Worry, apprehension and nervousness are increasingly surrounding trading at the opening of the week ahead of the big event that is about to begin.
Tonight, the presidential election event in the United States (US) will begin with all the people of the country going out to vote for their preferred candidate, either Kamala Harris from the Democratic party or former president, Donald Trump from the Republican representative.
Political analysts have begun to observe the mood of the election as yesterday's postal vote began which saw a slight advantage in favor of Harris for the unofficial results.
Investors will be more cautious today with the expectation of volatile market movements with various speculations.
In the New York session tonight, the US services PMI survey data for October will be published, but it is likely to have limited impact on the US dollar due to the focus on the upcoming election.
The US dollar on Monday's trading yesterday witnessed a strengthening of several major currencies in the New York session after showing off a decline in value in the previous session.
The leading indicators also showed mixed signals with the dollar index (DXY) falling to 103.60 points, the lowest for 2 weeks while the US 10-year treasury yield managed to reach 4.38% for a 4-month record high before retreating to around 4.30%.
With the focus on the election event, don't forget for investors to wait for the results of the FOMC meeting early Friday morning.
For the November meeting, the Federal Reserve (Fed) is expected to continue their policy easing measures, but with a smaller interest rate cut of 25 basis points compared to the 50 basis point cut last September.
