Posted at 04 November 2026 / Categories Market Roundups
Market Roundup
• US Redbook (YoY): 10.4%, 9.3% previous
•US JOLTS Job Openings (Sep): 7.523M, 7.150M forecast, 7.190M previous
•US Factory Orders (MoM) (Sep): 1.8%, 1.2% forecast, 0.3% previous
•US Factory Orders ex Transportation (MoM) (Sep): 1.3%, 0.5% forecast, 0.4% previous
•US Durables Excluding Defense (MoM) (Sep): 2.3%, 2.2% forecast, 0.0% previous
•US Durables Excluding Transport (MoM) (Sep): 0.5%, 0.5% forecast, 0.2% previous
Looking Ahead Economic Data (GMT)
• 02:00 China Caixin Services PMI (Oct) 51.7 forecast, 51.6 previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : ? ?The euro edged lower against the U.S. dollar on Tuesday ? investors gauged uncertainty over a possible US-Iran deal and the outcome of US midterm elections.Investors are weighing the market implications of a possible shift in control of the US Congress in Tuesday's midterm elections, focused on whether a strong Democratic showing could pave the way for greater volatility in asset prices, particularly the AI trade, which has been a main driver for markets.The dollar index =USD, which measures the greenback against a basket of currencies including the yen and the euro, edged up 0.07% to 101.83, with the euro up 0.07% at $1.1193. Immediate resistance can be seen at 1.1209 (Daily high), an upside break can trigger rise towards 1.1246(38.2%fib).On the downside, immediate support is seen at 1.1130(Lower BB), a break below could take the pair towards 1.1102(23.6%fib).
GBP/USD: The British pound strengthened against the US dollar on Tuesday as investors adjusted their positions ahead of the US midterm elections and the Bank of England's (BoE) monetary policy decision scheduled for Thursday.Market sentiment remained cautious amid a selloff in AI-related stocks, which heightened concerns over the broader technology sector. Investors also monitored developments in the Middle East, as a senior Iranian official told Reuters that Tehran and Washington remained far from reaching an agreement to end the ongoing conflict.Meanwhile, the BoE's Monetary Policy Committee is widely expected to raise interest rates for the first time since August 2023 as policymakers seek to contain inflationary pressures. The Federal Reserve and European Central Bank have already tightened monetary policy to prevent higher energy costs from feeding into broader 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).
USD/CAD : The Canadian dollar edged lower against the US dollar as declining oil prices weighed on the commodity-linked currency, while investors awaited key employment data that could influence expectations for further Bank of Canada (BoC) interest rate hikes.Economists expect Canada's October employment report, due on Friday, to show the economy adding 13,600 jobs, providing fresh insight into labour market conditions and the outlook for monetary policy.The BoC raised interest rates last week for the first time in three years, warning that additional tightening may be necessary to contain inflationary pressures stemming from surging energy costs. Governor Tiff Macklem reiterated that further rate increases could be required if inflation remains elevated.Meanwhile, financial markets are pricing in approximately 70 basis points of additional monetary tightening by the end of 2027, reflecting expectations that policymakers will maintain a restrictive stance to bring inflation under control.The price of oil, one of Canada's major exports, touched a nearly three-week low amid talks to end the wars in ?Ukraine and Iran. Immediate resistance can be seen at 1.4290(23.6%fib), an upside break can trigger rise towards 1.4359 (Higher BB).On the downside, immediate support is seen at 1.4154 (38.2%fib), a break below could take the pair towards 1.4125 (SMA20).
USD /JPY : The U.S. dollar edged lower on Tuesday as markets braced for US midterm election results that could shape the outlook for interest rates and currencies. Markets are monitoring US midterm elections, which will determine whether Democrats can wrest control of Congress from Trump's Republican Party.Democrats were widely expected to win the House of Representatives, while control of the Senate remained uncertain. In addition, US President Donald Trump said he made a deal with Israeli Prime Minister Benjamin Netanyahu that Washington would stop $4 billion in funding to Israel after the end of this year.The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.1% to 101.86. Immediate resistance can be seen at 158.73(50%fib), an upside break can trigger rise towards 159.48(Higher BB).On the downside, immediate support is seen at 157.97(SMA 20) a break below could take the pair towards 156.04(61.8%fib).
Equities Recap
Europe’s benchmark index slipped on Tuesday as uncertainty over a Middle East peace deal and US midterm elections weighed on sentiment, while investors assessed corporate earnings.
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UK's benchmark FTSE 100 closed down by 1.14 percent, Germany's Dax ended down by 0.45 percent, France’s CAC finished the day down by 0.34 percent.
The Nasdaq rose on Tuesday as major AI stocks rebounded ahead of US midterm election results, while Apple fell after its quarterly results disappointed investors.
Dow Jones closed down by 0.38 % percent, S&P 500 closedup by 0.37 % percent, Nasdaq settled up by 0.83% percent.
Commodities Recap
Gold edged lower on Tuesday as a stronger dollar and Treasury yields weighed on prices, while investors awaited US midterm election results for clues on fiscal policy.
Spot gold slipped 0.5% to $3,927.18 per ounce by 2:06 p.m. ET (1906 ?GMT). An earlier 1% decline took gold prices to a session low of $3,893.31.US gold futures for December delivery settled 0.7% ?lower at $3,940.40 per ounce.
Oil prices fell about 1% on Tuesday to a near four-week low as investors weighed peace talks in Ukraine and Iran against supply disruption risks from ongoing attacks.
Brent futures fell $1.17, or 1%, to settle at $103.60 a barrel, their lowest close since October 7. US West Texas Intermediate ?crude fell 37 cents to settle at $96.09, its lowest since October 14.