•Canada Building Permits (MoM) (Sep) 4.5%, 0.8%forecast,-4.0% previous
•US 10-Year Note Auction 4.074%, 4.117% previous
•US API Weekly Crude Oil Stock, 1.300M, 1.700M forecast,6.500M
Looking Ahead Economic Data(GMT)
•23:50 Japan Foreign Bonds Buying -354.4B previous
• 23:50 Japan Investments in Japanese Stocks 690.1B previous
• 23:50 Japan PPI (YoY) (Oct) 2.5% forecast,2.7% previous
• 23:50 Japan PPI (MoM) (Oct) 0.3% previous
•00:30 Australia Employment Change (Oct) 20.0K forecast,14.9K previous
•00:30 Australia Full Employment Change (Oct) 8.7K previous
•00:30 Australia Participation Rate (Oct) 67.0% previous
•00:30 Australia Unemployment Rate (Oct) 4.4% forecast,4.5% previous
•03:35 Japan 5-Year JGB Auction 1.233% previous
Looking Ahead Events And Other Release(GMT)
•No Data Ahead
Currency Forecast
EUR/USD : The euro edged higher against on Wednesday as investors waited for U.S. Congress to end the federal shutdown and provide greater clarity on the health of the U.S. economy. Investors were awaiting a Wednesday evening vote in the Republican-controlled House of Representatives to restore funding to government agencies and end the 43-day shutdown. The Senate voted on Monday to end the longest-ever U.S. government closure, which disrupted food benefits for millions, left hundreds of thousands of federal workers unpaid, snarled air traffic, and paused crucial economic data releases.While investors have been hopeful that a reopening would allow the resumption of data releases, the White House said October jobs and inflation data reports might never be released due to the shutdown. Immediate resistance can be seen at 1.1593(SMA 20), an upside break can trigger rise towards 1.1642(50%fib).On the downside, immediate support is seen at 1.1475(23.6%fib), a break below could take the pair towards 1.1462(Lower BB).
GBP/USD: Sterling slipped against the dollar on Wednesday as signs of a weakening UK labor market reinforced expectations of a Bank of England (BoE) rate cut next month. Official data released on Tuesday showed the unemployment rate rising to 5.0%, while wage growth slowed over the three months to September. The Office for National Statistics reported that wage growth excluding bonuses eased to 4.6% year-on-year, down from the previous period.Softer labor and pay figures strengthened the case put forward by dovish BoE policymakers for a potential rate reduction at the December 18 meeting, amid mounting evidence of a slowing economy. The central bank left its benchmark rate unchanged at 4.0% last week, but signaled readiness to ease policy further if economic conditions deteriorate.. Immediate resistance can be seen at 1.3198(38.2%fib), an upside break can trigger rise towards 1.3243(SMA 20).On the downside, immediate support is seen at 1.3000(Psychological level), a break below could take the pair towards 1.2977(Lower BB).
USD/CAD: The Canadian dollar rose on Wednesday to its strongest level against the U.S. dollar this month, as investors tracked developments toward a potential U.S. government reopening and reacted to the Bank of Canada’s latest meeting minutes, which left expectations of a pause in the central bank’s easing program largely unchanged. The U.S. House of Representatives will try to end the longest government shutdown in the country's history on Wednesday. Wall Street's main indexes were mixed, and the U.S. dollar inflation data and consider underlying indicators, minutes of the central bank's October meeting showed. The price of oil , one of Canada's major exports, settled 4.2% lower at $58.49 a barrel, weighed down by an OPEC report saying global oil supply will match demand in 2026. Immediate resistance can be seen at 1.4029(38.2%fib), an upside break can trigger rise towards 1.4056(Nov 10th high).On the downside, immediate support is seen at 1.3949(38.2%fib), a break below could take the pair towards 1.3929 (Lower BB).
USD/JPY: The U.S. dollar surged to a fresh nine-month high against the yen on Wednesday as optimism over a potential U.S. government reopening boosted market sentiment, encouraging investors to unwind safe-haven positions in favor of riskier assets. Market participants became more confident that U.S. lawmakers would reach an agreement to restore federal funding, easing fears of prolonged fiscal uncertainty and supporting a broader risk-on appetite.Meanwhile, the yen faced additional pressure amid expectations of increased fiscal spending in Japan. Prime Minister Sanae Takaichi indicated plans to set a multi-year fiscal target to allow for more flexible government spending. She also urged the Bank of Japan to adopt a measured approach to interest rate hikes, contrasting sharply with the tightening stance of U.S. Federal Reserve officials. Immediate resistance can be seen at 154.58(23.6%fib) an upside break can trigger rise towards 155.00 (Psychological level) .On the downside, immediate support is seen at 152.90 (38.2%fib) a break below could take the pair towards 152.98 (SMA20).
Equities Recap
European shares hit a second straight record on Wednesday, led by financials, as investors welcomed a potential end to the U.S. government shutdown and assessed corporate updates.
UK's benchmark FTSE 100 closed up by 0.12 percent, Germany's Dax ended up by 1.22 percent, France’s CAC finished the day up by 1.04 percent.
Wall Street saw a mixed session on Wednesday, with the Dow hitting a record close while the Nasdaq fell as investors moved away from costly tech stocks, anticipating a possible end to the U.S. government shutdown.
Dow Jones closed up by 0.68 percent, S&P 500 closed up by 0.06 percent, Nasdaq settled down by 0.26 % percent.
Commodities Recap
Gold rose 2% on Wednesday as U.S. Treasury yields fell ahead of a House vote to reopen the government, supporting expectations for renewed economic data and a potential Fed rate cut in December.
Spot gold rose 2% to $4,208.98 per ounce, its highest level since October 21, as of 1:46 p.m. ET (1846 GMT).
U.S. gold futures for December delivery settled 2.4% higher at $4,213.60 per ounce.
Oil prices dropped over $2 a barrel on Wednesday after an OPEC report projected that global supply will meet demand in 2026, reversing earlier expectations of a supply shortfall.
Brent crude futures settled at $62.71 a barrel, down $2.45, or 3.76% after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude finished at $58.49 a barrel, down $2.55, or 4.18%, after climbing 1.5% in the previous session.
