There is only one focus today: the U.S. Election. It’s a close race, with polls showing a narrow split between Trump and Harris. The potential for a disputed result could extend the vote count for weeks, so prepare for a possible spike in volatility. Here are the key timelines:
1900 EST (2300 GMT) - Polls close in Georgia and five other states, partially in two more. U.S. TV networks are likely to begin making calls for less competitive states like Kentucky.
1930 EST (2330 GMT) - Polls close in three states, including North Carolina, where Harris hopes to end a Democratic losing streak dating back to 2008.
2000 EST (0000 GMT) - Polls close in Pennsylvania, 15 other states, and the District of Columbia, along with partial closings in Michigan and four others.
2100 EST (0100 GMT) - All remaining polls close in Michigan, with voting ending in Arizona, Wisconsin, and 12 other states.
2200 EST (0200 GMT) - Polls close in Nevada and two additional states, with partial closings in two more.
Outside of the election, the Australian dollar has been the largest mover after the RBA kept its key rate unchanged at 4.35%, emphasizing its focus on inflation. “The November SMP forecasts suggest it will be some time before inflation is sustainably in the target range and approaching the midpoint,” stated the Board, reinforcing the need to remain vigilant about upside inflation risks.
In other markets: Bitcoin rose 2.3% to $68,622.21; Ether rose 2.4% to $2,426.5; the yield on 10-year Treasuries opens at 4.29%; West Texas Intermediate crude opens at $71.75 per barrel; Spot gold remains steady at $2,740; and Cable is slightly down at 1.2980. Key data today includes U.S. trade figures and the ISM Services Index.
Stay tuned—the question remains, who will be the next President of the United States?
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