The Australian share market has had a quiet start to what's expected to be a volatile two weeks filled with big events across politics, corporate earnings and macroeconomics.
The benchmark S&P/ASX200 index on Monday finished 10.2 points, or 0.12 per cent, higher, at 8,221.5, while the broader All Ordinaries gained 10.9 points, or 0.13 per cent, to 8,478.2.
This week, 278 of the 500 US companies in the S&P500 will report earnings, including US tech titans Amazon, Apple, Alphabet, Microsoft and Nvidia.
Closer to home, on Wednesday the Australian Bureau of Statistics will report important third-quarter domestic inflation data that the Reserve Bank will no doubt closely examine at their meeting next week.
Next Tuesday (Wednesday, Australian time) is also the date of the US presidential election.
Meanwhile, the US Federal Reserve's rate-setting committee will hand down its latest decision on interest rates early next Friday, Australian time.
"Volatility is likely to rise over the week as numbers drop and investors re-position ahead of next week's major events," Moomoo market strategist Michael McCarthy said.
Meanwhile in currency, the Australian dollar dropped below 66 US cents for the first time since mid-August.
IG market analyst Tony Sycamore said that stronger-than-expected US economic data this month had prompted traders to revise their dovish outlook for Fed rate cuts into year-end, thereby boosting the greenback.
Predictions of a potential Republican sweep next week - where Donald Trump wins and Republicans flip the Senate and retain control of the House - may also have something to do with the currency movement.
The increased tariffs that Republicans have promised would likely result in a stronger US dollar, Barclays analysts said in a client note.
Six of the ASX's 11 sectors finished higher on Monday and five closed lower, with technology the biggest mover, rising 2.0 per cent. Xero added 2.5 per cent, Life360 climbed 2.8 per cent and Wisetech Global advanced 0.9 per cent.
In the heavyweight mining sector, BHP gained 1.3 per cent to $42.96 as the big Australian reached a settlement with authorities in Brazil over the Samarco dam failure in 2015, agreeing to pay $R170 billion ($45 billion) in reparations for the disaster that killed 19 people and devastated downstream villages.
RBC Capital Markets analyst Kaan Peker said the impact on BHP would be neutral, given it had already set aside money for the settlement, but it did provide clarity on an overhang for the stock.
Mineral Resources gained 1.2 per cent to $34.53 after the board of the diversified miner said it was continuing an investigation into managing director Chris Ellison with the assistance of counsel.
Elsewhere in the sector, Fortescue rose 2.2 per cent to $19.41 and Rio Tinto gained 1.7 per cent to $120.12, while goldminers fell as the precious metal dropped around $US10 to $US2,736. Northern Star was down 5.5 per cent to a four-day low of $17.28.
Three of the four big retail banks lost ground, with NAB dipping 0.7 per cent to $38.67 while CBA and ANZ both lost 0.8 per cent, to $31.45 and $142.86, respectively. Westpac was the outlier, edging 0.1 per cent higher at $32.16.
In the energy sector, Paladin slumped 15.3 per cent to $10.36 after announcing that it had encountered short-term operational challenges ramping up production at its Langer Heinrich uranium mine in Namibia.
The Australian dollar was buying 65.92 US cents, from 66.25 US cents at Friday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index on Monday gained 10.2 points, or 0.12 per cent, to 8,221.5
* The All Ordinaries gained 10.9 points, or 0.13 per cent, at 8,478.2
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 65.92 US cents, from 66.25 US cents at Friday's ASX close
* 101.16 Japanese yen, from 100.64 yen
* 61.10 euro cents, from 61.24 euro cents
* 50.91 British pence, from 51.11 pence
* 110.52 NZ cents, from 110.51 NZ cents.
