Odaily News The United States will begin the 2024 presidential election next Tuesday (November 5), and many major polls still show that Trump and Harris are evenly matched. Data from the Commodity Futures Trading Commission (CFTC) show that hedge funds and managers have accumulated $18 billion in long positions in the U.S. dollar before the U.S. election. At present, Wall Street strategists generally believe that Trump's promise to impose tariffs will support the dollar at least in the short term. Hedge funds and other speculative traders expect that the potential impact of the election on the demand for safe-haven assets and the direction of tariffs will cause the dollar to rebound further. The market generally believes that Trump's proposal to reduce corporate taxes will be beneficial to corporate profits, so if he wins, it will boost U.S. stocks. Harris's potential tax increase policy is seen as relatively bearish for the stock market. However, Bank of America and Citi have recently expressed the opposite opinion. "Many positive possibilities for next week have been priced in, so the risk is biased to the downside," said analyst Marc Chandler. Gold recently hit a record high, but failed to break through $2,800. It is worth noting that when the U.S. stock market fell on October 31, gold also sold off sharply, almost as if it was liquidated to meet margin requirements." (Jin Shi)