World shares swung higher and the Mexican peso surged more than two percent on Tuesday, as investors awarded the first US presidential debate to Democrat Hillary Clinton over Republican Donald Trump.
Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for US foreign policy, international trade deals or the domestic economy.
Snap polls after the debate suggested Clinton had bolstered her chances. She accused Republican Trump of racism, sexism and tax avoidance while the real estate tycoon, making his first run for public office, said Clinton's long years of service represented "bad experience".
For markets the clear winner was the Mexican peso. It surged 2.3 percent having hit an all-time trough in recent days on concerns that a Trump presidency would threaten Mexico's exports to the United States, its single biggest market.
"Markets started to call the debate for Hillary within the first 15 minutes or so, with the Mexican peso surging in what is probably its busiest Asian session in years," said Sean Callow, a senior currency analyst at Westpac in Sydney.
Europe was also digesting news that a referendum over Italian Prime Minister Matteo Renzi's flagship constitutional reform will be held on Dec. 4, with the fate of his administration likely to hinge on the outcome.
There was mixed news, meanwhile, for the European Central Bank as data showed loans to euro zone businesses dipped slightly in August despite its massive stimulus program.
Oil markets were also in flux as the world's largest producers gathered in Algeria to discuss ways to tackle a crude glut that has battered prices for two years now.
A source from Iran, where production is on the comebank after years of international sanctions, told Reuters it wanted 12.7 percent of any new OPEC output ceiling to help it reclaim its market share. Saudi Arabia has suggested it would need Iran to freeze its production for it to do the same.
Brent crude futures LCOc1 slipped 75 cents to $46.61 a barrel having jumped or 3.2 percent in the previous session. U.S. West Texas Intermediate (WTI) crude CLc1 which has seen a similar rise fell 60 cents to $45.80 a barrel.
Online betting companies shortened the odds on a Clinton win in the wake of the debate, leaving her as the clear favorite among punters.
A CNN poll of viewers, which the broadcaster noted was likely skewed somewhat to Democrats, showed 62 percent thought Clinton won the debate with 27 percent for Trump.