The dollar traded mostly lower ahead of the US midterm elections, losing ground on investor fear of the outcome for the Trump presidency. Most FX markets traded in narrow ranges awaiting the overnight results and the implications for the near term dollar trends. Global equity markets traded mostly sideways with no interesting news on the agenda as equity markets await the results from the US Elections. Oil traded lower for the 8 day in a row as investors face a oversupplied markets despite the Iran sanctions and exemptions made by the US government on S. Korea to continue and buy Iranian oil. Oil traded lower to close at 61.7$ per barrel, down 16$ from year highs 6 weeks ago.
US Midterm Elections, all day, and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday.
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