Global Markets in Flux Amid Political Shifts

The global markets are facing shifts with the Republican Party seizing control of both U.S. congressional houses. Cryptocurrencies are soaring, while European and Asian markets face volatility. Key data on U.S. inflation and corporate performances are poised to impact investor decisions.

The global financial landscape is currently in a state of flux as President-elect Donald Trump's Republican Party is on track to secure dominance in both the U.S. House and Senate. This political shift has invigorated the so-called 'Trump trades', as expectations of tax cuts and deregulation mount.

Cryptocurrencies have witnessed a surge with Bitcoin nearing $90,000. In contrast, European markets are expected to open lower, affected by apprehensions over potential tariffs and external pressures on the euro and various Asian currencies.

Investor focus is intensifying on upcoming U.S. inflation data, which holds potential implications for Federal Reserve rate decisions, alongside key earnings reports from pharmaceutical front-runners like AstraZeneca amid uncertainties in the Chinese market.

(With inputs from agencies.)