Market Roundup
• UK Core CPI (MoM) (Sep) 0.0%,0.2%forecast,0.3% previous
• UK Core CPI (YoY) (Sep) 3.5%,3.7% forecast,3.6% previous
• UK Core PPI Output (MoM) (Sep) 0.1% , 0,4% previous
• UK Core PPI Output (YoY) (Sep) 3.6%,1.9% previous
• UK Core RPI (YoY) (Sep) 4.4% ,4.4% previous
• UK Core RPI (MoM) (Sep) -0.4%, 0.4% previous
• UK CPI (YoY) (Sep) 3.8%,4.0%forecast3.8% previous
• UK CPI (MoM) (Sep) 0.0%,0.3% previous
• UK CPI, n.s.a (Sep) 139.30,139.30 previous
• UK PPI Output (MoM) (Sep) 0.0%,0.2% forecast,0.6% previous
Looking Ahead Economic Data(GMT)
• 14:30 U. S. Crude Oil Inventories 2.200M forecast, 3.524M previous
• 14:30 Uhr US EIA Refinery Crude Runs (WoW) -1.167M previous
• 14:30 U. S. Crude Oil Imports -1.754M previous
• 14:30 Uhr US Cushing Crude Oil Inventories 0.703M previous
• 14:30 U. S. Distillate Fuel Production -0.577M previous
Looking Ahead Events And Other Releases(GMT)
•15:00 German Buba Vice President Buch Speaks
Currency Forecast
EUR/USD : The euro slipped against the dollar on Wednesday after a planned summit between U.S. President Donald Trump and Russian President Vladimir Putin was postponed, following Russia’s rejection of an immediate ceasefire in Ukraine. Trump had announced last week that he and Putin would meet soon in Hungary to seek an end to the conflict, but Moscow has insisted that Ukraine cede more territory before any ceasefire.Investors are focusing on next week’s monetary policy decisions from the U.S. Federal Reserve and the European Central Bank. Immediate resistance can be seen at 1.1662(50%fib), an upside break can trigger rise towards 1.1728(Oct 17th high).On the downside, immediate support is seen at 1.1561(61.8%fib), a break below could take the pair towards 1.1523(Lower BB).
GBP/USD: The pound fell to a one-week low on Wednesday after inflation unexpectedly held steady at 3.8%, missing forecasts from both economists and the Bank of England. Official data showed that headline inflation and a key core measure of price growth were unchanged in September, offering limited relief to Finance Minister Rachel Reeves ahead of her November budget.Annual consumer price inflation remained at 3.8% for the third consecutive month the highest among advanced economies. The International Monetary Fund projects that UK inflation will stay the highest among G7 nations through 2025 and 2026, complicating the Bank of England’s plans to cut interest rates to support the slowing economy. The BoE expects inflation to gradually decline, reaching its 2% target only between April and June 2027. Immediate resistance can be seen at 1.3386(SMA 20), an upside break can trigger rise towards 1.3399(SMA 20).On the downside, immediate support is seen at 1.3294(23.6%fib), a break below could take the pair towards 1.3265(Lower BB).
AUD/USD: The Australian dollar slipped as the U.S. dollar strengthened ahead of the upcoming U.S.-China trade talks. Investors are closely watching the progress of the negotiations, with officials from both nations scheduled to meet in Malaysia this week. U.S. President Donald Trump said on Monday that he expects to reach a fair trade deal with Chinese President Xi Jinping, whom he plans to meet in South Korea next week.Market participants are also awaiting Friday’s release of the September U.S. Consumer Price Index (CPI) report for further guidance on the Federal Reserve’s interest rate-cut trajectory. The CPI data is expected to offer a rare moment of economic clarity amid the official data blackout caused by the ongoing 21-day government shutdown. Immediate resistance can be seen at 0.6524(Oct 22nd high), an upside break can trigger rise towards 0.6544(50%fib).On the downside, immediate support is seen at 0.6476(61.8%fib), a break below could take the pair towards 0.6442(Lower BB).
USD/JPY: The dollar edged lower on Wednesday as the yen gained slightly, with investors assessing Japan’s new cabinet. Sanae Takaichi, the first female leader of the ruling Liberal Democratic Party, won Tuesday’s lower house vote to become prime minister. Her support for fiscal stimulus and looser monetary policy has kept investors cautious and complicates the Bank of Japan’s efforts to raise rates. Takaichi is also expected to adopt a hardline stance on immigration and defense, reflecting a broader global shift to the right.The yen has lost 2.6% this month during Takaichi’s rise to power, marking its largest monthly decline against the dollar since July. Immediate resistance can be seen at 152.19(Oct 23rd high) an upside break can trigger rise towards 153.00 (Psychological level) .On the downside, immediate support is seen at 150.69 (38.2%fib) a break below could take the pair towards 150.38 (SMA 20).
EquitiesRecap
European shares edged lower on Wednesday, weighed down by disappointing earnings from major firms including French cosmetics giant L'Oréal and luxury goods maker Hermès.
At (GMT 12:59),UK's benchmark FTSE 100 was last trading up at 0.98 percent, Germany's Dax was down by 0.12 percent, France’s CAC was last down by 0.25 percent.
Commodities Recap
Gold prices extended losses on Wednesday after their steepest daily drop since 2020, as an early rebound faded amid profit-taking and pressure from a stronger dollar.
Spot gold fell 2.6% to $4,017.29 per ounce as of 1103 GMT, hitting a near two-week low after earlier rising to $4,161.17. U.S. gold futures for December delivery declined 1.9% to $4,032.80 per ounce.
Oil prices rose for a second straight day on Wednesday, climbing about 2% on hopes of progress toward a U.S.-China trade deal and improved demand outlooks.
Brent crude futures rose $1.18, or 1.9%, to $62.50 a barrel as of 1211 GMT, while U.S. West Texas Intermediate crude futures climbed $1.17, or 2%, to $58.41.
