Dollar Also Sinks As Democrats Rack Up Wins

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US dollarexchange ratesDemocratic Partymidterm elections

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• Stocks and dollar drop as Democrats enjoy big early wins

  Asian stocks and the dollar fell on Wednesday as the Democrats built big early leads in the US midterm elections, aiming to take control of both the House and the Senate. The vote was seen as a referendum on Donald Trump's presidency, amid public anger over surging petrol prices, tariffs and the Iran war. The Democrats' capture of North Carolina brought them closer to overcoming the Republicans' 53-47 Senate majority, while Polymarket put their chances at 100 percent for the House and 99 percent for the Senate. Analysts warned that a divided Congress would mean little gets done, weighing on the dollar and Treasury yields, and Trump threatened to be 'Mr Veto' and block Democratic legislation. In Tokyo, the market lost more than three percent and chipmaker Kioxia plunged more than 13 percent as investors fretted over when AI spending would pay off.

  Yahoo Finance·04/11, 02:40▼ DXY▼ QQQ▼ SPYmidterm electionsDemocratic PartyUS dollar
• Asian FX gains as dollar falls on U.S. midterm results, yuan weakens on PBOC move

  Most Asian currencies strengthened on Wednesday as the dollar retreated amid uncertainty over U.S. midterm results, while the yuan stayed weaker after Beijing moved to curb its recent rally. The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.85%, its fifth increase this year and the highest level in 18 years, in a surprisingly divided 6-3 vote that fuelled expectations the tightening cycle may be nearing its end. The U.S. dollar index fell 0.5% to 101.34, the South Korean won gained 0.5% to 1,337.98 per dollar, and the yen strengthened 0.7% to 157.64 per dollar. Democrat Jon Ossoff won re-election in Georgia and Roy Cooper flipped a Republican-held Senate seat in North Carolina, while control of Congress remained uncertain, and the 10-year Treasury yield fell 4 basis points to 4.919%. Brent crude traded around $103.85 a barrel after falling about 1% to a near four-week low, as markets weighed diplomatic efforts to end the conflicts in Iran and Ukraine against the risk that further attacks disrupt supplies.

  Yahoo Finance·04/11, 04:25▼ DXY▲ AUD/USD▲ EUR/USD▲ GBP/USDUS dollarexchange ratesRBA
• US Dollar Mixed Early Tuesday Ahead, Eyes on Midterm ElectionsYahoo Finance·03/11, 12:42• DXYDXYUS dollarexchange rates
• Stock Market: Will S&P 500 Open Up or Down Today?

  U.S. stock futures point to a broadly lower open on Wednesday as Wall Street digests early midterm results showing key Democratic Senate victories and a shifting geopolitical landscape. The article's opening section introduces the Polymarket prediction platform, built on Polygon (CRYPTO: POL), but the text is cut off.

  Yahoo Finance·04/11, 05:57• SPYS&P 500midterm electionsDemocratic Party
• U.S. midterm elections in pictures: Democrats' sweeping victories deliver rebuke to Trump

  Democrats won sweeping victories in the U.S. midterm elections, flipping key Republican-held seats and projected to gain control of both chambers of Congress. In Texas, James Talarico defeated Ken Paxton to become the state's first Democratic senator since 1988, while Gina Hinojosa unseated Gov. Greg Abbott. In North Carolina, Roy Cooper flipped a Senate seat, while in Georgia Jon Ossoff won reelection and Keisha Lance Bottoms became the first Black woman elected governor of a U.S. state. In Ohio, Sherrod Brown defeated incumbent Sen. Jon Husted. The article describes the results as a referendum on Trump's second term, with voters concerned about cost of living, inflation and the war in Iran.

  CNBC·04/11, 05:53• SPYmidterm electionsDemocratic PartyDonald Trump
• Trump Claims GOP Would Have Won ‘Landslide’ With Him On Ballot — Analyst Sees ‘Absolute Bloodbath’ For AI Stocks

  President Donald Trump wrote on Truth Social that Republicans would have won 'in a landslide' had he been on the midterm ballot, as Democrats took Senate control and were projected to win the House. Overnight, SPY fell 0.8%, QQQ lost 1.2%, DIA slipped 0.5%, Trump Media (DJT) tumbled over 6% to $6.30, and index futures also declined. Democrats flipped Republican-held seats in six states, though final seat totals remain unsettled. World Trade Securities CEO Nicholas Mugalli warned of a 'bloodbath' for AI investors, citing possible tougher regulation of AI data centers in Texas, while economist Peter Schiff argued Democrats could become Trump's scapegoat if the economy deteriorates.

