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The NZD is the strongest. The CAD is the weakest as the voting booths open in the US


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The USD is mostly lower (modestly) in early trading

The NZD, GBP and AUD are fighting it out for the strongest currency and the CAD is the weakest as traders enter for the day on midterm Election Day 2018.  The full House of Representatives is up for re-election.  In the Senate, 35 seats are up for re-election. The pundits have the Dems retaking control of the House, while the Senate remains in the GOP hands.  The election results, won’t start coming in until the polls close – with a few at 6 PM ET, and more at 7 PM ET and then rolling toward the west coast results over the next 3 hours.   The USD is mostly lower in early trading today.  
 The volatility is mostly contained. The GBPUSD has the largest trading range at 69 pips but the rest of the major currency pairs vs the USD are at 35 pips or less.  That is not a lot and well short of the 22 day averages for the pairs (red line in the lower chart below). 

A snapshot of other markets is showing:

  • Spot gold is up $3 or 0.25% at $1234.59
  • WTI crude oil futures are down $-0.17 or -0.27% at $62.95
  • Bitcoin on Coinbase is up $8 at $6408 and trading in a narrow $62 range. 

In the pre-market, US stocks are lower:

  • S&P is lower by -3 points
  • Nasdaq is lower by -9.5 points
  • Dow is lower by -15.7 points

In European markets, major indices are lower:

  • German Dax, -0.4%
  • France’s CAC -0.5%
  • UT FTSE -0.9%
  • Spain’s Ibex, -0.8%
  • Italy’s FTSE MIB -0.2%

In the US debt market, yields are marginally lower:

In the 10 year benchmark yields for European debt, yields are mostly higher:

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