Posted at 31 October 2026 / Categories Market Roundups
Market Roundup
•US Employment Cost Index (QoQ) (Q3): 0.8% actual, 0.8% forecast, 0.9% previous
•US Employment Wages (QoQ) (Q3): 0.70% actual, 0.90% previous
•US Employment Benefits (QoQ) (Q3): 0.90% actual, 1.00% previous
•Canada GDP (MoM) (Aug): 0.0% actual, 0.2% forecast, 0.0% previous
•Canada GDP (MoM) (Sep): -0.1% actual, 0.0% previous
•US Chicago PMI (Oct): 55.3 actual, 55.8 forecast, 58.8 previous
•Canada Budget Balance (YoY) (Aug): -5.36B actual, -5.14B previous
•Canada Budget Balance (Aug): -0.22B actual, -4.77B previous
•US Baker Hughes Oil Rig Count: 462 actual, 460 previous
•US Baker Hughes Total Rig Count: 603 actual, 603 previous
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Economic Data (GMT)
•No Data Ahead
Currency Forecast
EUR/USD : ?The euro edged lower against the US dollar on Friday as investors assessed the European Central Bank’s latest policy decision and its implications for the interest rate outlook. The ECB kept rates unchanged on Thursday, as widely expected, but signalled the possibility of another hike in December amid rising concerns over energy-driven inflation. The central bank warned that higher energy costs were increasing upside risks to inflation, potentially strengthening expectations of a December rate increase. However, it also cautioned that prolonged energy price pressures could weigh on economic growth by raising costs for businesses and households. The ECB has raised rates twice this year to prevent the energy price shock triggered by the Iran war from becoming entrenched in the broader economy. Immediate resistance can be seen at 1.1202(SMA 20), an upside break can trigger rise towards 1.1248(38.2%fib).On the downside, immediate support is seen at 1.1130(Lower BB), a break below could take the pair towards 1.1105(23.6%fib).
GBP/USD: The pound edged higher against the US dollar on Friday, supported by growing expectations of further monetary tightening by the Bank of England. Markets are increasingly pricing in a 25-basis-point rate hike at the BoE's November meeting, followed by another increase in February, as persistent inflationary pressures reinforce the case for higher borrowing costs.Meanwhile, Finance Minister John Healey's budget, which outlined a cautious approach to taxation and public spending, had a limited impact on UK financial markets. The budget aimed to provide support to households facing pressure from global economic uncertainties while maintaining the government's commitment to restoring public finances .Immediate resistance can be seen at 1.3410(38.2%fib), an upside break can trigger rise towards 1.34209(Oct 22nd high).On the downside, immediate support is seen at 1.3292(38.2%fib), a break below could take the pair towards1.3282 (Lower BB).
USD/CAD: The Canadian dollar strengthened to a six-week high against its US counterpart on Friday as a jump in oil prices ?supported bets the Bank of Canada would tighten further, overshadowing disappointing GDP data.On Wednesday, the Bank of Canada hiked its key interest rate by 25 basis points to 2.50% and said further increases might be needed to prevent soaring energy costs from driving broader inflation.Investors see a roughly 50% ?chance the central bank ?tightens at its ?next policy decision in December and have fully discounted a move by January.US crude oil futures were trading 2.7% ?higher at $104.80 a barrel as traders braced for a ?potential escalation ?in the US-Iran conflict after the US midterm elections. Oil is one of Canada's major exports .Immediate resistance can be seen at 1.4022(50%fib), an upside break can trigger rise towards 1.062 (Oct 28th high).On the downside, immediate support is seen at 1.3911(38.2%fib), a break below could take the pair towards 1.3771 (23.6%fib).
USD /JPY : The U.S. dollar edged lower on Friday after the Bank of Japan held rates steady as expected.The Bank of Japan (BoJ) kept interest rates unchanged on Friday but raised its inflation forecasts, while reiterating its commitment to further rate hikes to contain growing inflationary pressures.At its two-day policy meeting ending Friday, the Bank of Japan voted 8-1 to keep its short-term interest rate unchanged at 1.25%. Board member Hajime Takata dissented, favouring a 25-basis-point increase to 1.50%.In its latest outlook report, the BOJ raised its core consumer inflation forecast for the fiscal year ending March 2028 to 2.6% from 2.4% projected three months earlier. It also upgraded its forecasts for core-core inflation, which excludes the impact of fuel costs, for both fiscal 2027 and 2028. Immediate resistance can be seen at 158.00(Psychological level), an upside break can trigger rise towards 158.48(50%fib).On the downside, immediate support is seen at 157.05(Lower BB) a break below could take the pair towards 156.53(61.8%fib).
Equities Recap
European shares fell on Friday, dragged down by a global technology selloff that wiped billions off the market capitalisations of major chipmakers, bringing a largely strong month to an end on a negative note.
UK's benchmark FTSE 100 closed up by 0.07 percent, Germany's Dax ended down by 0.85 percent, France’s CAC finished the day down by 0.01 percent.
US stocks tumbled on Friday, with the Nasdaq recording its biggest one-day percentage decline since June 5, as disappointing quarterly results from Intel and Amazon intensified concerns over the massive spending by AI-related companies on the emerging technology.
Dow Jones closed down by 1.09 %percent, S&P 500 closed down by 1.82% percent, Nasdaq settled down by 2.88 % percent.
Commodities Recap
Gold prices fell to a one-year low on Friday, while silver, platinum and palladium sank further into technically oversold territory as a selloff in technology shares fuelled concerns that massive AI investments may fail to generate sufficient returns.
Spot gold fell 3.5% to $3,880.97 an ounce by 2:13 p.m. ET (1813 GMT) its lowest level since October 2025 US gold futures for December delivery settled 3.3% lower at $3,898.90 per ounce.
Oil prices surged more than 2% on Friday, settling at their highest levels since late April, as traders prepared for a possible escalation in the Iran war following the US midterm elections.
Brent crude futures for December , which expired on Friday, settled up $2.76, or 2.4%, at $117.64 a barrel, after touching a high of $118. The more active January contract gained $2.63 to $113.43.US West Texas Intermediate (WTI) crude futures settled $2.12, or 2.08%, higher at $104.12.