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    Forex Market Analysis: Vance’s Business Ties Aid Trump 2024 Campaign

    July 16, 2024

    CURRENCIES

    EUR/USD:

    • Rides post-US CPI wave higher.
    • Challenges resistance zone between 1.0942 and 1.0960.
    • Bullish momentum might encounter resistance near 1.0916.

    GBP/USD:

    • Surges post-UK election and US CPI catalysts.
    • Risks overheating with RSI near overbought.
    • Faces potential resistance at 1.3142.

    AUD/USD:

    • Momentum slows due to weaker Chinese economy.
    • Fed’s potential rate cuts contrast RBA’s stance.

    STOCK MARKET

    Financial connections:

    • Vance’s venture capitalist background connects him to Silicon Valley and business sectors.
    • His relationships with investors like Peter Thiel and Steve Case have been pivotal.

    Career and political rise:

    • Vance’s early career in venture capital and his memoir, “Hillbilly Elegy,” boosted his national profile.
    • Launched Narya Capital to invest in states like Ohio.
    • Won the Ohio Senate seat in 2022 with significant financial backing.

    Trump’s choice:

    • Trump selected Vance as his running mate, citing his successful business career.
    • Vance’s connections and business acumen are expected to play a crucial role in the 2024 campaign.

    Past criticism and current support:

    • Vance was initially a Trump critic but has since become a staunch supporter.
    • His stance on Big Tech censorship aligns with Trump’s policies.

    Impact on campaign:

    • Vance’s business ties are anticipated to strengthen Trump’s campaign funding and strategy.
    • His influence is expected to be significant in shaping business and technology policies.

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