EUR/USD. What will change with the coming to power of the new US President Joe Biden? Part 1.

analytics5fe84b9d061a6.jpg

2020 has become one of the most murderous years in the 21st century. Pandemic, record drop in global GDP, Brexit, and US elections. We believe that the elections in America can be put on a par with such events as the pandemic. The fact is that it was about Donald Trump in the election. We note once again that for many Americans this was not the Donald Trump-Joe Biden election, it was the Donald Trump-Not Donald Trump election. The world could already observe the same thing at the parliamentary elections in Great Britain when people voted for Brexit (conservatives) or against Brexit (everyone else). Thus, the fact that Donald Trump did not win the American elections very eloquently shows how satisfied American residents are with the policy of the current president. Trump lost by a wide margin. The difference in the final results of the vote was 7 million votes and 74 "electoral votes". In principle, the absolute majority of experts, political scientists, and journalists put on the fact that Trump will lose the election. We will not once again list all the merits of Trump, as in less than a month, the inauguration of Joe Biden will take place. And all Trump's attempts through the courts and the Senate to invalidate the election results look like "waving his fists after a fight". Trump lost and did not lose by a minimal margin, which could be attributed to small machinations, incorrect vote counting, and so on. 7 million votes can't be faked. At least in the United States. But along with all this, traders and readers have a question, what can Joe Biden offer the United States? Recall that Biden was Vice President under Barack Obama, so he is familiar with the duties of the president of the country. After all, 8 years of being Vice President is a colossal experience. Thus, Biden looks like a much more competent politician. Trump is a businessman to the core, who does not disdain any methods to achieve the goal. However, Americans and the media quickly realized that Trump's words should be divided by 8 or 28. Ratings of major analytical agencies about how many times a day Trump lies, making public statements or posts on social networks, is generally something unique. It is unlikely that this information will be contained in textbooks on American history. In general, over time, trust in Trump fell so much that his speeches began to be treated as an entertainment show. To be honest, we are still surprised at how Trump collected 74 million votes in the election.

However, let us go back to Joe Biden, who won the election solely thanks to Trump. In principle, we can judge what Joe Biden will be like as president of the country only from the election promises of the Democrat himself. The first and most important thing that Biden promised is a more attentive and serious attitude to the "coronavirus". One of the main complaints against Trump was his negligent attitude to the pandemic. It is Trump who is blamed by American doctors for constantly refusing to tighten quarantine and putting the economy above American lives. As a result, America remains in first place in the world in terms of the number of cases of the disease(at the moment, almost 19 million and 200 thousand new cases per day). Biden also promises to provide all Americans with a free vaccine against COVID-2019, free tests, and also return to the WHO, from where Trump brought the states with such pomp, accusing at the same time this organization of complicity with China, "because of which the whole world was enveloped by a terrible pandemic".

Biden also promised to strengthen the middle class in the United States, expand lending programs for small and medium-sized businesses, introduce new programs to provide money at no cost and raise the minimum wage for hired workers. The standard package of promises of the candidate from the Democratic Party, which is the complete opposite of Trump, who put above all the highest class of the population. Of course, Biden also promises to raise taxes for the rich (those who earn more than $ 400,000 a year) to raise additional funds.

The third problem that has emerged under Donald Trump is racism. Of course, you can not blame the US President for absolutely all the troubles, but when mass rallies and protests broke out across America because of the murder of George Floyd (and then another black man, who was also opened fire by white police officers), Trump again showed himself not at his best, intending to disperse the rallies with the help of the US army. And only the refusal of the head of the Pentagon stopped Trump from implementing this crazy plan, which is unclear what would have ended. However, Trump still sent special units to some particularly blazing righteous anger of the city special forces, which "put things in order" in the end. In any case, President Trump has failed to address the issue of racism and reassure the American community. Many note that under President Trump, the problem of racism has become much more acute. Also, Trump allowed some "racist statements" in his addresses and speeches. Also, do not forget how Trump treated female representatives. He never showed any respect for women, regularly insulting journalists who asked him the wrong questions, and there is nothing to say about the Speaker of the House of Representatives Nancy Pelosi. Trump constantly called her "crazy". Biden promises to eliminate racial and gender discrimination, as well as create a $ 30 billion investment fund to support businessmen belonging to sexual minorities.

analytics5fe8963269ec8.jpg

Trading recommendations for the EUR/USD pair:

The technical picture of the EUR/USD pair shows that it continues to move upwards in general, so now it is still recommended to consider buying the euro currency, even though there are no visible fundamental reasons for this. As long as the quotes are above the critical line, the prospects for the euro remain very good. On the lower charts, you should look for upward trends

The material has been provided by InstaForex Company - www.instaforex.com