Posted at 04 November 2026 / Categories Market Roundups
Market Roundup
•NZ Unemployment Rate (Q3): 5.7%, 5.5% forecast, 5.6% previous
•NZ Labor Cost Index (YoY) (Q3): 2.0%, 2.1% forecast, 2.1% previous
•NZ Labor Cost Index (QoQ) (Q3): 0.4%, 0.5% forecast, 0.7% previous
•NZ Participation Rate (Q3): 70.40%, 70.70% forecast, 70.60% previous
•NZ Employment Change (QoQ) (Q3): -0.1%, 0.4% forecast, 0.3% previous
•AU AIG Manufacturing Index (Oct): -20.1, -16.6 previous
•AU AIG Construction Index (Oct): -26.9, -6.9 previous
•AU Judo Bank Services PMI (Oct): 48.5, 47.8 forecast, 51.9 previous
•AU Manufacturing & Services PMI (Oct): 48.20, 47.70 forecast, 51.30 previous
• China Caixin Services PMI (Oct): 50.8, 51.7 forecast, 51.6 previous
Looking Ahead Economic Data (GMT)
• 08:45 Italy HCOB Services PMI (Oct): 51.4 forecast, 51.7 previous
• 08:55 France HCOB Services PMI (Oct): 48.4 forecast, 51.2 previous
• 08:55 France HCOB Composite PMI (Oct): 48.4 forecast, 51.1 previous
• 08:45 Germany HCOB Services PMI (Oct): 51.7 forecast, 52.9 previous
• 08:55 Germany HCOB Composite PMI (Oct): 52.8 forecast, 53.8 previous
•09:00 Eurozone HCOB Services PMI (Oct): 51.7 forecast, 53.0 previous
•09:00 Eurozone HCOB Composite PMI (Oct): 51.9 forecast, 53.1 previous
•09:30 UK S&P Global Composite PMI (Oct): 53.1 forecast, 52.0 previous
•09:30 UK S&P Global Services PMI (Oct): 53.1 forecast, 52.1 previous
•10:00 Eurozone CPI (YoY) (Oct): 4.0%, 3.8% previous
•10:00 Eurozone Core CPI (YoY) (Oct): 2.5%, 2.5% previous
•10:00 Eurozone CPI (MoM) (Oct): 0.6% previous
•10:00 Eurozone CPI, n.s.a (Oct): 104.31 previous
•10:00 Eurozone HICP ex Energy & Food (YoY) (Oct): 2.2% previous
•10:00 Eurozone Core CPI (MoM) (Oct): 0.2% previous
•10:00 Eurozone HICP ex Energy and Food (MoM) (Oct): 0.2% previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : ? ?The euro rose higher on Wednesday ? as early results from the US midterm elections showed Democrats making significant gains in their bid to regain control of Congress. Investors responded by selling equities, reducing exposure to the dollar and shifting towards the safety of US Treasuries.Democrats secured two key Senate victories, with Annie Andrews defeating Republican Darline Graham in South Carolina and Roy Cooper winning in North Carolina. Andrews' victory was particularly notable as Donald Trump had carried South Carolina by nearly 18 percentage points in the previous presidential election. The results gave Democrats two of the four additional seats they needed to gain control of the Senate, intensifying uncertainty over the political balance in Washington. Immediate resistance can be seen at 1.1258 (Daily high), an upside break can trigger rise towards 1.1301(38.2%fib).On the downside, immediate support is seen at 1.1193(SMA20), a break below could take the pair towards 1.1156(23.6%fib).
GBP/USD: The pound firmed against the U.S. dollar on Wednesday as dollar softened on Wednesday as Democrats notched early Senate wins, fuelling bets they could wrest control of the chamber from President Donald Trump's Republicans, though the final outcome remained uncertain.In North Carolina, former Governor Roy Cooper easily defeated Trump-backed Republican Michael Whatley to flip a Republican-held Senate seat, according to media projections, handing Democrats one of the four net gains they need to secure a majority.Democrat Jon Ossoff won re-election in Georgia. Democrats are favoured to capture the ?House, while the fight for the Senate remains a closely contested state-by-state battle, keeping investorson edge as they gauge the implications for Washington's balance of power. Immediate resistance can be seen at 1.3466(38.2%fib), an upside break can trigger rise towards 1.3514(Higher BB).On the downside, immediate support is seen at 1.3397(50%fib), a break below could take the pair towards1.3341 (61.8%fib).
AUD/USD: The Australian dollar firmed on Wednesday as investors assessed the implications of the U.S. midterm elections. Democrats appeared to be gaining ground, raising concerns that potential.Democratic control of Congress could increase regulatory pressure on the technology sector and weigh on AI-related stocks.Geopolitical developments remain another source of uncertainty, with U.S. President Donald Trump highlighting progress towards a potential agreement with Iran.Meanwhile, attention is turning to Thursday’s speech by RBA Deputy Governor Andrew Hauser at the Australian National University in Canberra for fresh clues on the central bank’s monetary policy outlook.Markets currently price in a 92.5% probability that the RBA will leave its official cash rate unchanged at its December meeting, reflecting expectations that policymakers will maintain a cautious approach.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 weakened against yen on Wednesday ahead of results from US midterm elections.Democrat Jon Ossoff won re-election in Georgia, marking the first significant race call of the night as polls closed in seven states.Democrats are favoured to capture the ?House and both parties are locked in an intense state-by-state battle for the Senate, leaving investors and markets on edge.The decline comes amid growing uncertainty surrounding the U.S. midterm elections, with Democrats making gains .Oil prices fluctuated on Wednesday after hitting a four-week low in the previous session, as investors balanced diplomatic efforts to end the wars in Ukraine and Iran against concerns that escalating attacks could threaten energy infrastructure and disrupt global crude supplies.Immediate resistance can be seen at 159.00(Psychological level), an upside break can trigger rise towards 159.48(Higher BB).On the downside, immediate support is seen at 157.95(SMA 20) a break below could take the pair towards 157.35(Daily low).
Equities Recap
Asian stocks fell, led by technology shares, as investors weighed AI regulation risks and political gridlock in Washington, while oil prices also declined.
Japan’s Nikkei 225 was downby 1.41% , Hang Seng was up at 1.14%, China A50 was up at 2.01%
Commodities Recap
Gold prices climbed 2% on Wednesday, supported by a weaker US dollar following Democratic gains in the midterm elections, while investors awaited US non-farm payrolls data for fresh clues on the Federal Reserve’s monetary policy outlook.
Spot gold climbed 2.2% to $4,016.01 per ounce by 0619 GMT, ?while US gold futures for December delivery rose 2.2% to $4,026.90.
Oil prices rose on Wednesday amid volatility as investors awaited Washington’s next move in the war with Iran, while Democrats secured control of Congress in the US midterm elections.
Brent futures rose 82 cents, or 0.8%, to $104.42 a barrel at 0510 GMT. US West Texas Intermediate crude futures gained 50 cents, or 0.5%, to $96.59, reversing earlier ?declines.