U.S. elections do influence foreign policy and foreign policy does influence elections. The above video is an interesting discussion on this issue by Dr. James Lindsay, senior vice president, director of studies, and Maurice R. Greenberg chair at the Council of Foreign Relations hosted by the State Department's Foreign Press Center (FPC) on December 16, 2011.
The FPC is an excellent resource for following the U.S. elections. They have published a Schedule of the U.S. primaries, a Glossary of U.S. election terms, and a List of Frequently Asked Questions about U.S. Elections. You can even sign up for updates to their election publications and programs.
There are a many private websites that follow the elections as well. These include (this is just a sampling, not an endorsement) 2012 Election Central; Google's Elections Hub; ABC News OTUS; 2012 Presidential Candidates; USA Today; and CNN. [We welcome your suggestions. Please post them in the comments section.]