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US President Biden delivers Oval Office speech on shooting in Trump surge

US President Joe Biden addressed the nation from the White House on Monday, where he condemned all political violence and called for unity, according to CNBC.

Biden also said it was “time to calm things down,” pointing not only to the weekend attack on Trump but also the potential for election-year violence on multiple fronts.

On Saturday, former President Donald Trump was shot in the ear during his rally in Butler, Pennsylvania, in an assassination attempt. One bystander was killed in the attack, two others were seriously injured, and Trump was photographed with blood pouring from his ear.

Market reaction

Dollar advances amid risk aversion. At the time of writing, the US Dollar Index (DXY) was trading at 104.28, adding 0.19% on the day.

The feeling of risk FAQs


In the world of financial jargon, the two terms “risk-on” and “risk-off” refer to the level of risk that investors are willing to bear over the reference period. In a “risk-on” market, investors are optimistic about the future and are more willing to buy risky assets. In a “risk-off” market, investors start to “play it safe” because they are worried about the future and therefore buy less risky assets that are more certain to provide a return, even if relatively modest.


Typically, during periods of “risk appetite”, stock markets rise, and most commodities – except gold – also appreciate as they benefit from positive growth prospects. Currencies of countries that are major commodity exporters strengthen due to increased demand, and cryptocurrencies rise. In a “risk-off” market, bonds rise – especially major government bonds –, gold shines, and safe haven currencies such as the Japanese Yen, Swiss Franc and US Dollar benefit.


The Australian Dollar (AUD), Canadian Dollar (CAD), New Zealand Dollar (NZD) and minor currencies such as the Ruble (RUB) and South African Rand (ZAR) tend to rise in markets where there is “risk appetite”. This is because the economies of these currencies are highly dependent on commodity exports for growth, and these tend to rise in price during periods of “risk appetite”. This is because investors anticipate higher demand for commodities in the future due to increased economic activity.


The major currencies that tend to rise during periods of “risk aversion” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The Dollar, because it is the world’s reserve currency and because in times of crisis investors buy US government debt, which is considered safe because the world’s largest economy is unlikely to default. The Yen, because of increased demand for Japanese government bonds, since a large proportion are held by domestic investors who are unlikely to part with them, even in a crisis. The Swiss Franc, because strict Swiss banking legislation offers investors greater capital protection.

Source: Fx Street

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