A look at the day ahead in U.S. and global markets from Mike Dolan June kicks off with a series of big election results around the world - with big landslides unfolding for favoured candidates in Mexico and India - while Wall Street has perked up in a key week for the U.
S. labour market. The peso was slightly unnerved by the sheer scale of Claudia Sheinbaum's win in Mexico's presidential election, slipping to a five-week low ahead of Monday's open.
Mentored by popular outgoing leader Andres Manuel Lopez Obrador, former mayor of Mexico City Sheinbaum took an historic near 60% of the vote and the ruling coalition was on track for a possible two-thirds super majority in both houses of Congress - allow it to pass constitutional reforms without opposition. On the other side of the world, Indian shares set record highs, the rupee gained and bond yields dropped as exit polls indicated a decisive mandate and a third term for Prime Minister Narendra Modi. The polls showed Modi's Bharatiya Janata Party set to increase its 303 seats in the 543-member lower house and likely get a two-thirds majority - also enough to initiate amendments to the constitution.
South Africa's rand firmed a touch on Monday, with analysts expecting coalition negotiations to be the main driver after the African National Congress failed to secure a majority for the first time in 30 years last week - gaining as little as 40% of the vote in the final count. European Parliament elections are also due at the end of t.
