Market Roundup
•US Redbook (YoY) 5.9%,5.7% previous
Looking Ahead Economic Data(GMT)
•00:30 Australia Home Loans (MoM) (Q3) 2.4% previous
•06:00 Japan Machine Tool Orders (YoY) (Oct) 9.9%forecast,8.1% previous
Looking Ahead Events And Other Release(GMT)
•No events Ahead
Currency Forecast
Currency Forecast
EUR/USD : The euro edged higher on Tuesday as the U.S. dollar dipped on concerns over a weakening labor market. Preliminary ADP data showed that private employers cut an average of 11,250 jobs per week in the four weeks ending October 25.With the U.S. federal government nearing reopening, a series of economic reports is expected, potentially highlighting signs of a slowdown. The shutdown-ending measure now moves to the House, where Speaker Mike Johnson aims for passage by Wednesday before sending it to President Trump for approval. Meanwhile, German investor sentiment fell unexpectedly in November, with the ZEW economic research institute reporting a decline in its economic sentiment index to 38.5 from 39.3 in October. Immediate resistance can be seen at 1.1560(Daily high), an upside break can trigger rise towards 1.1614(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 edged lower against the dollar on Tuesday after data showed Britain's labour market cooled noticeably in the third quarter .British wage growth slowed in the three months to September, according to data on Tuesday that will bolster expectations for a Bank of England interest rate cut next month.Wage growth, excluding bonuses, slowed slightly to 4.6% in the three months to September compared with a year earlier, the Office for National Statistics said on Tuesday. Wage growth excluding bonuses in the private sector a key metric for the BoE cooled to 4.2% in the three months to September, as the central bank had predicted in forecasts published at the start of the month. The Bank of England is closely watching pay growth for signs of how persistent domestic inflation pressures are likely to prove. BoE officials held interest rates at 4% last week, and hinted that it could reduce borrowing costs in December .Immediate resistance can be seen at 1.3178(38.2%fib), an upside break can trigger rise towards 1.3262(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 Tuesday, supported by higher oil prices and a softer greenback. The U.S. dollar slipped amid growing concerns over the weakening labor market, following data showing private employers cut jobs last month.Preliminary figures from ADP Research indicated that private employers shed an average of 11,250 jobs per week in the four weeks ending October 25.Oil prices rose about $1, with Brent crude futures trading at $65.03 a barrel, boosted by the impact of the latest U.S. sanctions on Russian oil and optimism over a potential end to the U.S. government shutdown. However, concerns over global oversupply limited further gains. Immediate resistance can be seen at 1.4057(Nov 10th high), an upside break can trigger rise towards 1.4116(23.6%fib).On the downside, immediate support is seen at 1.4007(38.2%fib), a break below could take the pair towards 1.3934(Lower BB).
USD/JPY: The U.S. dollar hit nine-month high against the yen on Tuesday after Japan’s new Prime Minister Sanae Takaichi urged policymakers to take a cautious approach to interest rate hikes. On Monday, Takaichi outlined plans to set a multi-year fiscal target aimed at allowing more flexible spending, effectively easing the country’s commitment to fiscal consolidation.The prime minister also reiterated calls for the Bank of Japan to slow the pace of rate hikes, even as most central bank officials appear inclined to resume monetary tightening sooner. Markets are closely watching when BOJ Governor Kazuo Ueda will hold his first two-way meeting with Takaichi—a key event signaling close coordination on monetary policy. The dollar rose 0.10% to 154.28 against the yen , after hitting 154.495, the highest level since February. 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 stocks closed at a record high on Tuesday, driven by gains in healthcare shares, as investors anticipated a potential end to the U.S. government shutdown.
UK's benchmark FTSE 100 closed up by 1.15 percent, Germany's Dax ended up by 0.53 percent, France’s CAC finished the day up by 1.23 percent.
The Dow Jones Industrial Average climbed to a record high close on Tuesday, boosted by optimism over progress toward ending the longest U.S. government shutdown. Meanwhile, Nvidia and other AI-related stocks retreated on renewed concerns over high valuations.
Dow Jones closed up by 1.18 percent, S&P 500 ended up by 0.21 percent, Nasdaq finished the day down by 0.25 percent.
Commodities Recap
Oil prices gained roughly $1 on Tuesday, supported by the latest U.S. sanctions on Russian oil and optimism over a potential end to the U.S. government shutdown. However, concerns about global oversupply limited further gains.
Brent crude futures settled $1.10, or 1.72%, higher to $65.16 a barrel. U.S. West Texas Intermediate crude climbed 91 cents, or 1.51%, to settle at $61.04 a barrel.
Gold prices climbed to a near three-week high on Tuesday, supported by expectations that a potential end to the U.S. government shutdown and the resumption of economic data could pave the way for a Federal Reserve rate cut next month.
Spot gold was up 0.3% at $4,126.77 per ounce at 3:13 p.m. ET (2013 GMT), having earlier hit its highest since October 23.
