"The US election on the 3 November, is the big event, with results likely to stretch into Thursday’s Asian trading session. The most pro-risk outcome is a landslide ‘Blue Wave’ result, which could carry a higher medium term growth path, while drawing lower risks of political or legal challenge. If the race narrows relative to current polling, expect a concession from either party to be unlikely (some estimates place the probability of concession speech from either party in the week of the election at 30%). This could result in a drawn out election outcome that could take weeks to resolve," ANZ notes. 

"Amidst the political risk, the FOMC also meets, however we do not expect any change to policy," ANZ adds.