Market Roundup
• Canada Avg Hourly Wages Permanent Employees (Oct): 4.0%, 3.6% previous.
•Canada Employment Change (Oct): 66.6K, -5.0K forecast, 60.4K previous.
•Canada Full-Time Employment Change (Oct): -18.5K, 106.1K previous.
•Canada Part-Time Employment Change (Oct): 85.1K, -45.6K previous.
•Canada Participation Rate (Oct): 65.3%, 65.2% previous.
•Canada Unemployment Rate (Oct): 6.9%, 7.1% forecast, 7.1% previous.
•U.S. Michigan 1-Year Inflation Expectations (Nov): 4.7%, 4.6% forecast, 4.6% previous.
•U.S. Michigan 5-Year Inflation Expectations (Nov): 3.6%, 3.8% forecast, 3.9% previous.
•U.S. Michigan Consumer Expectations (Nov): 49.0, 50.3 forecast, 50.3 previous.
•U.S. Michigan Consumer Sentiment (Nov): 50.3, 53.0 forecast, 53.6 previous.
•U.S. Michigan Current Conditions (Nov): 52.3, 59.2 forecast, 58.6 previous.
•U.S. Consumer Inflation Expectations (Oct): 3.2%, 3.4% previous.
•U.S. Baker Hughes Oil Rig Count: 414, 413 forecast, 414 previous.
•U.S. Baker Hughes Total Rig Count: 548, 546 previous.
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Release(GMT)
• No Events Ahead
Currency Summaries
EUR/USD : The euro edged higher against the dollar as investors weighed the Federal Reserve’s hawkish stance against growing concerns over the U.S. economy. The ongoing government shutdown appeared to be weighing on sentiment, with the University of Michigan’s preliminary November Consumer Sentiment index falling to its lowest level in more than three years.The survey showed that’ assessment of current conditions dropped to the most pessimistic level on record. Overall sentiment has declined nearly 30% since November 2024, when President Donald Trump secured a second term. The data blackout caused by the shutdown has further complicated the Federal Reserve’s task of balancing its dual mandate of full employment and price stability. Immediate resistance can be seen at 1.1592(SMA 20), an upside break can trigger rise towards 1.1627(50%fib).On the downside, immediate support is seen at 1.1511(38.2%fib), a break below could take the pair towards 1.1476(Lower BB).
GBP/USD: Sterling was on track for a third consecutive weekly loss against the dollar on Friday as investors assessed the Bank of England’s rate decision and awaited the upcoming government budget. A narrow policy vote and hints that Governor Andrew Bailey may soon support rate cuts have increased expectations of a December easing.The BoE held rates steady, disappointing the most dovish forecasts after a few analysts had anticipated a 25-basis-point cut. Markets now expect the government’s Autumn Statement to include substantial fiscal tightening, potentially giving the BoE more scope to cut rates next year. Immediate resistance can be seen at 1.3168(38.2%fib), an upside break can trigger rise towards 1.3263(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 strengthened against the U.S. dollar on Friday, recovering some of this week’s losses after stronger-than-expected jobs data signaled the economy’s resilience amid trade uncertainty. Canada added 66,600 jobs in October, following a 60,400 gain in September, while the unemployment rate fell to 6.9% from 7.1%. Analysts had expected a decline of 2,500 jobs.Following the report, investors priced in a roughly 90% chance that the Bank of Canada will hold rates steady in December, up from 80% before the data release. Last week, the BoC hinted at the end of its easing cycle after cutting its benchmark rate to a three-year low of 2.25%.The currency moved on Friday in a range of 1.4056 to 1.4126. For the week, it was down 0.5%.Immediate resistance can be seen at 1.4126(23.6 %fib), an upside break can trigger rise towards 1.4168(Higher BB).On the downside, immediate support is seen at 1.4020(38.2%fib), a break below could take the pair towards 1.3942(50%fib).
USD/JPY: The U.S. dollar edged higher on Friday as the yen weakened after Japan’s real wages fell for the ninth straight month in September. Government data showed household spending rose 1.8% year-on-year, below the 2.5% increase expected. On a seasonally adjusted basis, spending declined 0.7% from the previous month, compared with forecasts for a 0.1% drop.Weak consumption and wage growth remain key factors for the Bank of Japan in deciding the timing of its next rate hike. Real wages continued to decline as price gains outpaced nominal pay. To combat inflation, Japan’s largest labor union group, Rengo, announced plans to seek wage increases of 5% or more in 2026, marking a potential fourth consecutive year of significant pay hikes. Immediate resistance can be seen at 154.69(23.6%fib) an upside break can trigger rise towards 155.00 (Psychological level) .On the downside, immediate support is seen at 152.55 (38.2%fib) a break below could take the pair towards 150.72 (50%fib).
Equities Recap
European shares closed lower on Friday, capping a volatile week, as concerns over high valuations in technology-related stocks persisted. Meanwhile, Britain’s ITV surged after reports of talks to sell its broadcasting division.
UK's benchmark FTSE 100 closed down by 0.55 percent, Germany's Dax ended down by 0.69 percent, France’s CAC finished the day down by 0.18 percent.
The Nasdaq ended lower on Friday, while the S&P 500 and Dow managed modest late-session gains as investors wrapped up a turbulent week marked by economic concerns, the prolonged U.S. government shutdown, and stretched valuations in tech stocks that curbed risk appetite.
Dow Jones closed up by 0.16 percent, S&P 500 ended up by 0.13 percent, Nasdaq finished the day down by 0.22 percent.
Commodities Recap
Gold prices rose on Friday as a weaker dollar and uncertainty surrounding the U.S. government shutdown boosted safe-haven demand .
Spot gold was up 0.7% at $4,005.21 per ounce, as of 3:15 p.m. ET (2015 GMT). U.S. gold futures for December delivery gained 0.5% to settle at $4,009.80 per ounce.
Brent crude futures settled at $63.63 a barrel, up 25 cents or 0.39%. U.S. West Texas Intermediate crude finished at $59.75 a barrel, up 32 cents, or 0.54%.
