Torus Group, known for its strong portfolio in measurement for metal and rigid packaging in the food and beverage industries, has recently expanded into plastic packaging and medical devices.

China-based Construction Machinery and Equipment (CME) with the data from earlier this week. In October China's excavator sales are estimated to have reached 16,791 units:

• that's +15.1% y/y

More notably, excavator sales in the Chinese domestic market are estimated at 8,266 units

• +21.6% y/y
• Excavator sales to the export market +9.46% y/y

For the January-October 2024 period this year, China's excavator sales are estimated to have increased by 0.47 percent year on year

• domestic market +9.8% y/y
• export market -7.41% y/y

Is this a sign of green shoots for the economy in China?

There has been plenty of stimulus announcements, that the market has been disappointed with. But, are thye having an impact?

What we know so far

As of 7:00 a.m. UTC, most data providers, including ABC, CBS, NBC, and CNN, projected that Donald Trump would become the next president of the United States. However, even as Trump’s victory looks almost guaranteed at this point, it is the balance of power in the U.S. Congress that will determine how successfully and effectively the next president will be able to govern.

So far, Republicans have won an extra seat in the Senate, but neither of the parties has a clear advantage in the battle for the House of Representatives. Overall, the counting of votes is still at a relatively early stage, and it could be hours or even days before a final outcome is known. The contest will come down to seven swing states, only three of which (North Carolina, Georgia, and Pennsylvania) have been most likely won by Trump so far. Still, judging by the latest market reaction, it appears reasonable to infer that global investors are pricing in a decisive victory by Donald Trump.

What has been the impact so far

As of 7:00 a.m. UTC, the global markets were positioned for Donald Trump’s victory. U.S. Treasury yields and U.S. stock benchmark indices rallied sharply, pushing the U.S. Dollar Index (DXY) higher. Given that, it is no wonder other major fiat currencies plunged, with EURUSD and GBPUSD down 1.82% and 1.32%, respectively, while bitcoin hit a new all-time high of $75,410, as per Coinbase.

'Such a dramatic shift in market sentiment is explained by Trump’s official policies, or more precisely by the possible effect these policies are likely to have,' says Kar Yong Ang, a financial market analyst at Octa Broker. 'Generally, it all boils down to Trump's tax, immigration, and trade policies, which differ greatly from what Harris proposed. The market perceives them as inflationary, which is why we are seeing a bullish impact in the U.S. dollar.'

The United States controls the world's primary reserve currency, the U.S. dollar, so only a few countries will not feel the effect of the latest U.S. presidential and congressional elections. Major currencies are already experiencing the initial impact. 'Major currencies are falling predominantly because the U.S. dollar is rising, but there is also a fear that Trump's policy on tariffs may hit their domestic economies,' Kar said.

Indeed, the primary reason for such a dramatic decline in EURUSD, for example, is that investors fear that Trump's policies on immigration and taxes will spur inflation and force the Federal Reserve (Fed) to tighten its monetary policy. This may expand the interest rate differential between the two economies, favouring the greenback. In addition, Trump has repeatedly threatened to impose tariffs on certain European goods like autos and chemicals. According to some analysts, Trump's proposed 10% universal tariff on all U.S. imports may erode Europe's GDP by up to 1.5% or about €260bn.

A similar kind of impact may await the United Kingdom, where Trump's blanket tariffs would hit billions of pounds of U.K. automotive, pharmaceutical, and liquor exports. It stands to logic that GBPUSD was down more than 1.3% today.

For similar reasons, CNYUSD (Chinese renminbi / U.S. dollar spot rate) hit a 3-month high. 'For the Chinese economy, the risks are even greater, as Trump promised to impose higher tariffs on Chinese goods. On top of that, under his administration, tensions are likely to grow over the CNYUSD exchange rate,' comments Kar Yong Ang, a financial market analyst at Octa Broker. Although the currency policy of the future Trump Administration is unclear, in his interview with Bloomberg, he had this to say: ‘We have a big currency problem because the depth of the currency now in terms of strong dollar / weak yen, weak yuan, is massive.

