Market Roundup
• UK Core CPI (MoM) (Oct): 0.3%, 0.4% forecast, 0.0% previous.
• UK Core PPI Output (MoM) (Oct): 0.1%, 0.1% previous.
• UK Core PPI Output (YoY) (Oct): 3.5%, 3.5% previous.
• UK Core RPI (MoM) (Oct): 0.3%, -0.4% previous.
• UK Core RPI (YoY) (Oct): 4.2%, 4.4% previous.
• UK CPI (YoY) (Oct): 3.6%, 3.5% forecast, 3.8% previous.
• UK CPI (MoM) (Oct): 0.4%, 0.4% forecast, 0.0% previous.
• UK CPI n.s.a (Oct): 139.80, 139.30 previous.
• UK PPI Input (MoM) (Oct): -0.3%, 0.0% forecast, -0.1% previous.
• UK PPI Input (YoY) (Oct): 0.5%, 0.7% forecast, 0.7% previous.
• UK PPI Output (MoM) (Oct): 0.0%, 0.1% forecast, 0.0% previous.
• UK PPI Output (YoY) (Oct): 3.6%, 3.5% previous.
•EU Current Account (Sep): 23.1B, 15.9B forecast, 22.2B previous.
•EU Current Account n.s.a (Sep): 38.1B, 22.3B previous.
•EU Core CPI (YoY) (Oct): 2.4%, 2.4% forecast, 2.4% previous.
•EU Core CPI (MoM) (Oct): 0.3%, 0.3% forecast, 0.1% previous.
•EU CPI (YoY) (Oct): 2.1%, 2.1% forecast, 2.2% previous.
•EU CPI (MoM) (Oct): 0.2%, 0.2% forecast, 0.1% previous.
•EU CPI ex Tobacco (MoM) (Oct): 0.2%, 0.1% previous.
•EU CPI ex Tobacco (YoY) (Oct): 2.1%, 2.2% previous.
•EU CPI n.s.a (Oct): 129.70, 129.70 forecast, 129.43 previous.
Looking Ahead Economic Data(GMT)
•13:30 US Building Permits (Sep): 1.340M forecast, 1.330M previous.
•13:30 US Building Permits (MoM) (Sep): -2.3% previous.
•13:30 US Export Price Index (MoM) (Sep): 0.1% forecast, 0.3% previous.
•13:30 US Export Price Index (YoY) (Sep): 3.4% previous.
•13:30 US Housing Starts (Sep): 1.320M forecast, 1.307M previous.
•13:30 US Housing Starts (MoM) (Sep): -8.5% previous.
•13:30 US Import Price Index (MoM) (Sep): 0.1% forecast, 0.3% previous.
•13:30 US Import Price Index (YoY) (Sep): 0.0% previous.
•13:30 US Trade Balance (Aug): -61.30B forecast, -78.30B previous.
•14:15 US Capacity Utilization Rate (Sep): 77.3% forecast, 77.4% previous.
•14:15 US Industrial Production (MoM) (Oct): 0.1% previous.
•14:15 US Industrial Production (YoY) (Sep): 0.87% previous.
•15:30 US Atlanta Fed GDPNow (Q4): 4.0% forecast, 4.0% previous.
•15:30 US Crude Oil Inventories: -1.900M forecast, 6.413M previous.
Looking Ahead Events And Other releases (GMT)
•19:00 US FOMC Meeting Minutes
•19:00 US FOMC Member Williams Speaks
Currency Forecast
EUR/USD : The euro inched higher against the dollar on Wednesday as investors awaited the Federal Reserve’s latest meeting minutes and a delayed U.S. jobs report, both of which could offer clearer signals on the central bank’s rate path. The minutes are set for release later in the day, while the September non-farm payrolls report will arrive on Thursday after being postponed due to the recent U.S. government shutdown.Data on Tuesday showed that continuing jobless claims rose to a two-month high in mid-October. The Fed cut rates by 25 basis points last month, but Chair Jerome Powell signalled caution about delivering another cut this year, citing limited data availability. According to CME’s FedWatch tool, traders now assign nearly a 49% probability of a rate cut at the December 9–10 meeting. Immediate resistance can be seen at 1.1630(50%fib), an upside break can trigger rise towards 1.16478(Higher BB).On the downside, immediate support is seen at 1.1583(38.2%fib), a break below could take the pair towards 1.1530(38.2%fib).
