A layman’s guide to the US Elections
In this article we outline basics of what you need to know in term of the upcoming US election.
When is the US election?
The US election will be held on the 3rd of November 2020.
When will we know the outcomes of the US election?
In the previous (2016) US election, the winner was known by the early hours of the next morning, although this was before the final votes had been tallied. However in the US, voting can be done at the polling stations or via a postal ballot, that is if permission is obtained and the relevant State allows. The onset of coronavirus has suggested that the number of postal ballots may be quite large and in turn officials have warned that the results of the elections could be delayed by a few days (even weeks in a worst case scenario).
Who will win the US election?
Early polling data is suggesting that Democrat representative Joe Biden is in the lead. Poll of polls data ( a median value of individual polls currently tracking the election), shows Joe Biden to currently be ahead of Republican Donald Trump with a 52% to 42% polling vote, as of the 14th of October 2020.
However, it should be noted that while a larger number of electoral votes may highlight the more popular candidate, it does not ensure the win (see 2016 elections for reference). In the US, the electoral vote is allocated to a state. There are 538 state votes of which 270 are needed to ensure victory. A larger state such as California may have 55 of the state votes, while a smaller state such as Wyoming may only have 3 votes.
So at this stage, while it does appear that Joe Biden is in the lead, the outcomes of the election are by no means a foregone conclusion.
What about the votes for US congress?
US voters will also need to select new members of Congress. Congress is responsible for the drafting and passing of law within the country and is made up of two chambers, namely: The House of Representatives and The Senate.
The Democrats currently have majority in the House of Representatives, while the Republicans currently have majority in the Senate.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only