Interestingly, the impact on the gold market has been relatively muted so far. As of 7:00 a.m. UTC, XAUUSD was down 1.2%, but historically, it is not a significant swing, especially given how much the U.S. dollar has strengthened. 'Because Trump's victory appears to be decisive, it lowers the probability of social tensions in the U.S., which is not a minor factor considering how fractious U.S. politics has become lately. Thus, XAUUSD is selling off, but I think there are bullish risks ahead as relations between China and the U.S. turn bitter,' comments Kar Yong Ang.

Indeed, Donald Trump will likely heighten the Sino-U.S. trade tensions, which is a positive factor for gold in general. In addition, Trump's massive tax cuts will likely expand the U.S. fiscal deficit and may turn some strategic investors away from the U.S. dollar and into gold and bitcoin. In fact, BTCUSD hit a new all-time high on the news of Trump's potential victory. He is seen as more actively supportive of cryptocurrencies than Harris.

In the short term, all the bullish dollar trades may temporarily reverse as traders buy the dips in EURUSD and GBPUSD in hope of a technical rebound. In the long term, however, the bearish pressure on these pairs will likely persist.

About Octa

Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

Since its foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.

Following his win in Pennsylvania and earlier victories in other key battleground states in Georgia and North Carolina, Republican candidate Donald Trump took to the stage shortly after in Palm Beach, Florida.

Trump is set to become the 47th President of the United States (US) as he took an early victory lap on stage and expressed gratitude to his family, friends and team. Interestingly, alongside Grover Cleveland – the first Democrat elected following the Civil War – Trump is the second president to serve for a second non-consecutive term for four years.

In a surprising turn, Trump’s victory speech was relatively subdued; no threats of tariffs were mentioned, and he did not refer to his opponent, Democratic candidate Kamala Harris, who postponed her scheduled speech at Howard University. ‘Winning the popular vote was very nice’, Trump said in his speech, adding: ‘America has given us an unprecedented and powerful mandate; we have taken back control of the Senate’.

Several members of Trump’s team and friends were invited to speak on stage. His running mate, JD Vance of Ohio, thanked Trump for allowing him to ‘join you on this incredible journey’. Vance added, ‘I think we just witnessed the greatest political comeback in the history of the United States of America’.

Dana White, the CEO of the Ultimate Fighting Championship (UFC), also addressed the nation, stating, ‘Nobody deserves this more than him [Trump]’. He remarked that Trump ‘is the most resilient man I have ever met’.

Elon Musk, CEO of SpaceX and Tesla, also received significant praise from Trump, voicing his appreciation and calling Musk a ‘super genius’, emphasising that ‘we have to protect our geniuses’. Musk has been vocal in his support for Trump and reportedly invested over US$130 million in his campaign.

Foreign leaders applauded Trump for his victory. UK Prime Minister Keir Starmer congratulated Trump and said he looks forward to collaborating with Trump in the years ahead. India's Prime Minister Narendra Modi took to the platform X to convey his wishes as well, emphasising his desire to strengthen the partnership between the two countries. Additionally, Israeli Prime Minister Benjamin Netanyahu described Trump's win as ‘history's greatest comeback’ in his post on X.

What Does Donald Trump’s Victory Mean for the US?

Donald Trump will be inaugurated on 20 January 2025 at the US Capitol building in Washington, DC. Americans can expect tax cuts, immigration controls and tariffs.

A Trump presidency will also likely mean lower taxes, a move with plans for widespread changes to taxation, which should increase spending and spur sentiment, at least in the near term.

In his own words, Donald Trump’s second term is expected to be ‘nasty a little bit at times, and maybe at the beginning in particular’. Trump has promised an aggressive approach towards illegal immigration in the US, which could include plans of mass deportation of undocumented migrants, noting that he ‘will launch the largest deportation program in American history to get the criminals out’.

