Market Overview
• Markets remain cautious ahead of the US elections mid next week. Polls have Democrat Harris slightly in front.
• Upside movement in the Japanese Yen (JPY) could be limited surrounding the next governments makeup. Also of consideration is the Bank of Japan’s Rate hike plans. Japan’s finance minister is said to be closely watching Yen currency moves as the JPY trades on the backfoot Monday.
• Gradual easing of policy by the Fed holds up the greenback.
• Nasdaq closes at a record high of 18647.
• The German Chamber of Commerce expect the German economy to stagnate in 2025.
• Gold clocks a fresh all-time high of 2,774 an ounce amid US election uncertainty.
• The British Pound (GBP) has been the best performing currency this week with the Australian Dollar (AUD) the worst performer.