Financial markets began the week cautiously, focusing on currency movements ahead of the closely contested U.S. presidential election.
The dollar experienced a decline, especially after a poll indicated that Democratic candidate Kamala Harris had gained a surprising three-point lead in Iowa, bolstered by support from female voters.
This has contributed to a broader weakening of the dollar, with it falling 0.75% against the yen and 0.62% against the euro.
Meanwhile, stock futures in the U.S. turned positive, with the Nasdaq rising 0.42% and the S&P 500 gaining 0.27%.
Investor attention is also on the upcoming meetings of various central banks, including the Federal Reserve, Bank of England, and Reserve Bank of Australia, which are expected to make key monetary policy decisions this week.
In commodities, oil prices rose following OPEC+’s decision to delay a planned output increase, with Brent crude climbing by 1.57% and WTI rising by 1.73%. Gold prices also edged up slightly.
Overall, while markets are reacting to both political developments and central bank meetings, the uncertainty surrounding the U.S. election is likely to keep investor sentiment cautious in the coming days.
