Here is what you need to know on Tuesday, November 3:
Financial markets cling to a cautious stance early Tuesday as focus remains on the midterm elections in the United States (US). In the second half of the day, the economic calendar will feature September Factory Orders and JOLTS Job Openings data from the US.
The US Dollar (USD) started the week under modest bearish pressure and the USD Index touched its lowest level in a month near 101.40 during the European trading hours on Monday. Later in the day, the Institute for Supply Management’s (ISM) better-than-expected Manufacturing Purchasing Managers’ Index (PMI) data helped the USD limit its losses. Moreover, the bearish action seen in Wall Street’s main indexes further supported the USD Index, which managed to erase a large portion of its daily losses to close marginally lower. Early Tuesday, the USD Index moves sideways in a tight…