Trade tariffs are another one of Trump’s policies that the US economy can expect, as he is expected to increase the protectionist policies he introduced in his first term. However, as noted, he failed to address this in his victory speech today.

Another important issue that Trump and the team must address is the debt ceiling (or debt limit), which is the maximum amount of money the US Treasury can borrow to pay its debt obligations. You may recall that the ‘statutory debt ceiling’ was suspended in early January and is due to be reinstated on 1 January 2025. This may involve the Treasury drawing on its existing cash to fulfil its short-term obligations until another suspension of the debt limit is imposed or the debt ceiling is further increased.

Trump Trade is Alive and Kicking

Markets responded as expected, reigniting the Trump Trade, with the US dollar (USD), US Treasury yields, US equities and digital currencies all catching a strong bid.

Despite moderately fading session highs, the US Dollar Index is up 1.5%, which could eventually see the Index aim for June peaks at around 106.13, closely followed by 106.52, the high for the year. US Treasury yields remain underpinned, with the benchmark 10-year yield holding near session highs around 4.42% (up 3.5%).

While commodities experienced a selloff, we have seen a modest recovery unfold, drawing spot gold (XAU/USD) and WTI oil off session lows. In the crypto space, versus the USD, Bitcoin clocked a fresh record high of US$75,415 (up 6.4%), and Ethereum is up nearly 9.0% and testing the upper boundary of a symmetrical triangle, pencilled in from US$2,062 and US$2,790.

WASHINGTON, D.C. – RaMona Alexander, vice president and general manager of WDBD, and Dan York, president and chief executive officer of Cox Media Group (CMG), were appointed to the NAB Television Board of Directors, and Rob Babin, senior vice president, head of radio for CMG, was appointed to the NAB Radio Board of Directors, effectively immediately. The appointments were made by NAB TV Board Chair Emily Barr and NAB Radio Board Chair Dave Santrella, respectively, in accordance with NAB bylaws.

WASHINGTON, D.C. – The National Association of Broadcasters (NAB) today announced the launch of “Voices From the Field,” a new digital campaign highlighting stories of local broadcasters through first-person accounts. The campaign, part of NAB’s “We Are Broadcasters” initiative, will spotlight how broadcasters are using their expertise, experience and dedication to local broadcasting to serve their audiences and uplift their communities.

WASHINGTON, DC -- Twenty-five members of the House of Representatives and six Senators have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 112 cosponsors in the House and 14 in the Senate.

WASHINGTON, D.C. -- Ten members of the House of Representatives and four Senators have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 169 cosponsors in the House and 22 in the Senate.

WASHINGTON, D.C. -- In response to an order by the Federal Communications Commission setting regulatory fees for Fiscal Year 2021, the following statement can be attributed to NAB Senior Vice President of Communications Ann Marie Cumming:

Washington, D.C. -- David Griffin, president and CEO of Griffin Communications, has been named to the National Association of Broadcasters (NAB) Television Board of Directors by Television Board Chair Perry Sook in accordance with NAB by-laws. The appointment is effective immediately.

WASHINGTON, D.C. -- Eleven members of the House of Representatives and two Senators have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 198 cosponsors in the House and 24 in the Senate.

WASHINGTON, D.C. – Nick Radziul, senior vice president of Distribution and Government Affairs for Hearst Television, has been named to the National Association of Broadcasters (NAB) Television Board of Directors by Television Board Chair Perry Sook in accordance with NAB by-laws. The appointment is effective immediately.

WASHINGTON, D.C. – Bobby Caldwell, owner and CEO of East Arkansas Broadcasters, has been appointed to the National Association of Broadcasters (NAB) Board of Directors by Radio Board Chair Bill Wilson, in accordance with NAB by-laws. The appointment is effective immediately.

