Stocks, currencies and commodities react to US midterm elections, oil tensions and crypto inflows as the evening session unfolds.

Global markets edged lower in the evening session as investors weighed the looming US midterm elections and fresh geopolitical tension in the Middle East. Treasury yields slipped modestly while risk assets such as equities and crypto showed mixed signals. Oil prices rose on reports of US strikes on Iran’s Qeshm Island, lifting gold’s appeal as a safe‑haven but keeping the metal under pressure. Currency moves were dominated by a dovish Australian rate hike and a strengthening Swiss franc against the euro.

Currencies and central banks

The Australian dollar fell after the Reserve Bank of Australia raised rates to 4.85% but was interpreted as a dovish move, leaving AUD/USD near 0.6965. Meanwhile, the Swiss franc continued its rally against the euro, slipping past the 200‑day moving average and drifting toward the May low of 0.9095. No major policy surprises were seen from other major central banks, keeping the FX landscape relatively quiet.

Gold and commodities

Gold slipped as oil prices climbed, reflecting investors’ shift toward energy‑linked risk assets ahead of the US midterms. Saudi Aramco reported better‑than‑expected third‑quarter profit, reinforcing the upward bias in crude. Oil prices rose after a US strike on Iran’s Qeshm Island, pushing Brent and WTI higher despite earlier diplomatic overtures.

Crypto

Crypto markets showed a modest rebound. Binance recorded a net inflow of $2.3 billion after restoring access to funds following a $6.3 billion hack, reversing a week of outflows. Bitcoin steadied around $76,900 after a dip, even as spot ETFs logged a $399 million outflow for the second day. The Liquid Network announced full Bitcoin backing after closing a $320 million exploit, signalling tighter security on the sidechain.

Stocks

Wall Street’s outlook was clouded by the prospect of a Democratic sweep in the US House, which could reshape fiscal policy and affect sectors from defense to healthcare. Apple shares slipped after a weaker‑than‑expected margin outlook, while Palantir fell 8% on earnings disappointment. A biotech focused on cancer therapies saw its stock double after trial successes, highlighting the continued impact of breakthrough drug news.

Key calendar events (next 24 hours)

• 15:00 UTC | USD JOLTS Job Openings – medium impact
• 15:16 UTC | USD Congressional Elections – high impact
• 16:00 UTC | CAD BOC Gov Macklem Speaks – medium impact
• 21:45 UTC | NZD Employment Change q/q – high impact
• 21:45 UTC | NZD Unemployment Rate – high impact
• 10:00 UTC | EUR Core CPI Flash Estimate y/y – medium impact
• 10:00 UTC | EUR CPI Flash Estimate y/y – medium impact

Related news

• Yen weakens as US midterm elections draw attention
• North Korea denies $6.3bn Binance hack, calls FBI finding a political provocation
• Gold price slips ahead of US midterm elections
• Australian dollar slips below 0.70 as RBA hike loses steam

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This article is compiled from international market news for information only. It is not investment advice.