Posted at 05 November 2026 / Categories Market Roundups
Market Roundup
• US ADP Nonfarm Employment Change (Oct): 86K, 67K forecast, 86K previous
•Canada Reserve Assets Total (Oct): 126.2B, 125.3B previous
•US Trade Balance (Sep): -105.00B, -107.90B forecast, -105.70B previous
•US Exports (Sep): 321.50B, 315.70B previous
•US Imports (Sep): 426.60B, 421.40B previous
•Canada Trade Balance (Sep): 5.35B, 4.80B forecast, 4.95B previous
•Canada Exports (Sep): 78.55B, 78.41B previous
•Canada Imports (Sep): 73.20B, 73.46B previous
•US All Car Sales (Oct): 2.45M, 2.52M previous
•US All Truck Sales (Oct): 13.09M, 13.46M previous
•Canada Services PMI (Oct): 48.10, 48.30 previous
•US S&P Global Services PMI (Oct): 56.1, 57.9 forecast, 58.8 previous
•US S&P Global Composite PMI (Oct): 55.9, 57.6 forecast, 58.4 previous
•US ISM Non-Manufacturing PMI (Oct): 54.5, 54.8 forecast, 54.9 previous
•US ISM Non-Manufacturing Employment (Oct): 51.4, 50.0 forecast, 50.1 previous
•US ISM Non-Manufacturing Prices (Oct): 73.0, 74.6 forecast, 74.0 previous
•US ISM Non-Manufacturing New Orders (Oct): 55.9, 58.5 forecast, 59.8 previous
•US ISM Non-Manufacturing Business Activity (Oct): 53.8, 56.5 previous
•US Crude Oil Inventories: -0.865M, -1.700M forecast, -1.892M previous
•US Cushing Crude Oil Inventories: 0.280M, -0.624M previous
•US Distillate Fuel Production: -0.007M, -0.071M previous
•US Gasoline Inventories: -0.222M, 0.200M forecast, 3.870M previous
•US Gasoline Production: 0.463M, -0.509M previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD : ? ?The euro rose higher on Wednesday ? after Democrats seized control of both chambers of Congress in the US midterm elections.In a major setback to President Donald Trump, Democrats scored sweeping victories in Republican strongholds for the first time in generations. The breadth of the party's success was underscored by gains in districts long considered safely conservative, highlighting a political shift that may have caught some investors off guard.On the data front, Euro zone inflation rose to a three-year high last month on surging food and energy costs and was set to rise further in the coming months, firming up the case for another European Central Bank rate hike in December.Inflation in the 21 nations sharing the euro currency rose to 4.0% in October from 3.8% a month earlier, in line with expectations in a Reuters poll of economists, as energy inflation hit 20%, data from Eurostat, the EU's statistics agency, showed on Wednesday. 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 British pound rose higher on Wednesday as the US dollar came under broad selling pressure following a strong performance by Democrats in the US midterm elections.Democrats secured control of Congress in a sweeping electoral setback for President Donald Trump and his Republican Party, prompting investors to reassess the US political and economic outlook.The election outcome triggered a decline in US Treasury yields and weighed on the dollar, providing additional support to sterling.The pound also drew support from expectations of further monetary tightening by the Bank of England. Markets are widely anticipating a 25-basis-point interest rate increase to 4.00% at Thursday's policy meeting. The British pound has remained in sharper focus since Finance Minister John Healey unveiled the government's latest budget. 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).
USD/CAD: The Canadian dollar slipped against the U.S. dollar on Wednesday as Canada's trade surplus widened and after a sweeping victory by Democrats in the US midterm elections.Democrats geared up for a showdown with Republicans in Washington, pledging to harness their decisive midterm election gains to constrain President Donald Trump over the next two years.On the data. Canada recorded a trade surplus of C$5.35 billion ($3.83 billion) in September, the largest since May 2022. However, the underlying trade picture was less encouraging, as the surplus weakened after excluding gold and energy exports, while export volumes fell 4%.Separate data revealed that Canada's services sector contracted for a fifth consecutive month in October, as ongoing trade uncertainty and rising prices continued to weigh on business activity. Immediate resistance can be seen at 1.4033 (50%fib), an upside break can trigger rise towards 1.4077(Higher BB).On the downside, immediate support is seen at 1.3929(61.8%fib), a break below could take the pair towards 1.3971 (lower BB).
USD /JPY : The U.S. dollar weakened against yen on Wednesday as sweeping victory by Democrats in the US midterm elections sent the dollar lower .Democrats captured majorities in both the Senate and the House, even prevailing in states that have long been conservative bastions, stoking fears that opposition to data centres may gather fresh momentum.Fears that rapid AI sector growth could be hamstrung by regulatory scrutiny following the Democrat win was an immediate focus for the market.Opinion polls have shown Democratic voters favoring more control over AI, and investors expect the Democratic-controlled Congress to apply more scrutiny to the sector .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
European stocks closed at a more than two-month high on Wednesday, buoyed by broad gains following Democrats' congressional victory, while Novo Nordisk surged on an upgraded annual forecast.
UK's benchmark FTSE 100 closed up by 1.78percent, Germany's Dax ended up by 2.22 percent, France’s CAC finished the day up by 1.98 percent.
Wall Street closed sharply higher on Wednesday as Democrats' midterm victory eased political uncertainty and boosted risk appetite, while data centre stocks fell on AI regulation concerns.
Dow Jones closed down by 3.03 percent, S&P 500 ended up by 1.58percent, Nasdaq finished the day up by 1.44percent.
Commodities Recap
Gold jumped more than 3% on Wednesday, its biggest daily gain since mid-August, as the dollar tumbled following Democrats' midterm victory, while investors awaited US jobs data for clues on the Fed's rate outlook.
Spot gold was up 3.4% at $4,059.95 per ounce by 2:04 p.m. EST (1904 GMT), while US gold futures for ?December delivery settled 3.4% higher at $4,073.
Spot gold reclaimed the $4,000-an-ounce level after falling to $3,869.85 on October 30, the ?lowest level since October 2025.
Oil prices plunged more than 8% on Wednesday to their lowest level in over two months, as Democrats' midterm victory raised hopes of a potential end to the US-Israeli war with Iran.
Brent futures settled $8.98, or 8.7% lower, at $94.62 a barrel, while US West Texas Intermediate crude futures fell $7.97, or 8.3%, to $88.12. Both benchmarks closed at their lowest since Aug 31.