Voting in the US has concluded, and the focus has now shifted to vote counting. With nearly 80 million ballots already tallied, Donald Trump holds the lead and is performing slightly better than many had projected. Although there is a long way to go, traders are responding to early signs that Trump will progressively become more difficult to beat if the current trends continue for much longer. However, whether one can trust the early polling results and the market reaction is debatable. The vote tally is often subject to significant change later on when swing states report their results. Therefore, major news outlets continue to describe the US elections as “too close to call”, although this will likely change over the coming day.
Closer to home, political developments are also reaching a boiling point in Mozambique, which are worth monitoring. Protesters in Mozambican border town Ressano Garcia – close to the Komatipoort border crossing – have seized trucks to block the N4 highway. The highway is a crucial export route for South African metals, meaning the political unrest in Mozambique could begin to take a more significant toll on the South African economy. Mozambique has been gripped by turmoil since the October 9 elections, where the ruling party secured power for the 49th year. Runner-up Venâncio Mondlane called the results fraudulent and urged protests, which led to the deaths of at least 11 people last month. Mondlane, who fled the country, is planning a dramatic homecoming to lead a march on Maputo later this week, leading to fears of more bloodshed.