  Yahoo Finance·04/11, 05:49▼ NVDA▼ AMZN▼ GOOGL▼ METADonald Trumpmidterm electionsDemocratic Party

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• Breaking: State Bank of Vietnam wants to inject longer-term liquidity into the banking system via FX swap channel

  The State Bank of Vietnam (SBV) plans to supply nearly 48,800 billion VND to the banking system through a 182-day USD/VND swap, capped at 2 billion USD. For the Nov. 6 intervention, the spot buying rate is set at 24,399 VND/USD and the forward selling rate at 24,704 VND/USD, with a value date of Nov. 9, 2026. Credit institutions sell USD to the SBV for VND and commit to buy back the currency at maturity, and only those with medium- and long-term foreign loans or international bonds with at least 12 months remaining are eligible. The tenor is much longer than the 7-day swap in September, which helps banks plan VND funding more proactively into year-end and early next year. The move is part of broader SBV measures to support liquidity and lower funding costs, including its earlier request that banks cut deposit and lending rates.

  CafeF·04/11, 06:17▲ VNINDEXState Bank of Vietnamexchange ratesliquidity
• 5 Payment Stocks That Earn a Fee Every Time You Swipe

  The article compares five companies that earn fees on payments: Visa, Mastercard, American Express, PayPal and Capital One, distinguishing networks that only move payments from firms that also lend. Visa handled 74.2 billion transactions in the three months ended Sept. 30, up 10% year over year, with net revenue of $12.1 billion, up 13%. Mastercard's value-added services revenue rose 19% to around $4.1 billion, about 41% of net revenue. PayPal's payment volume reached $487.1 billion, up 6%, while its cut fell to around 1.58% of volume. Visa and Mastercard trade near 28 times analysts' 2027 earnings estimates, versus about 10 times for PayPal and 9 times for Capital One; the author says the two stocks he would choose are Visa and Mastercard.

  Yahoo Finance·04/11, 05:57paymentsVisaMastercard
• Oracle cancels $7 bln chip leasing deal with Tencent, FT reports

  Oracle has scrapped a $7 billion chip leasing contract with Tencent after increased pressure from the Trump administration, the Financial Times reported. The five-year lease, signed earlier this year, would have given Tencent access to as many as 100,000 advanced AI chips in data centers across southeast Asia, but it was canceled after U.S. officials raised concerns. Beijing also scrutinized the deal and asked Tencent to seek domestic chips. According to the FT, Nvidia has told cloud clients to sell at least 51% of their capacity to non-Chinese companies, while ByteDance and Alibaba still hold large chip leasing deals with U.S. providers. Oracle is a major supplier to ByteDance in Asia, with several data centers in Malaysia.

  Yahoo Finance·04/11, 05:52▼ NVDAOracleNVDAsemiconductors
• Ethereum dev targets 2028 for quantum resistance, a year early

  Ethereum Foundation researcher Justin Drake said he hopes to complete Ethereum's post-quantum and post-AI transition by December 2028, a year earlier than the foundation's previous December 2029 deadline. Speaking at Devcon 8 in Mumbai, Drake said developers have 24 months to deliver three additional network upgrades. He noted his remarks do not formally replace the roadmap, which is due for reassessment in January 2027. Other developers have questioned the timeline: StarkWare CEO Eli Ben-Sasson previously called the 2029 target 'too late' and warned deadlines could slip.

  Cointelegraph·04/11, 05:46▲ ETH/USDTEthereumcryptoquantum computing
• Nvidia China clients to get 1% of $70 bln RTX chips ordered- Bloomberg

  According to Bloomberg, major Chinese AI and cloud companies including Alibaba, Tencent and Bytedance ordered about 6 million of Nvidia's RTX Pro 5500 chips worth $70 billion. However, sources say they expect to receive only about ten thousand chips, roughly 1%, within the next four months. The muted expectations come as Nvidia struggles to expand production capacity to meet surging demand for its advanced AI chips, while data center buildout shows few signs of easing.

  Yahoo Finance·04/11, 05:31▼ NVDANVDAsemiconductorsChina
• New front leaves 32 countries at a disadvantage against Russia: Moscow 'builds a fortress' in the world's most dangerous region

  Writing in Frankfurter Allgemeine Zeitung (FAZ), journalist Julian Staib argues the Arctic is becoming a key arena of strategic competition, especially between NATO and Russia. Climate change is warming the region about 4 times faster than the global average, and melting ice could shorten the Rotterdam to Shanghai shipping route by about 15 days while opening access to resources. Russia treats the Arctic as a core security zone, with a nuclear submarine fleet on the Kola Peninsula and a multilayered 'fortress defense' system built up since 2015. According to the article, Russia's navy, air force and army within the Arctic Circle are larger by about 1/3 than NATO's forces in the same area. China, the US under President Donald Trump and the EU are also expanding their roles, while Finland and Sweden joining NATO has significantly shifted the strategic balance.

  CafeF·04/11, 05:23geopoliticsRussiadefense