Market Roundup
• China Fixed Asset Investment (YoY) (Oct): -1.7%, -0.9% forecast, -0.5% previous
• China Industrial Production (YoY) (Oct): 4.9%, 5.5% forecast, 6.5% previous
• China Chinese Industrial Production YTD (YoY) (Oct): 6.1%, 6.2% previous
• China Retail Sales (YoY) (Oct): 2.9%, 2.7% forecast, 3.0% previous
• China Chinese Retail Sales YTD (YoY) (Oct): 3.31%, 3.48% previous
• China Chinese Unemployment Rate (Oct): 5.1%, 5.2% forecast, 5.2% previous
Looking Ahead Economic Data(GMT)
• 07:45 French CPI NSA (MoM) (Oct): 0.10% previous
•07:45 EU French CPI NSA (YoY) (Oct): forecast 1.00% previous
•07:45 EU French CPI (MoM) (Oct): 0.1%, forecast 1.0% previous
•10:00 EU Employment Change (QoQ) (Q3): 0.1% forecast 0.1% previous
•10:00 EU Employment Change (YoY) (Q3): 0.6% previous
•10:00 EU Employment Overall (Q3): 169 forecast 778.7K previous
•10:00 EUGDP (QoQ) (Q3): 0.2% forecast0.1% previous
•10:00 EU GDP (YoY) (Q3): 1.3%, -, 1.5% previous
•10:00 EUTrade Balance (Sep): -, -, 1.0B previous
Looking Ahead Events And Other Release(GMT)
• 11:00 German Buba Vice President Buch Speaks
Currency Forecast
EUR/USD : The euro was steadied against the dollar on Friday as investors awaited a backlog of U.S. data following the government's reopening, which they expect will likely point to a weakening economy.But the dominant theme remained a hawkish shift in U.S. rate expectations, with investors now seeing less than a 50% chance of a 25-basis-point cut in December.The move followed comments from more Federal Reserve officials signalling caution over further easing overnight, citing worries about inflation and signs of relative stability in the labour market. Still, that failed to lift the dollar, which slipped against the euro to leave it bouncing back above the $1.16 mark. The common currency last bought $1.1641. Immediate resistance can be seen at 1.1609(Daily high), 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 lower against the dollar on Friday as soft UK growth data weighed on Sterling. Britain's economy barely expanded in the third quarter, held back by September's cyber attack on Jaguar Land Rover, according to data on Thursday that underlined the backdrop of slow growth as finance minister Rachel Reeves readies her budget.The economy grew 0.1% in the third quarter of 2025, the Office for National Statistics said, slowing from growth of 0.3% in the second quarter. The Bank of England, had forecast 0.2% growth in gross domestic product for the July-September period. Thursday's data is unlikely to sway deliberations around Reeves' November 26 Budget, with the economy still growing tepidly despite the government's intention to "kickstart" it .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 dollars rebounded on Friday, clawing back losses from a risk-off slump overnight.The Australian dollar is often sold as a proxy for global risk and has slid during recent bouts of global market volatility, although rising expectations that the Reserve Bank of Australia might be done easing have helped cushion the blow.The Aussie AUD=D3 rose 0.3% to $0.6548 after giving up all of its post-jobs gains overnight to finish 0.2% lower as Wall Street tumbled. It is set for a weekly gain of 0.8%, with near-term resistance at $0.6580. Australian bond yields fell on Friday but were set for three straight weeks of increases. Three-year government bond yields slipped 2 basis points to 3.784% after having risen more than 40 bps over the past three weeks.. Immediate resistance can be seen at 0.6543(50%fib), an upside break can trigger rise towards 0.6594 (Higher BB).On the downside, immediate support is seen at 0.6473(61.8%fib), a break below could take the pair towards 0.6440(Lower BB)
USD/JPY: The U.S. dollar dipped on Thursday as yen recovered some ground on expectations of Japanese intervention risks. Finance Minister Satsuki Katayama warned on Wednesday that authorities were vigilant to "one-sided, sharp moves" in the exchange-rate market, adding the negative aspects of a weak yen have become more pronounced than the positives..As Japanese authorities once again battle a slide in the yen, their efforts this time are struggling for traction, undermined by new prime minister Sanae Takaichi's promotion of advocates of big fiscal and monetary stimulus to key posts.While Tokyo officials this week warned against sharp downward moves in the currency, maintaining the jawboning of previous administrations, their voices are increasingly competing with calls by new policy advisers preaching the benefits of a weak yen.A proponent of expansionary fiscal and monetary policy, Takaichi filled seats in key government panels with advocates of big spending backed by low interest rates policies that work to depreciate the yen's value. 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
Asian shares fell sharply on Friday, following a global selloff after hawkish remarks from Federal Reserve officials dampened expectations of a U.S. rate cut next month, with a still-crowded data calendar adding to market uncertainty..
Hang Seng was up 1.47% ,South Korea’s KOSPI traded dwn 3.49% ,Japan’s Nikkei 225 was down 1.83%
Commodities’ Recap
Gold prices climbed on Friday, heading for a weekly gain, buoyed by a weaker dollar as investors awaited additional U.S. economic data to assess the chances of a December rate cut following hawkish remarks from a Federal Reserve official.
Spot gold was up 0.7% at $4,201.70 per ounce, as of 0452 GMT. Bullion is up 5% so far this week.
Oil prices jumped about 2% on Friday on supply fears after a Ukrainian drone attack hit an oil depot in the Russian Black Sea port of Novorossiysk, a major export hub.
Brent crude futures rose $1.24, or 1.97%, to $64.25 a barrel by 0315 GMT, while U.S. West Texas Intermediate crude rose $1.25, or 2.13%, to $59.94 a barrel.
