Market wrap: sentiment a little firminr in US ahead of US election results today - Westpac

Analysts at Westpac noted that the sentiment was modestly negative in Europe but improved a little in the US. 

Key Quotes:

"Net movements in major markets were mostly small and the data calendar light. Today will be dominated by the results of the US midterm elections, starting from about 11am Sydney."

Key Quotes:

"EUR/USD ranged between 1.1390 and 1.1440, flat overall. The final October reports on Eurozone services (53.7) and composite (53.1) PMIs lifted from their ‘flash’ readings (53.3 and 52.7) on the back of improved outcomes in Germany and Spain. However, Italy’s slip to contraction (49.3) and the decline in overall confidence across the region highlight the risk seen in the orders components."

"AUD/USD round-tripped from 0.7215 to 0.7241 and back. NZD/USD similarly round-tripped from 0.6665 to 0.6684 and back. AUD/NZD slipped from 1.0845 to 1.0825."

"GBP/USD was volatile once again on Brexit headlines but ultimately firmer, up 0.4% on the day at 1.3095, the strongest G10 currency. USD/JPY rose from 113.10 to 113.50 – a one-month high."

"The US Job Openings and Labor Market Turnover Survey (JOLTS) showed some moderation in key labour market metrics but broadly continues to point to tight labour market conditions; the number of job openings eased back from record highs in September to 7.01mn (vs expectations at 7.09mn) while the quits rate, a gauge of employee confidence in job prospects, held steady at seventeen year highs of 2.4%."