Democratic sweep rattles the AI trade

Preview: Democratic Midterm wins hit stocks and the Dollar overnight, with eurozone CPI and US ISM services due today.

US midterms 2026: Investor Q&A on the Democratic sweep

1. Gridlock replaces the stimulus narrative. A Democratic Congress would constrain Trump's ability to pursue additional fiscal expansion and legislative tax measures. But it cannot simply reverse the president's entire economic agenda.

Japanese Yen trims gains as US Dollar recover from the post-election reversal

The Japanese Yen (JPY ) holds moderate gains against the US Dollar (USD) on Wednesday, but it has given back almost half of the ground taken following news of a sound Democratic victory in the US midterm elections.

Forex Today: US Dollar under pressure as Democrats take control of Congress

Here is what you need to know on Wednesday, November 4:

Euro: Strong data and vigilant ECB support EUR – BNY

BNY’s Geoff Yu argues that resilient Eurozone data and a vigilant European Central Bank (ECB) now underpin the Euro, prompting a dial-back of earlier bearish EUR/USD views.

CFTC clears ‘Equity Perps’ on individual US stocks

Perpetual futures on individual US stocks are deemed approved under Regulation 40.3, with CFTC Chairman Michael S. Selig framing the move as bringing the product onshore.

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Binance routes withdrawals through new wallets, but a tenth of the breach remains uncovered

Binance's updated Proof of Reserves shows new withdrawal wallets and reserve ratios above 100%, yet roughly 10% of breach-affected assets remain un-replenished by its own figures.

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ICE’s Hyperliquid perps deal is the first real test of the CFTC’s onshore perp pathway

ICE and Trade[XYZ] will build a regulated U.S. market for Hyperliquid-based perpetual futures, pending CFTC approval, with ICE taking a minority stake in Trade[XYZ].

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Binance reopens withdrawals Sunday with 90% of stolen crypto replenished

Binance says 90% of the stolen crypto is replenished and withdrawals reopen Sunday, 1 November, with full proof of reserves due 3 November.

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Fed holds rates at 3.75%-4% as two dissents back a hike and bitcoin hovers near $81K

The Fed held rates at 3.75%-4% in a 10-2 vote with Cook and Hammack dissenting for a hike; bitcoin slipped below $80,000 as markets priced a December move.

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