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Kansas has not sent a Democrat to the Senate since 1932, and Texas has not in over 30 years, yet both are projected to flip in a single night, so how did markets take it? As the votes came in, Democrats pulled ahead in the House and the Senate, and projections show the party taking control of both chambers, which also means a divided Washington, and analysts note that the prospect of gridlock was one reason the dollar weakened. Today our Beyond the Vote campaign brings its biggest boost so far: 60% spread cashback on eligible instruments, only today (UTC)! 🔗 simplefx.com/lp/beyond-the-… And the picture kept shifting within a few hours. Prediction markets had a Democratic win as the most likely outcome before election day, but the party did better than most forecasts, especially in the Senate and in several traditionally red states, which means even a widely expected result came with a surprise in its size. Final counts are still to come. Analysts also point to tech as the weak spot, since Democratic control may bring tougher regulation for AI and data center buildouts, and that is where the selling was heaviest. The result set off a big move across markets, and here is how the night played out on the 4 Nov daily chart (UTC): → US500 and US100: both back in the green on the daily candle, but the long lower wicks show how deep the overnight drop went, more than 1% on US500 futures and about 2% on US100 futures → Dollar: index at a 1-month low, EUR/USD up 0.4% → Gold: up more than 2%, back above $4,000 → BTC: dipped to about $75,700, then recovered near $78,500 Gold was among the biggest movers of the night, jumping about $100 in just a few hours as the dollar weakened and Treasury yields eased, which took it back above $4,000 after several days below that level. It was a large move across assets in a short time, and most of the selling in equities came while the votes were being counted, with a good part of it trimmed by the European morning, which is exactly what those long wicks on the indices reflect, so the US open at 14:30 UTC is where the story continues. Analysts at ING add that the dollar still follows the Fed more than it follows Congress, so the rate story keeps its place at the center.

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