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Republican party gains control of US Senate in midterm elections

FXStreet (Łódź) - The US Republican party claimed a strong victory in the midterm elections on Tuesday, taking over control of the Congress by winning seven seats in the Senate and retaining power over the House of Representatives with a net gain of 11 seats.

Therefore, starting from January 2015, the Republicans will be in control of both chambers of the Congress for the first time in eight years. This is a setback for President Barack Obama who will have to struggle in his last two years in office to carry out his legislative agenda.

As for the impact of election results on the markets TradeTheNews.com team point out that they "generally saw little reaction to the midterm results, with S&P futures receiving a very slight 4-point nudge higher above 2,010."

Switzerland Consumer Price Index (MoM) meets forecasts (0%) in October

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US may not add to Petroleum Reserve even with Crude at three-year lows

The WTI Crude is trading near the levels last seen in Oct. 2011, despite which the White house appears in no hurry to take the advantage of the low prices and add to the Strategic Petroleum Reserve (SPR).
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