Washington, D.C. -- The 2022 NAB Show will explore the latest technologies and techniques reinventing the storytelling process through special sessions, deep dive examinations and panel discussions. Content creators will gain exclusive insight into the creative choices and innovations behind recent hit film and television productions during NAB Show, held April 23–27 in Las Vegas, Nev.

Washington, D.C. -- NAB Show attendees will navigate a convention floor featuring some of the world’s leading brands and companies, as well as first-time exhibitors and innovation zones showcasing the most cutting-edge advancements changing the broadcast, media and entertainment industries. The 2022 NAB Show will run April 23–27 at the Las Vegas Convention Center (LVCC).

Washington, D.C. -- NAB Show the world’s largest annual conference for broadcast , entertainment and technology professionals, will host attendees from 154 countries and exhibiting companies from 38 nations at the 2022 NAB Show, held April 23 – 27 in Las Vegas, Nev.

WASHINGTON, D.C. -- The National Association of Broadcasters (NAB) released a new NAB Podcast episode today featuring a discussion between NAB President and CEO Curtis LeGeyt and Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell about the importance of emergency preparedness. Their conversation highlighted how broadcasters help disaster relief agencies prepare, inform and serve local communities during this year’s hurricane and wildfire seasons.

WASHINGTON, D.C. -- In response to the Federal Communications Commission's proposed regulatory fee rates for Fiscal Year 2022, the following statement can be attributed to NAB President and CEO Curtis LeGeyt:

Washington, D.C. – Two-time Emmy Award-winning talk show host, journalist, producer and author Tamron Hall has been appointed to the National Association of Broadcasters Leadership Foundation (NABLF), NABLF Board Chair Darrell Brown announced today. In addition, Hall will serve in the newly created position of industry ambassador, working with NABLF on campaigns and fundraising efforts to help shape the future of the Foundation.

WASHINGTON, D.C. -- Catherine Badalamente, president and CEO of Graham Media Group, and Phil Tahtakran, SVP, Head of Federal Government Affairs for NBCUniversal, were appointed to the NAB Television Board of Directors, and Kevin Godwin, SVP for Townsquare Media, was appointed to the NAB Radio Board of Directors, effective immediately. The appointments were made by NAB TV Board Chair Perry Sook and NAB Radio Board Chair Bill Wilson, respectively, in accordance with NAB bylaws.

Washington, D.C. -- PILOT, the innovation arm of the National Association of Broadcasters (NAB), today announced it is conducting a program with support of the Google News Initiative to improve direct-to-consumer audience engagement to better serve local audiences. The six-month program is designed to support broadcaster education as well as the implementation of first-party data and direct-to-consumer business models.

WASHINGTON, D.C. - In response to the Federal Communications Commission's Fiscal Year 2022 Regulatory Fees Report and Order, the following statement can be attributed to NAB President and CEO Curtis LeGeyt.

WASHINGTON, D.C. – Steve Haro, executive vice president for government affairs for TelevisaUnivision, has been appointed to the National Association of Broadcasters (NAB) Television Board of Directors by Television Board Chair Perry Sook in accordance with NAB by-laws. The appointment is effective immediately.

The 2022 NAB Show New York will showcase hands-on learning and interactive product discovery with more than 230 leading-edge companies, including 32 first-time exhibitors. NAB Show New York takes place October 19-20, 2022, at the Javits Center.

Washington, D.C. -- The NAB Show floor will feature some of the world's leading brands and companies, as well as first-time exhibitors and innovation zones showcasing the most cutting-edge technology advancements for media and entertainment. The 2023 NAB Show will run April 15–19 at the Las Vegas Convention Center (LVCC).

Washington, D.C. -- NAB Show will explore how the increasing adoption of advanced technology is revolutionizing immersive storytelling experiences in a Main Stage session open to all attendees on Tuesday, April 18 at 1 p.m. at the Las Vegas Convention Center.

WASHINGTON, D.C. -- Twelve members of the House of Representatives and one senator have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals the opposition of members of Congress to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 167 cosponsors in the House and 21 in the Senate.

