In Asian Equity Markets stocks held recent gains but lost momentum on Tuesday as investors remained cautious ahead of the release of the U.S. inflation data and mid-term elections, which will determine control of Congress. MSCI’s gauge of Asia Pacific stocks outside Japan narrowed gains to rise 0.12 percent. Hong Kong’s Hang Seng index and China’s benchmark CSI300 Index both fell 1 percent in the afternoon sessions, wiping out morning gains. Australia’s S&P/ASX 200 ended the day 0.36 percent higher, lifted by financial companies. Japan’s Nikkei 225 gained as much as 1.44 percent.

In Currency Markets the dollar steadied during Asia trade on Tuesday after some of the momentum ebbed out of bets on China’s reopening, and as traders looked ahead to U.S. midterm elections. The growth-sensitive Australian and New Zealand dollars, carried along for the ride, also made falls of about 0.5 percent, leaving the Aussie at $0.6449 and the kiwi at $0.5916, after earlier touching a seven-week high of $0.5951. The Japanese yen hit a one-week high of 146.35 per dollar. Sterling, which rose on Monday, was 0.2 percent weaker at $1.1490.

In US Equity Markets stocks ended sharply higher Monday as investors focused on Tuesday’s midterm elections that will determine control of Congress, while shares of Meta Platforms jumped on a report of job cuts at the Facebook parent. The S&P 500 climbed 0.96 percent to end the session at 3,806.90 points. The Nasdaq gained 0.85 percent to 10,564.52 points, while the Dow rose 1.31 percent to 32,827.00 points. Meta Platforms Inc jumped over 6 percent following a report that the company was planning to begin large-scale layoffs this week.

In Commodities Markets oil prices fell on Monday, paring gains after rising to more than two-month highs, on mixed signals over China, the world’s top crude importer, potentially relaxing its strict COVID-19 restrictions. Brent crude futures fell 65 cents to settle at $97.92 a barrel. U.S. West Texas Intermediate crude fell 82 cents to settle at $91.79. Spot gold was little changed at $1,676.24 per ounce. Spot silver fell 0.1 percent to $20.81 per ounce, platinum rose 1.8 percent to $977.96, while palladium was up 1.6 percent to $1,891.39.

In European Equity Markets stocks closed on Monday at a more than seven-week high as a jump in travel and technology stocks helped outweigh a drag from China-exposed luxury giants. The benchmark STOXX 600 index rose 0.3 percent. Gains in Flutter Entertainment Plc and Ryanair, up 4.2 percent and 3.8 percent respectively, drove Europe’s travel & leisure stocks to a near three-month high. The index closed up 1.6 percent. Telecom Italia jumped 10.7 percent as top investor Vivendi would start talks with Italy’s new right-wing government on a new plan to create a national broadband company.

In Bond Markets U.S. Treasury yields rose in choppy trading on Monday after a week of high volatility, as bond investors turned their focus to the U.S. midterm elections on Tuesday that will determine control of Congress. The yield on 10-year Treasury notes was up 4.3 basis points at 4.201 percent. U.S. 30-year Treasury yields were up 4.2 basis points at 4.289 percent. U.S. two-year yields, which are sensitive to rate expectations, rose 7 basis points to 4.216 percent.