Major global commodities, from oil and gas to metals and grains, fell on November 6 as the US dollar strengthened following Republican candidate Donald Trump's victory in the US presidential election.
According to data as of 8:00 p.m. (Vietnam time), crude oil prices have fallen more than 2% due to pressure from the USD's increase. Specifically, WTI oil traded at 70.16 USD/barrel, down 2.54% while Brent North Sea oil for January delivery also fell 2.34% to 73.76 USD/barrel.
Precious metals also fell, with spot gold falling 2.4% to $2,678.24 an ounce. Silver fell 3.8% and copper lost as much as 4.4%.
Following the general trend, prices of cereals such as corn and wheat flour also decreased from 0.16 - 1.62% in the ongoing trading session.
Commodity prices began to fall overnight on November 5 as traders began to assess the possibility of a Trump victory, which carries risks of trade tensions, economic disruption, oil supplies and policy reversals. The dollar index, which measures the greenback against a basket of major currencies including the euro and the Japanese yen, rose 1.63% to 105.04 early this afternoon Vietnam time, after earlier hitting a high of 105.19, a four-month high.
Meanwhile, global stocks were also affected by the US election results. Asian stocks reacted in mixed ways, with gains recorded in Japanese and Korean markets and declines in Chinese and emerging markets. European stock exchanges recorded slight gains, ranging from 0.15-0.8% in the morning session of November 6.
According to VNA
Source: https://doanhnghiepvn.vn/quoc-te/thi-truong-toan-cau-bien-dong-manh-sau-ket-qua-bau-cu-tai-my/20241106115340187
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