The markets were seen trading a bit subdued on Monday as investors brace for the U.S. mid-term elections due today. On the economic front, China’s Caixin services PMI was seen easing to 50.1 which missed estimates and was slower than 53.1 registered the month before.
In the Eurozone, the Sentix investor confidence index eased to 8.8 below estimates of 9.9. The services activity in the UK measured by Markit was also weaker at 52.2 for October.
The NY trading session saw the ISM non-manufacturing PMI easing to 60.3 which was higher than expected. However, the October’s print was a tad weaker from 61.6 measured the month before.
The RBA held its monetary policy meeting earlier today. As widely expected, the central bank left interest rates unchanged at 1.50%. The central bank is expected to leave its monetary policy unchanged at least into the first half of next year.
The European trading session kicks off with the German factory orders report. Data is expected to show that German factory orders fell 0.4% on the month following a 2.0% surge previously.
Markit’s final services PMI will be coming out later in the day. The Eurozone services PMI is expected to remain steady at 53.3.
The U.S. will be heading to the polls today for the mid-term Congressional elections. This is expected to bring some volatility to the markets.
Later in the evening, the overnight session will see the release of the quarterly employment report from New Zealand.