Posted at 12 November 2026 / Categories Market Roundups
Market Roundup
• UK GDP (YoY) (Q3): 1.9%, 1.9% forecast, 1.4% previous
• UK GDP (MoM) (Sep): 0.2%, 0.0% forecast, 0.0% previous
• UK GDP (QoQ) (Q3): 0.7%, 0.7% forecast, 0.5% previous
• UK Manufacturing Production (MoM) (Sep): 0.7%, -0.5% forecast, 0.7% previous
• UK Industrial Production (MoM) (Sep): 0.3%, -0.4% forecast, 0.7% previous
• UK Business Investment (QoQ) (Q3): 0.4%, 0.4% forecast, 1.8% previous
• UK Monthly GDP 3M/3M Change (Sep): 0.7%, 0.7% forecast, 0.6% previous
• UK Trade Balance Non-EU (Sep): -8.99B, -6.82B previous
• UK Trade Balance (Sep): -22.29B, -19.20B forecast, -19.61B previous
• UK Industrial Production (YoY) (Sep): 3.1%, 2.9% forecast, 1.1% previous
• UK Manufacturing Production (YoY) (Sep): 4.4%, 3.8% forecast, 2.5% previous
• UK Business Investment (YoY) (Q3): 3.0%, 5.2% previous
• UK Construction Output (MoM) (Sep): 0.8%, 0.0% forecast, -0.5% previous
• UK Construction Output (YoY) (Sep): -1.5%, -2.1% forecast, -1.9% previous
• UK GDP (YoY) (Sep): 2.1%, 1.9% forecast, 2.0% previous
• UK Index of Services: 0.9%, 0.9% forecast, 0.9% previous
Looking Ahead Economic Data (GMT)
• 18:00 Italian 3-Year BTP Auction: 3.69% previous
• 18:00 Italian 7-Year BTP Auction: 3.90% previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : ? ?The euro dipped on Thursday as dollar was supported by growing expectations of a Federal Reserve rate hike. Traders ramped up bets on further Fed tightening after stronger-than-expected October inflation data and a series of hawkish remarks from US central bank officials, who expressed concern over stubborn inflation and left open the possibility of a larger 50-basis-point increase.New York Fed President John Williams is set to appear on a panel late Thursday that will be closely watched given his "pre-October FOMC meeting views the Fed had time on rate hikes. The dollar index =USD, which measures the greenback against a basket of currencies, rose by 0.15% to 103.02, the highest since April 2025. Immediate resistance can be seen at 1.1168(38.2%fib), an upside break can trigger rise towards 1.1868(SMA 20).On the downside, immediate support is seen at 1.1075(23.6%fib), a break below could take the pair towards 1.1052(Lower BB).
GBP/USD: The pound initially dipped but recovered ground on Thursday as investors digested UK GDP data. Britain's economy grew at the fastest rate in two-and-a-half years in the third quarter of 2026, helped by a boost from ?artificial intelligence and extending a strong first-half, official figures showed on Thursday.Gross domestic product expanded by 0.7% in the July-to-September period, in line with a Reuters poll of economists, but faster than its 0.5% growth in the second quarter of the year and the strongest calendar-quarter growth since the first quarter of 2024, the Office for National ?Statistics said.The annual growth ?rate picked up to 1.9% in the third quarter, the strongest reading since ?the fourth quarter in 2024, and also in line with the 1.9% median forecast. Immediate resistance can be seen at 1.3355(38.2%fib), an upside break can trigger rise towards 1.3371(SMA 20).On the downside, immediate support is seen at 1.3245(38.2%fib), a break below could take the pair towards 1.3202(Lower BB).
AUD/USD: The Australian dollar dipped on Thursday as greenback continued to benefit from rising expectations of further Federal Reserve tightening, following concerns over the deteriorating US inflation outlook.Recent inflation pressures have prompted Fed officials to consider the possibility of additional interest rate increases, strengthening the US dollar and weighing on risk-sensitive currencies such as the Australian dollar. Reserve Bank of Australia board member Marnie Baker cancelled a scheduled public appearance on Thursday because of unforeseen family circumstances.Markets are now increasingly pricing in an extended pause, with the RBA expected to keep its cash rate unchanged at least until its June 22, 2027 monetary policy meeting.RBA Governor Michele Bullock is scheduled to speak at an ASIC forum on November 17, potentially providing further clues about the central bank's policy outlook. Immediate resistance can be seen at 0.6860(Daily high), an upside break can trigger rise towards 0.6914(38.2%fib).On the downside, immediate support is seen at 0.6826(23.6% fib), a break below could take the pair towards 0.6798(Lower BB)
USD /JPY : The U.S. dollar edged higher against yen on Thursday as yen weakned on a dovish central banker's speech. Bank of Japan board member Toichiro Asada, one of two dovish policymakers who dissented from September's decision to increase borrowing costs to 1.25%, pushed back against calls within the board for a near-term interest rate hike, saying in a speech that premature rate hikes could hurt growth and push down underlying inflation.Earlier a warning from Japan's top currency diplomat Atsushi Mimura that it was "too early to forget" intervention by Japanese authorities during the summer pushed the dollar/yen pair to its lowest point of the day but the respite for the yen was brief. 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
Asian stocks tumbled on Thursday, led ?by losses in chipmakers and data centre operators as Nvidia shares cratered in after-hours trading on news that its board may oust longtime CEO Jensen Huang.
Japan’s Nikkei 225 was down by 6.04% , Hang Seng was down at 1.59%, China A50 was down at 1.59%
Commodities Recap
Gold prices fell to a more than one-week low on Thursday as hotter-than-expected US inflation and hawkish Fed comments boosted the dollar and strengthened expectations of a rate hike next month.
Spot gold fell 0.7% to $3,959.03 per ounce by 0732 GMT, after touching ?its lowest since November 4 earlier.US gold futures for December delivery ?dropped 0.9% to $3,964.50.
Oil prices dropped more than $1 a barrel on Thursday as easing Middle East tensions reduced geopolitical risk premiums, while rising OPEC+ output and US inventories heightened oversupply concerns.
Brent futures were down $1.47, or 1.58%, to $91.29 a barrel by 0426 ?GMT. US West Texas Intermediate crude futures slipped $1.24, or 1.43%, to $85.29.