GBP/USD: Sterling edged lower against the dollar on Wednesday after data showed UK consumer price inflation eased in October. CPI slowed to 3.6% from September’s 18-month high of 3.8%, aligning with expectations from both the BoE and economists. The figures strengthened market confidence in a BoE rate cut in December, though broader trading conditions stayed muted as U.S. agencies continued clearing a backlog of post-shutdown data. Markets now price in an 86% chance of a 25-bps BoE cut in December, up from 80% on Tuesday. After pausing its quarterly rate cuts this month, the BoE is now looking ahead to the Nov. 26 budget, where Chancellor Rachel Reeves is expected to avoid measures that could reignite inflation. 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).
AUD/USD: The Australian dollar weakened on Wednesday as cautious global risk sentiment kept downward pressure on the currency. Investor mood has been fragile ahead of Nvidia’s earnings release, given the chipmaker’s pivotal role in the rally that has pushed global equities to record highs.On the data front, Australian wage growth held steady and matched expectations, easing concerns about renewed wage pressures following strong labour market results. The Wage Price Index rose 0.8% in Q3, unchanged from the previous quarter, according to the Australian Bureau of Statistics. Annual wage growth remained at 3.4%, supported by faster public-sector pay increases, which accelerated to 3.8%—the quickest pace since Q2 last year. In contrast, private-sector wage growth slowed to 3.2%, marking its weakest reading in more than three years. Immediate resistance can be seen at 0.6514(50%fib), an upside break can trigger rise towards 0.6523 (Higher BB).On the downside, immediate support is seen at 0.6473(38.2%fib), a break below could take the pair towards 0.6447(Lower BB)
USD/JPY: The US dollar rose against yen on Wednesday as investors assessed the central bank’s tightening amid Japan’s expansionary fiscal outlook under Takaichi.BOJ Governor Ueda told PM Takaichi that the central bank is gradually raising rates to steer inflation toward 2% and support sustainable growth. The premier made no monetary policy requests, Ueda told reporters following his first meeting with Takaichi since her appointment. The meeting followed the yen’s drop to a nine-month low, prompting concern from Japan’s finance minister over currency volatility. Takaichi’s inauguration, a proponent of expansionary policy, complicates the BOJ’s push to raise low borrowing costs. Immediate resistance can be seen at 156.42(23.6%fib) an upside break can trigger rise towards 157.00 (Psychological level) .On the downside, immediate support is seen at 155.19 (Daily low) a break below could take the pair towards 154.44 (38.2%fib)
Equities Recap
European shares hovered near a one-month low on Wednesday, with concerns over stretched tech valuations keeping investors cautious ahead of a high-stakes earnings report from AI bellwether Nvidia.
At (GMT 12:46),UK's benchmark FTSE 100 was last trading down at 0.24 percent, Germany's Dax was up by 0.19 percent, France’s CAC was last down by 0.03 percent.
Commodities Recap
Gold rose more than 1% on Wednesday as investors moved into safe-haven assets, with focus shifting to the Federal Reserve’s latest meeting minutes and a delayed U.S. jobs report due Thursday for clues on future rate moves.
Spot gold was up 1.2% at $4,115.81 per ounce, as of 1232 GMT. U.S. gold futures for December delivery gained 1.2% to $4,116.50 per ounce.
Oil prices slipped on Wednesday as rising U.S. crude inventories deepened oversupply concerns, though losses were capped by a tighter fuel market following recent attacks on Russia’s oil infrastructure.
Brent crude futures fell 71 cents, or 1%, to $64.18 a barrel by 1111 GMT, after gaining 1.1% the previous session.
