In Asian Equity Markets stocks inched higher on Wednesday as investors braced for U.S. inflation data due this week and awaited the results of the midterm elections that could signify a power shift in Washington. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.33 percent higher, while Japan’s Nikkei fell 0.16 percent and Australian stocks gained 0.58 percent. Over in China, the stock market fell 0.35 percent, with Hong Kong’s Hang Seng Index down 1.5 percent as producer prices fell for the first time since December 2020, underscoring faltering domestic demand amid COVID-19 curbs.

In Currency Markets the U.S. dollar edged higher in early European trade Wednesday, stabilizing after overnight losses amid uncertainty from the U.S. midterm elections and ahead of key inflation data later this week. The Dollar Index traded 0.1 percent higher at 109.625, after losing around 1 percent so far this week. Euro fell 0.1 percent to $1.0068, with the European Central Bank set to hold a non-policy setting meeting later in the session. Against the Japanese yen, the dollar rose 0.1 percent to 145.75. Sterling edged lower to $1.1532. Australian dollar fell 0.1 percent to $0.6495.

In US Equity Markets stocks ended higher on Tuesday during voting in midterm elections that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes. The S&P 500 climbed 0.56 percent to end the session at 3,828.13 points. The Nasdaq gained 0.49 percent to 10,616.20 points, while the Dow Jones Industrial Average rose 1.02 percent to 33,160.83 points. Of the 11 S&P 500 sector indexes, 10 rose, led by materials, up 1.72 percent, followed by a 0.92 percent gain in information technology.

In Commodities Markets oil prices fell more than $2 on Tuesday in choppy trading on growing worries about fuel demand as COVID-19 outbreaks worsened in top crude importer China, and jitters about the outcome of U.S. midterm elections. Brent futures for January delivery fell $2.56 to $95.36 a barrel, a 2.6 percent loss. U.S. crude fell 3.14 percent, to $88.91 per barrel. Spot gold rose 2.4 percent to $1,714.23 per ounce. Silver rose nearly 3 percent to $21.39 per ounce, its highest since late June. Platinum rose 2.1 percent to $999.13 while palladium gained 1.7 percent to $1,928.63.

In European Equity Markets stocks hit an eight-week closing high on Tuesday as investors hoped for a market-friendly outcome from the U.S. midterm elections, while Danish jewellery maker Pandora jumped on reporting better-than-expected quarterly sales. The STOXX 600 index closed up 0.8 percent after moving in a narrow range for most of the day, with technology and retail sectors at the forefront of buying. Shares of Adidas jumped 4.4 percent as Bjorn Gulden, head of Puma, is set to take the helm from Jan. 1.

In Bond Markets U.S. Treasury yields fell on Tuesday, moving within narrow ranges, as investors awaited U.S. inflation data that could show deceleration for October and ahead of a midterm elections outcome that may shift the current government dynamic. The yield on 10-year Treasury notes was down 8.6 bps at 4.1276 percent. U.S. 30-year Treasury yields were down 4.7 bps at 4.2661 percent. On the front end of the curve, U.S. two-year yields fell 5.2 bps to 4.6737 percent.