Posted at 12 November 2026 / Categories Market Roundups
Market Roundup
• US MBA Mortgage Applications (WoW): 6.2%, -1.2% previous
•US Mortgage Market Index: 204.6, 192.6 previous
•US MBA Purchase Index: 141.2, 131.4 previous
•US Mortgage Refinance Index: 540.7, 517.5 previous
•US MBA 30-Year Mortgage Rate: 7.21%, 7.30% previous
Looking Ahead Economic Data (GMT)
• 03:35 Japan 5-Year JGB Auction 2.379% previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : ? ?The euro dipped on Wednesday after showed German inflation slowed to 2.8% in October, confirming a preliminary reading. German inflation ?slowed to 2.8% in October, the ?federal ?statistics office said on ?Wednesday, ?confirming initial data. A preliminary ?read-out from the statistics office ?showed last ?month that October inflation ?slowed to 2.8% year-on-year, down ?from ?3.3% ?in September. The figures are ?harmonised to ?compare ?with other European ?Union ?countries. A forecast from the National Institute of Economic and Social Research pointed to stronger UK economic growth in 2026, while warning inflation may not return to the Bank of England's 2% target until late 2030. Immediate resistance can be seen at 1.1193(SMA 20), an upside break can trigger rise towards 1.1298(38.2%fib).On the downside, immediate support is seen at 1.1083(Daily low), a break below could take the pair towards 1.1048(Lower BB).
GBP/USD: The pound fell on Wednesday as dollar strengthened across the board after US inflation data and hawkish comments from ?Federal Reserve officials a day earlier fuelled bets that the US central bank will hike interest rates next month. Investors will be watching for Britain's latest gross domestic product data, due on ?Thursday. A Reuters survey of economists forecasts 0.7% quarter-on-quarter growth in the third quarter, which would be a ?pick-up from the previous period. The Bank of England raised interest rates last Thursday for the first time in over three years in an almost unanimous decision. Analysts have noted that hawkish expectations from the British central bank have supported the pound lately. Immediate resistance can be seen at 1.3371(SMA 20), an upside break can trigger rise towards 1.3379(38.2%fib).On the downside, immediate support is seen at 1.3265(38.2%fib), a break below could take the pair towards 1.3201(Lower BB).
USD/CAD: The Canadian dollar slipped on Wednesday as dollar gained as hotter-than-expected US inflation data on Tuesday cemented expectations for an interest rate hike from the Fed next month. Recent hawkish rhetoric from Fed officials added to the view. Traders see a rate hike next month as a certainty, with a roughly 11% chance of a half-percentage-point increase, according to the CME FedWatch tool. Oil prices rose after the Iranian security chief said Tehranwould not allow any enriched nuclear material to leave the country. Brent futures climbed $1.27, or 1.39%, to settle at $92.76, while US West Texas Intermediate crude gained 49 cents, or 0.57%, to $86.53.. Immediate resistance can be seen at 1.4284 (23.6%fib), an upside break can trigger rise towards 1.4316(Higher BB).On the downside, immediate support is seen at 1.4143(38.2%fib), a break below could take the pair towards 1.4066 (lower BB).
USD /JPY : The U.S. dollar rose higher against yen on as hotter-than-expected US inflation data pushed dollar higher higher and reinforced expectations of further Federal Reserve monetary tightening.The hawkish shift in US interest rate expectations has widened the yield differential between Japanese government bonds (JGBs) and US Treasuries, further favouring the dollar against the yen.The US Consumer Price Index rose 0.4% in October after advancing 0.6% in September, according to official data. Economists polled had forecast the CPI climbing 0.3% over the month. Immediate resistance can be seen at 158.72(38.2%fib), an upside break can trigger rise towards 159.64(Higher BB).On the downside, immediate support is seen at 157.86(50% fib) a break below could take the pair towards 156.66(61.8% fib).
Equities Recap
European stocks closed at a record high on Wednesday, nearing an intraday peak as upbeat forecasts from Siemens Energy and strong CoreWeave results boosted AI optimism and lifted technology shares.
UK's benchmark FTSE 100 closed up by 0.78 percent, Germany's Dax ended up by 1.20 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 up by 0.49 percent, S&P 500 ended up by 1.31 percent, Nasdaq finished the day up by 1.60 percent
Commodities Recap
Gold prices extended losses on Wednesday as stronger-than-expected US inflation and hawkish Fed comments boosted the dollar and increased expectations of a larger rate hike next month.
Spot gold ?was down 1.1% at $3,986.79 per ounce by 1:51 p.m. ET (1851 GMT), extending Tuesday's ?almost 3% fall after recovering to as high as $4,066.77 earlier in the ?session. US gold futures for December delivery settled 0.7% lower at $4,000.50 per ounce.
Oil prices gained around 1% on Wednesday as Iran's refusal to allow enriched nuclear material to leave the country heightened geopolitical tensions and supply concerns, lifting crude from the previous session's two-month lows.
Brent futures settled $1.27, or 1.39%, higher at $92.76, while US West Texas Intermediate crude gained 49 cents, or 0.57%, to $86.53.