WASHINGTON, D.C. -- Andy Alford, president, Broadcasting, Nexstar Media Group, Inc., and Tanya Vea, president and chief operating officer, Bonneville International Corporation, have been appointed to the National Association of Broadcasters (NAB) Television Board of Directors by Television Board Chair Pat LaPlatney in accordance with NAB by-laws. The appointments are effective immediately.

WASHINGTON, D.C. – In response to the Federal Communications Commission’s (FCC) Fiscal Year 2023 Regulatory Fees Report and Order, the following statement can be attributed to NAB President and CEO Curtis LeGeyt:

WASHINGTON, D.C. – The National Association of Broadcasters (NAB) and the Library of American Broadcasting Foundation (LABF) will host a webinar on the importance of documenting and preserving broadcast history for future generations. The webinar will air on August 23 at 2 p.m. from NAB’s state-of-the-art studio in Washington, D.C.

WASHINGTON, D.C. – Fifty-five leading-edge companies will exhibit for the first time at the 2023 NAB Show New York, held October 24-26 at the Jacob K. Javits Convention Center. NAB Show New York is the most efficient and diverse event experience on the East Coast where thousands of content economy professionals reconnect, reevaluate and rediscover ways to get more creative with new-to-market tech and existing tools through exhibits, conferences and networking events.

WASHINGTON, D.C. – Twenty senators have sent a letter to the Federal Communications Commission (FCC) urging the Commission to refresh its nearly decade-old proceeding examining the digital television streaming marketplace. The letter asks the FCC to solicit new public comments about virtual multichannel video programming distributors (vMVPD) and whether federal action is needed to ensure consumer access to local broadcast programming on online platforms.

WASHINGTON, D.C. – Entravision Communications President and Chief Operating Officer Jeffery Liberman has been appointed to the National Association of Broadcasters (NAB) Television Board of Directors by Television Board Chair Pat LaPlatney in accordance with NAB by-laws. The appointment is effective immediately.

Ray Quiñones has joined the National Association of Broadcasters (NAB) as director of Government Relations, effective today. Quiñones will report to Shawn Donilon, executive vice president of Government Relations.

WASHINGTON, D.C. – In response to the effort by Sens.Ted Cruz (R-TX), Edward Markey (D-MA) and Ben Ray Luján (D-NM) to pass the AM Radio for Every Vehicle Act in the Senate by unanimous consent, the following statement can be attributed to NAB President and CEO Curtis LeGeyt:

Washington, D.C. – PILOT, NAB's innovation initiative, is now accepting submissions for the 2024 PILOT Innovation Challenge through January 19. The program provides mentorship and promotion for winning proposals, along with an opportunity to exhibit at NAB Show in Las Vegas, April 13-17, 2024.

WASHINGTON, D.C. – The local commercial broadcast television and radio industry generates $1.23 trillion of Gross Domestic Product (GDP) and 2.52 million jobs through direct and stimulative effect on the American economy, found a new study by Woods & Poole Economics with support from BIA Advisory Services.

Washington, D.C.— NABiQ, the dynamic innovation sprint and creative networking event, is set to make a triumphant return for its third consecutive year promising an enhanced experience for industry professionals at the upcoming 2024 NAB Show, taking place April 13-17 (Exhibits April 14-17) at the Las Vegas Convention Center. Due to its in-person popularity among participants, NABiQ is expanding to include virtual challenges leading up to the Show.

Washington, D.C. - In a world where digital innovation is rapidly transforming traditional broadcast, media and entertainment industries, the creator economy has emerged as a driving force, reshaping the landscape and redefining how content is created, distributed and monetized. The Creator Lab is an exciting new addition to the 2024 NAB Show scheduled for April 13-17 (Exhibits April 14-17), at the Las Vegas Convention Center. This groundbreaking show floor experience includes interactive exhibits, expert panels, hands-on workshops and networking events that focus on creators, equipment, distribution channels and monetization techniques.

