsylvania just announced that ‘millions more votes to be counted’,” Mr Trump tweeted.
Republicans have already launched legal actions in Pennsylvania and Nevada to ensure better access for campaign observers to sites where votes are being processed and counted.
Andrew Bates, a biden campaign spokesman, said a legal challenge was not the way to win, and that Mr Trump was making a pointless exercise in demanding a recount in a backward state.
Mr Trump’s lead in Wisconsin and Michigan was briefly reversed by Mr Biden, and his lead in Pennsylvania has narrowed as mail-in ballots have been rolled out.
Earlier on November 4, Democratic presidential candidate Joe Biden captured Wisconsin, picking up the state’s 10 electoral votes. Later in the day, Biden won Michigan again, picking up the state’s 16 electoral votes, bringing his total to 264. In 2016, Trump defeated then-Democratic nominee Hillary Clinton in Michigan by 0.2 percent, the closest popular vote gain in the election.
Mr Trump has 214 electoral votes. Mr Biden has a clear lead over Mr Trump in Nevada, which has six electoral votes yet to be counted. The U.S. presidential election USES the Electoral College system, in which a candidate must win at least 270 of the 538 electoral votes.
“After all the votes were counted overnight, it became clear that we had won enough states to reach the 270 electoral votes needed to win the presidency,” Biden said Wednesday. I’m not here to announce that we’ve won. But when the votes are counted and I come here to report, we believe we are going to be the winner.” Biden also said more Americans than ever voted in this election, with more than 150 million people turning out to vote.
Among the states with undecided popular votes are Georgia with 16 electoral votes, Pennsylvania with 20, Nevada with six and North Carolina with 15.
Biden now has a narrow lead in the popular vote in Nevada and Arizona, according to NBC. Fox has credited The Arizona vote to Mr Biden. That means Biden would win just one more Nevada.
According to the latest news from CNN and other US media, counting is still going on in Nevada, and state election officials said further results will not be updated until the morning of November 5 local time (The evening of November 5 Beijing time). With the two candidates so close, Nevada officials said they would not release any further results until the morning of November 5 local time.
Former President Barack Obama received more than 69.49 million votes in the 2008 election, the highest total in U.S. history, according to CBS News. Before the polls close, Biden has already surpassed that threshold and is set to become the most popular U.S. presidential candidate in history.
This year’s election is also reminiscent of 2000. The 2000 US presidential election was one of the most tumultuous and tumultuous in history, and it made the news of the century.
November 7, after the us election to vote, this should be in 2 days announced the election results, but because of the presidential candidate is the outcome of the decision of the Florida recount results serious dispute, both sides by political competition development to the “court”, played more than 50 times the size of the case, from the district court, state courts, circuit court, has been playing to the Supreme Court, so that the election war spread, the United States up and down, the whole world is watching in Florida about chaos caused by vote.
Gold prices received a boost as the odds of a Biden victory increased, with spot bullion touching as high as $1,909.62 an ounce in early Asian trading. Mr. Biden is expected to pump in stimulus money to ease the economic impact of the outbreak. Gold is seen as a hedge against inflation and currency depreciation, which a massive stimulus could lead to.
According to the Sun, Finance Minister Sunnak will also announce an extension of staff leave plans until December 2, allowing funds to continue to be available in the most restrictive areas of the coronavelaw.
The Bank of England is assessing how negative interest rates would work in the UK if necessary. The Bank of England is said to be considering negative interest rates, The Daily Telegraph reported on Wednesday.
However, none of the economists polled by Reuters expected the Bank of England to move to negative rates immediately.
Mitsubishi UFJ noted that the bank of England had been expected to increase its bond purchases by £100bn even before the new lockdown was announced, with investors now focused on whether the bank was closer to negative interest rates if the outbreak intensified.
In addition to the final result of the US election and the Bank of England decision, investors will also be watching the Federal Reserve’s decision on interest rates on Thursday local time.
The FEDERAL Open Market Committee (FOMC) will release its interest rate decision at 03:00 Beijing time on Friday. Federal Reserve Chairman Colin Powell will hold a press conference at 03:30 Beijing time on Friday.
Markets expect the Fed to keep interest rates near zero. Analysts expect the Fed to continue to stress the need for fiscal stimulus at its meeting this week.
Fed officials said after their last meeting in September that interest rates were likely to remain at current levels until at least the end of 2023.
James Knightley, chief international economist at ING, said: “The Fed is likely to retain its dovish bias at Thursday’s FOMC meeting, promising to stand aside and provide more stimulus if necessary. We would expect to see them reiterate that fiscal policy is a more effective tool at the moment.”
Analysts said Mr. Powell was also likely to be asked again this week about the Fed’s assessment of inflationary pressures. Fed officials said in September that they would “keep inflation at just above 2 percent for some time in order for inflation to average 2 percent for some time”.