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Trump's win will affect the world more than Brexit, Westpac

Trump's win will affect the world more than Brexit, WestpacWestpac analytics believe Clinton's win is more favourable for global markets.

Westpac said the outcome of a Trump's win will be a bigger deal than Brexit.

Westpac economists and strategists David Goodman, Richard Franulovich and Sean Callow said: “We believe a Trump win has larger long-term global ramifications than Brexit.”

“A Trump presidency would bring about the biggest changes in many decades in existing US arrangements on everything from taxation policy, to trade policy, social spending, immigration and geopolitics.”

“Longer term, our baseline view is that a Clinton win would be more supportive for both immediate and long-run US growth prospects and thus also equity markets,” Westpac added.

“The US dollar is likely to be higher in 2017 under a Clinton administration but should slip back near term against the likes of the Australian, New Zealand and Canadian dollars in response to a relief rally in risk assets. An aggressively protectionist trade policy is a key factor in our expectation that a Trump win would produce greater volatility and a weaker US dollar.”
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