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Base metals on the back foot after Fed comments

November 6, 2020by Nicholas Kabaso0

With the domestic data card quiet yesterday, focus was centered on offshore developments. Although Donald Trump has already lost two court cases in Georgia and Michigan, he is planning to dispute the results in Nevada and will likely request recounts where margins are tight. Gradually the tide is turning against Trump. Although he will do everything in his power not to concede easily. In fairness, Biden has won the popular vote by a significant margin and the court cases being disputed would likely change very little of the final outcome. Trump’s actions ap-pear to be an effort to change the optics of his probable loss, but for the sake of broad-based acceptance, due process in dealing with his legal battles must be completed to reduce the prospect of any significant negative political fallout that might arise. Trump knows full well that the situation would’ve probably looked very different had the pandemic not hit and the economy was still strong, which might even embolden him to seek re-election in 2024.

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Nicholas Kabaso

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