GBP/USD is trading at 1.2980, 0.53% up since the previous day’s close. The US Dollar (USD) is under pressure due to weaker Nonfarm Payrolls (NFP) data for October. The US Federal Reserve (Fed) is expected to cut its policy rate by 25 bps in November, with a 97% probability. The greenback edges lower as traders prepare for the US presidential election and Fed interest rate decision. Analysts expect Donald Trump’s immigration, tax cuts, and tariff policies to put upward pressure on inflation and Treasury bond yields.

GER30 index is trading near 19254, 0.09% up since previous day close. European shares were flat at the open on Monday, with losses in tech stocks offset gains in resources-linked shares. The pan-European STOXX 600 held firm at 510.73 points, with technology stocks down 0.6%. The focus now is on the U.S. presidential elections, with opinion polls too close to call a clear winner between Republican candidate Donald Trump and Vice President Kamala Harris.

GOLD is trading at 2736, 0.05% down since previous day close. Gold is extending its consolidation phase, according to RHB Retail Research’s Joseph Chai. Comex gold futures showed sideways movement, indicating market indecision. However, futures have not fallen below $2,700/oz to form a lower low pattern, indicating the precious metal’s bullish structure remains intact. RHB maintains a positive trading bias for gold, with nearest resistance at $2,800/oz.