Spotlight turns to Fed's Interest Rate Decision tonight after US election battle

$E-mini S&P 500 Futures(DEC4) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ **]We maintain bullish as price has pushed above 5920 resistance-turn-support level. As long as price holds above 5920 support level, we expect price to push towards 6035 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$USD (USDindex.FX)$ (4 Hour Chart) -[BULLISH↗ **]We stay bullish as we expect price to push towards 106.105 resistance level. As long as price holds above 104.549 support level, we can expect a push towards 106.105 resistance level. A 4 hour candlestick closing above 106.105 resistance level can open the next push towards 107.056 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$Gold Futures(DEC4) (GCmain.US)$ (4 Hour Chart) -[BEARISH ↘ *]We turn bearish as price dropped below 2680 support-turn-resistance level. As long as price holds below 2680 resistance level, we expect price to drop towards 2640 support level. A 4 hour candlestick closing below 2640 support level would open next drop towards 2600 support level. Technical indicators are leaning towards a bearish scenario as well.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[BULLISH↗ **]We stay bullish as price is currently holding above ascending trendline support. As long as price holds above 38830 support level, we expect price to push towards 40320 resistance level. Technical indicators are advocating for a bullish scenario as well.

$HSI Futures(NOV4) (HSImain.HK)$ (4 Hour Chart) -[NEUTRAL]We continue to stay neutral with a slight bullish bias as price is hovering between 21185 resistance and 20230 support level. A 4 hour candlestick closing above 21185 resistance level could open next push towards 21550 resistance level. Technical indicators are mixed for now.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ ***]STI has pushed above 3645 resistance level. We stay bullish as long as the 4 hour candlestick closes above the 3645 resistance-turn-support level. We can expect to see a push towards 3700 resistance level. Technical indicators are mixed, with price holding above 21-EMA period.

US markets closed higher last night, with $E-mini S&P 500 Futures(DEC4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ climbing higher by 2.51% and 2.71% respectively. This is driven by Trump's victory in the US presidential election, with sectors such as financials, energy and industrials standing to gain the most during his term. Among other stocks, $Capital One Financial (COF.US)$ , $Goldman Sachs (GS.US)$ and $JPMorgan (JPM.US)$ made notable gains, pushing up by 15.01%, 13.10% and 11.54% respectively. Ahead of the interest rate decision tonight, traders are currently pricing in a 98.1% probability of a 25 basis point cut. Traders should take note of the Fed interest rate decision tonight and initial jobless claims data.

Asian markets open mixed this morning. $Nikkei 225 (.N225.JP)$ pushed lower by 0.91%, due to the underperforming overall wage income of employees and the tech sector experiencing retracement. $Minebea Mitsumi (6479.JP)$ pushed lower the most by 6.44%. Traders should look towards the household spending released tomorrow morning. $HSI Futures(NOV4) (HSImain.HK)$ drifted lower by 0.42%. There is risk-off sentiment among traders as traders expect to see rising tensions and higher taxes and tariffs in a second Trump presidency. Traders are now looking towards the NPC standing committee which concludes on Friday, to lift trader's confidence. $FTSE Singapore Straits Time Index (.STI.SG)$ climbed higher by 1.23% today, mirroring the US indices. The finance sector saw the greatest strength, with $DBS Group Holdings (D05.SG)$ , $UOB (U11.SG)$ and $OCBC Bank (O39.SG)$ pushing higher by 3.60%, 1.74% and 2.09% respectively.

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