Risks in the market are peaking at this time prompting investors to be cautious and may need to reduce current trading positions.
The main focus is now on the presidential election event taking place in the United States (US) to determine the country's new leader between Republican candidate Donald Trump and Democratic candidate Kamala Harris.
Americans flocked to vote when polling locations opened as early as 7am (8pm Malaysian time).
Throughout today (Wednesday), the market will follow the update of the results of the vote count which is expected to invite various reactions in addition to affecting the volatile market movements.
As of 9 a.m. local time, a number of precincts were known to vote in Indiana, Kentucky, Alabama, Florida and West Virginia in favor of Donald Trump.
Meanwhile, Kamala Harris dominates Maryland, Vermont, Connecticut and Massachusetts.
The impact on the currency market, the US dollar in trading in the New York session yesterday saw it moving weakly until the close of the session.
However, after the voting session ended in the Asian session this morning, the US dollar was seen to show a strong surge in value.
The situation of volatile price changes is expected to continue with continued speculation in the market.
The US service PMI data of the ISM survey published yesterday recorded a strong figure for October of 56.0 points, beating the previous reading, but failed to impact the movement of the US dollar.
The FOMC meeting will be the focus early Friday morning for the latest monetary policy decision by the Federal Reserve.