Jeanna Berge, iHeartMedia market president in Eau Claire, Wis. and Rochester, Minn., has been appointed to the National Association of Broadcasters (NAB) Radio Board of Directors by Radio Board Chair Collin Jones in accordance with NAB by-laws. The appointment is effective immediately.

Washington, D.C.— Shira Lazar, an Emmy-nominated leading voice around digital culture and emerging trends, will take center stage as the first host of NAB Show’s Main Stage, amplifying the experience for participants and the audience. The world's leading event for the broadcasting, media and entertainment industries, NAB Show brings together cutting-edge technology, creators and innovators in Las Vegas this April.

Washington, D.C.— With tens of millions of individuals worldwide engaged in the growing creator economy, NAB Show emerges as the central hub for networking, exploration and education within the evolving creator market. The 2024 NAB Show, slated for April 13 – 17 (Exhibits April 14 – 17) at the Las Vegas Convention Center, promises to empower creators with invaluable insights and opportunities. Leading the charge is renowned YouTube star, digital creator, filmmaker extraordinaire and multi-media innovator Casey Neistat, who will inspire creators to think outside the box and redefine their creative potential when he takes the Main Stage. Known for his signature "Do What You Can't" motto, Neistat will share his career journey, the unconventional choices that propelled him to success and offer actionable lessons on innovation and creativity.

Washington, D.C.— Captivating narratives, stunning visuals and life-like character interaction – artificial intelligence (AI) is disrupting traditional content creation and delivery. Leading AI and computer-vision researcher Dr. Hao Li will dive into the cutting-edge world of generative AI during his keynote presentation at the opening session of the 2024 NAB Broadcast Engineering and IT (BEIT) Conference, April 13 – 16 at the Las Vegas Convention Center.

Washington, D.C. – The National Association of Broadcasters (NAB) announced today that Gabriela Sibori has joined as senior director of Communications on the NAB Public Affairs team. Sibori will report to Alex Siciliano, senior vice president of Communications.

Washington, DC — From early-stage startups and edge-of-the-art media technologies to industry powerhouses debuting boundary-pushing products and technologies, a dynamic roster of nearly 1,300 exhibitors will present the forefront of innovation at the 2024 NAB Show in Las Vegas, April 13-17 (Exhibits April 14-17). With 65,000-70,000 attendees from 160 countries and 575 international exhibitors from 41 countries, NAB Show is the world’s largest marketplace featuring advanced technologies and solutions from the latest gear to generative AI to ATSC 3.0 and beyond, exploring the impact of the newest tech on storytelling, business models and society as a whole.

Today, the National Association of Broadcasters (NAB) announced the appointment of Nexstar Media Group, Inc., President and Chief Operating Officer Michael Biard to its Television Board of Directors, effective immediately. Television Board Chair Pat LaPlatney made the appointment in accordance with NAB by-laws.

Washington, D.C.— NAB Show New York, set for Oct. 9-10 (Education Oct. 8-10) at the Jacob K. Javits Convention Center, will energize the news and sports industries with the latest trends and technology. Held in the epicenter of live production, the event is perfectly timed as the broadcast, media and entertainment industry prepares for key moments such as the 2024 presidential election and the major fall sports seasons. Industry leaders will gather to explore key innovations and strategies reshaping how content is created, distributed and monetized in today’s fast-evolving media landscape.

Washington, D.C.— The National Association of Broadcasters (NAB) is gearing up for the highly anticipated 2024 NAB Show New York, taking place October 9-10 (Education October 8-10) at the Jacob K. Javits Convention Center. As the premier East Coast event for the broadcast, media and entertainment industry, the Show will feature hundreds of new products with 20 product launches and nearly 50 first-time Exhibitors displaying advanced solutions to meet the evolving needs of the industry. With Q4 being a critical buying season, this is a must-attend event for professionals finalizing year-end budgets and planning for 2025.