Posted at 02 November 2026 / Categories Market Roundups
Market Roundup
• Australia MI Inflation Gauge (MoM) (Oct): 0.3% previous
•Australia Building Approvals (MoM) (Sep): 1.8% forecast, -5.2% previous
•Australia Building Approvals (YoY) (Sep): 12.10% previous
•Australia Private House Approvals (Sep): 5.4% previous
•Japan au Jibun Bank Manufacturing PMI (Oct): 53.3% forecast, 54.1% previous
Looking Ahead Economic Data (GMT)
•09:00 German HCOB Manufacturing PMI (Oct): 53.9 previous
•09:00 Greek S&P Global Manufacturing PMI (Oct): 54.0 previous
•09:00 Eurozone HCOB Manufacturing PMI (Oct): 52.9 previous
•09:30 UK S&P Global Manufacturing PMI (Oct) 52.8 forecast , 51.9 previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : ?The euro edged higher against the U.S. dollar on Monday as investors turned their attention to this week's U.S. midterm elections, which could reshape the balance of power in Congress and influence control over government spending.Markets are preparing for a busy week, with the U.S. midterm elections, October employment data and interest rate decisions from central banks in Britain, Australia, Norway and Sweden taking centre stage.Americans will head to the polls on Tuesday to decide whether Democrats can regain control of Congress from President Donald Trump's Republican Party. While the House of Representatives remains a key focus, the Senate outcome is also attracting considerable attention.Analysts noted that a Democratic sweep could create additional hurdles for spending plans related to data centres and AI infrastructure, particularly at the state level.Immediate resistance can be seen at 1.1214(Daily high), 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 U.S. dollar on Monday as investors looked ahead to the Bank of England's monetary policy decision later this week. The BoE is widely expected to bow to mounting inflationary pressures from soaring energy costs and raise interest rates on Thursday,although it may push back against market expectations for several further increases next year.Economists polled by Reuters expect the central bank to raise its benchmark Bank Rate to 4.0% from 3.75%, marking its first rate hike since August 2023, when inflation was still more than three times its 2% target.The BoE was previously criticised for underestimating the persistence of inflation during the last major surge in energy prices and is keen to avoid repeating that mistake. With global energy costs remaining elevated and little indication of a lasting end to the Iran war, policymakers face renewed pressure to contain inflation.Immediate resistance can be seen at 1.3420(Daily high), 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).
AUD/USD: The Australian dollar edged lower on Monday as investors bracing for a possible fifth rate hike on Tuesday. Australia’s central bank is widely expected to deliver its fifth interest rate increase of the year on Tuesday, as policymakers step up efforts to bring persistent inflation under controlMost economists anticipate that the Reserve Bank of Australia’s nine-member board will raise the cash rate by 25 basis points to 4.85%, marking its highest level in 18 years. Money markets have priced in an approximately 80% probability of a rate increase when the decision is announced at 2:30 p.m. The policy announcement will also include updated economic projections, followed by a press conference with Governor Michele Bullock an hour later.On the data front, Australia's Melbourne Institute Monthly Inflation Gauge rose 0.5% m/m in October, accelerating from 0.3% in September and recording its fourth consecutive monthly increase.Immediate resistance can be seen at 0.7045(Higher BB), an upside break can trigger rise towards 0.7058(50%fib).On the downside, immediate support is seen at 0.6986 (38.2% fib), a break below could take the pair towards 0.6977(Lower BB)
USD /JPY : The U.S. dollar edged higher on Monday as Japanese Yen faced selling pressure despite verbal warnings from Tokyo.Japanese Finance Minister Satsuki Katayama said authorities remain ready to intervene if currency market movements become excessive or disorderly, reiterating that Tokyo would act in line with its existing agreement with Washington.Katayama reiterated that both U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi shared concerns over the yen's weakness, pointing to discussions between the two leaders during their September summit.Japan will continue adhering to its established currency and financial market coordination framework with the United States, Katayama said when asked about the upcoming U.S. elections. 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
Asian equity markets rebounded on Monday as investors looked to upcoming Apple earnings for reassurance amid concerns over heavy AI-related spending.
Japan’s Nikkei 225 was up by 2.09% , Hang Seng was up at 1.48%, South Korea’s KOSPI was down at 3.48%
Commodities Recap
Oil prices slipped more than 3% on Monday after Iranian and Qatari officials held a third straight day of talks aimed at pushing for a deal to end the US-Israeli war on Iran.
Brent crude futures fell $3.43, or 3%, to $110 a barrel by 0712 GMT while US West Texas Intermediate crude fetched $100.62 a ?barrel, down $3.50, or 3.4%.