MARKET SUMMARY: TRADERS ARE EXTREMELY CAUTIOUS AND THE US ELECTIONS ARE IN THE SPOTLIGHT
Market Caution: Traders are cautious and markets are mixed due to uncertainty around the upcoming US presidential election.
US Election Focus: The election, featuring Kamala Harris vs. Donald Trump, is closely watched, with potential delays in results after Tuesday’s vote.
Impact on Stocks: Both US and European stocks dropped, with investors uncertain about how the election results will affect the economy.
Currency Market: The US dollar fell, pushing other major currencies up as traders remain cautious about election outcomes.
Gold Prices: Gold rose due to its status as a "safe haven" during uncertainty, also benefiting from the weaker dollar.
Oil Prices: Crude oil prices jumped after OPEC+ postponed its production increase to 2025, suggesting that oil cuts might continue longer, which boosted prices.
