Golden Finance reports that the United States will begin its 2024 presidential election next Tuesday (November 5). Many major polls still show that Trump and Harris are in a dead heat. Data from the Commodity Futures Trading Commission (CFTC) shows that hedge funds and managers have accumulated $18 billion in long dollar positions ahead of the U.S. election vote. Currently, Wall Street strategists generally believe that Trump's promise to impose tariffs will support the dollar at least in the short term. Hedge funds and other speculative traders expect the potential impact of the election on the demand for safe-haven assets and the direction of tariffs will further boost the dollar. The market generally believes that Trump's proposal to lower corporate taxes will benefit corporate profits, so if he wins, it will lift U.S. stocks. In contrast, Harris's potential tax increase policies are seen as relatively bearish for the stock market.