奥巴马正式宣布赢得总统大选之后，市场多方对美国货币宽松政策预期升温，各地股市、货币汇率及大宗商品价格也出现了一定的反应。

Obama officially announced the win after the presidential election,The market for American monetary easing expected warming,Stock markets around/Currency and commodity prices also appeared a certain reaction.

　　受到货币宽松政策刺激，昨日欧洲股市周三小幅高开，欧股风向标Stoxx600指数高开0.3%，报275.57点。主要区域指数中，英国富时100指数高开0.3%，报5900.08点。法国CAC40指数高开0.9%，报3510.40点。德国DAX30指数高开0.6%，报7472.12点。

By currency loose policy stimulus,European stock markets yesterday on Wednesday small high open,European shares vane Stoxx600 index high open 0.3%,To 275.57 points.Main area index,The ftse 100 index 0.3% high open,To 5900.08 points.The French CAC40 index high open 0.9%,To 3510.40 points.Germany DAX30 index high open 0.6%,To 7472.12 points.

　　同时，亚太股市表现亦是不俗，除日本股市小幅收低外，均实现收涨。韩国综合指数报1937.55点，上涨9.38点，涨幅0.49%；澳交所普通股指数报4534.17点，上涨30.42点，涨幅0.68%；新西兰50指数报3943.09点，上涨15.42点，涨幅0.39%；台湾加权指数报7287.18点，上涨50.50点，涨幅0.70%。恒生指数报22099.85点，涨155.42点，涨幅0.71%。日经225指数报8972.89点，下跌2.26点，跌幅0.03%。

At the same time,The asia-pacific stock market performance is also not common,In addition to the Japanese stock market small accept low external,All realize ended up.Korea composite index to 1937.55 points,Up 9.38 points,Or 0.49%;Macao into the common stock index to 4534.17 points,Up 30.42 points,Or 0.68%;New Zealand 50 index to 3943.09 points,Up 15.42 points,Or 0.39%;Taiwan weighted index to 7287.18 points,Up 50.50 points,Or 0.70%.The hang seng index to 22099.85 points,Up 155.42 points,Or 0.71%.The nikkei 225 index to 8972.89 points,Down 2.26 points,Fall 0.03%.

　　在货币领域，美元指数刷新时段低点至80.28，周三美元兑日元汇率轻微下滑至80.03，美元兑韩元汇率也有所下滑，1美元兑换1086.10韩元，澳元兑美元汇率达1.0424。油价下滑0.5%至每桶88.28美元。黄金价格跌了0.5%至每盎司1706.80美元。

On the monetary side,The dollar index refresh period low to 80.28,On Wednesday against the yen, the dollar exchange rate decline slightly to 80.03,The dollar exchange rate also won slipped,1 U.S. dollar to 1086.10 won,The dollar $1.0424.Oil prices fell 0.5% to $88.28 a barrel.Gold prices fell 0.5% to us $1706.80 per ounce.

　　分析指出，奥巴马的连任的确令市场预期美联储的货币宽松政策有望的到延续，提振市场信心，美股期货指数、大宗商品价格均在结果公布后应声走高，但乐观情绪能否得到延续，仍存在一定风险。其中，美国财政悬崖问题无疑是最大风险，同时，希腊援助问题仍存在高度的不确定性。

Analysis shows that the,Obama's reappointment indeed make the market expected the fed's monetary easing is expected to to continue,Boost market confidence,The us stock index futures/Commodity prices are results from answer go high,But the optimism can be continued,There still exists certain risk.the,The United States financial cliff problem will undoubtedly is the biggest risk,At the same time,Greek aid question remains high uncertainty.

　　至于奥巴马连任从而产生的对华贸易影响，多数分析认为，美国有望延续前期政策，总体中美贸易关系影响不大，但中美贸易冲突仍将持续。

As for Mr Obama reappointment resulting in trade with China in influence,Most analysis think,The United States is expected to continue the policy,Overall sino-us trade relations the impact is not big,But the sino-us trade conflict will continue.

　　专家观点

Expert view

　　中国社会科学院袁征

The Chinese academy of social sciences YuanZheng

　　对于未来四年中美经贸关系的发展，我持谨慎乐观的态度。造成中美贸易摩擦加剧的主因是美国经济状况欠佳和由此而生的贸易保护主义抬头。未来如美国经济状况转好，对华压力亦将随之减弱。

For the next four years the development of sino-us economic and trade relations,I cautiously optimistic.Sino-us trade friction caused by increasing main reason is the economic conditions and the consequent poor trade protectionism growth.The future such as the United States economy turned for the better,China will also pressure weakens.

　　复旦大学经济学院副院长孙立坚

Fudan university school of economics, vice President of the SunLiJian

　　奥马巴的当选，将继续强化就业问题，努力创造就业，推行医保改革，降低失业率，必然会导致贸易保护主义继续抬头，大宗商品价格的进一步上扬，人民币升值的压力在未来会进一步扩大。

Omagh and election,Will continue to strengthen the employment problem,Strive to create employment,Implementation of the medical insurance reform,Reduce unemployment,Will lead to trade protectionism continue to look up,Commodity prices to rise further,The pressure of appreciation of RMB in the future will be further expanded.

　　中信证券首席经济学家诸建芳

Citic securities chief economist ZhuJianFang

　　奥巴马连任美国总统，符合先前预期。中美贸易政策会更稳定，从全球角度来看，对于未来经济回升影响是积极的。奥巴马4年来作为美国总统对中国已经有充分的了解，其对华政策也会更稳定，具有连续性。一定程度上来说，中美贸易未来波动性不会太大。

Obama President of the United States re-election,Conform to the previous expected.Sino-us trade policy will be more stable,From a global perspective,For future economic rebound effect is positive.Obama four years as President of the United States to China has fully understand,Its policy toward China also will be more stable,Have continuity.For a certain extent,Sino-us trade future volatility is not too large.

　　长城证券研究总监向威达

The Great Wall securities research director to vectra

　　奥巴马连任美国总统，可能会加重中国制造业的困境，中国的出口可能面临更严峻的挑战。在其任期内，中国出口占美国进口的份额逐年下降，这对处于转型期的中国制造业来说，是 “雪上加霜”。

Obama President of the United States re-election,Could increase the plight of China's manufacturing industry,China's exports may face more severe challenges.During his tenure,China's exports of the United States imported share to drop year by year,This is in transition of Chinese manufacturing industry,,is "Add insult to injury".

　　社科院世政经研究所研究员宋泓

The academy of political and economic research institute researcher SongHong

　　奥巴马当选后，可能会把贸易政策往回调。在过去执政的四年里，奥巴马对中美经贸的体会已经比较深刻，所以今后中美之间会有更紧密的经贸合作，美国目前所执行的宽松政策将很好地延续下去。

After Mr Obama is elected,May the trade policy adjustment back.In the past four years in power,Obama for china-us economic and trade experience has deeper,So in the future there will be between China and the United States closer economic and trade cooperation,The United States currently to implement a loose policy will continue well.