With “Super Central Bank Week” at the end of October now behind us, a series of critically important events lies ahead that will shed light on the Fed’s future pace of rate hikes and the U.S. policy stance.

First, the U.S. midterm elections will be held tomorrow, November 3.
Based on early voting trends, the Democrats are expected to secure a majority in the House of Representatives, while the Senate is expected to be closely contested between the Republicans and Democrats, with the Democrats holding a slight edge.

The 2026 U.S. midterm elections will take place at a critical juncture for the U.S. economy.
Artificial intelligence (AI) is accelerating innovation, energy demand is rising, manufacturers are investing in the U.S., and policymakers are continuing debates on trade, defense, and economic growth.

The story of these elections cannot be told through politics alone.
For people around the world—not just Americans, but those who rely on goods traded in the dollar, the world’s reserve currency—these developments are just as important as the election itself.

Behind the headlines lie major themes that shape how investors perceive growth, innovation, and investment opportunities.
While the election will determine who holds power in Washington, the underlying industrial, technological, and market themes are likely to have a far longer-lasting impact.

With concerns over geopolitical risks still running high, market volatility could increase this week.
Friday is packed with macroeconomic data releases, including key U.S. employment figures and the core PCE price index.

The Reserve Bank of Australia’s interest rate decision and updates from several central banks will also be in the spotlight.
Traders will need to remain vigilant.