Market news

US: Solid domestic demand keeps boosting imports – Wells Fargo

Bank of England to hike in February, December a live meeting – TD Securities

EUR/GBP: Move higher to be short-lived; still set to move lower in 3-12M – Danske Bank

GBP/USD extends slide below 1.3500 to one-month lows

NZD/USD slides back to 200DMA at 0.7100 level as FX market focus shifts to NFP

USD/CAD rallies to fresh two-week highs, around 1.2465 amid high oil prices.

WTI pulls back sharply from session highs above $83.00, OPEC+ agrees to 400K output hike

United States EIA Natural Gas Storage Change fell from previous 87B to 63B in October 29

EUR/USD remains depressed around 1.1550 on dollar gains

USD/JPY fails to hold above 114.00, hits two-day lows under 113.70

AUD/USD loses grip on 21DMA, now testing support at 0.7400 level

S&P 500 Index opens higher for sixth straight session, financial stocks slump

EUR/GBP pops to four-week highs above 0.8520 as sterling slides post-BoE

Gold Price Forecast: Bulls pushing towards $1,800

Bailey speech: We never said we would act at a particular meeting

GBP/USD drops to fresh one-month lows as BoE delivers dovish surprise, holds rates

Bailey speech: Cannot give a fixed time span for transitory inflation

Bailey speech: This period of higher inflation is likely to be temporary

Bailey speech: Near-term uncertainties remain, especially on labour market

Bailey speech: Monetary policy can do little to affect inflation in near term

US: Unit Labor Costs surge by 8.3% in Q3 vs. 5.2% expected

US: Weekly Initial Jobless Claims decline to 269K vs. 277K expected

Canada Imports fell from previous $52.51B to $51.14B in September

United States Goods Trade Balance rose from previous $-96.3B to $-80.934B in September

United States Unit Labor Costs came in at 8.33%, above expectations (5.2%) in 3Q

United States Unit Labor Costs came in at 8.3%, above expectations (5.2%) in 3Q

United States Goods and Services Trade Balance registered at $-80.9B, below expectations ($-74.1B) in September

United States Nonfarm Productivity came in at -5% below forecasts (-1.5%) in 3Q

Canada International Merchandise Trade above forecasts ($0.43B) in September: Actual ($1.86B)

Canada Exports declined to $53B in September from previous $54.44B

United States Initial Jobless Claims below forecasts (277K) in October 29: Actual (269K)

United States Continuing Jobless Claims came in at 2.105M, above expectations (2.07M) in October 22

United States Initial Jobless Claims 4-week average declined to 284.75K in October 29 from previous 299.25K

Spain 10-y Obligaciones Auction climbed from previous 0.446% to 0.483%

EUR/USD Price Analysis: A move to YTD low at 1.1524 looms closer

US Dollar Index Price Analysis: Further upside could see the 2021 high retested

United Kingdom BoE MPC Vote Rate Hike below expectations (3): Actual (2)

United Kingdom BoE Interest Rate Decision in line with expectations (0.1%)

Breaking: Bank of England leaves policy rate unchanged, GBP/USD slides

United Kingdom BoE Asset Purchase Facility in line with forecasts (£895B)

United Kingdom BoE MPC Vote Rate Unchanged above forecasts (6): Actual (7)

Brazil Industrial Output (YoY) below expectations (-0.4%) in September: Actual (-3.9%)

United Kingdom BoE MPC Vote Rate Cut meets expectations (0)

EUR/JPY Price Analysis: A deeper pullback looks likely below 131.50

BoE Press Conference: Governor Bailey speech live stream – November 4

United States Challenger Job Cuts climbed from previous 17.895K to 22.822K in October

EUR/NOK struggles for direction below 9.9000 post-Norges Bank

NZD/USD extends slide toward 0.7100 on renewed USD strength

European Monetary Union Producer Price Index (MoM) came in at 2.7%, above expectations (1.9%) in September

European Monetary Union Producer Price Index (YoY) came in at 16%, above forecasts (15.2%) in September

France 10-y Bond Auction up to 0.16% from previous 0.15%

OPEC+ likely to stick to plan to raise output by 400,000 bpd – Reuters

United Kingdom Markit Construction PMI above expectations (52) in October: Actual (54.6)

European Monetary Union Markit Services PMI below forecasts (54.7) in October: Actual (54.6)

European Monetary Union Markit PMI Composite came in at 54.2, below expectations (54.3) in October

Norway Norges Bank Interest Rate Decision meets forecasts (0.25%)

Germany Markit Services PMI meets forecasts (52.4) in October

Germany Markit PMI Composite meets forecasts (52) in October

France Markit Services PMI meets forecasts (56.6) in October

France Markit PMI Composite meets forecasts (54.7) in October

Italy Markit Services PMI below forecasts (54.5) in October: Actual (52.4)

US Dollar Index climbs to 3-day highs past 94.20

Spain Markit Services PMI above expectations (55.8) in October: Actual (56.6)

Switzerland SECO Consumer Climate (3m) down to 3.8 in 4Q from previous 7.8

USD/CAD drops below 1.2400 as WTI rebounds ahead of OPEC+ meet

Poland NBP Base rate came in at 1.25%, above expectations (1%)

Natural Gas Futures: Extra gains on the cards

German Factory Orders rebound 1.3% MoM in September; miss estimates

Forex Today: Dollar holds its ground as Fed tapers, eyes on BOE, mid-tier US data

Germany Factory Orders s.a. (MoM) below expectations (2%) in September: Actual (1.3%)

Crude Oil Futures: Correction has further legs to go

Gold Futures: Further losses look favoured

AUD/USD Price Analysis: 21-DMA is the level to beat for the bears

EUR/USD looks depressed around 1.1580, looks to data, dollar

FX option expiries for November 4 NY cut

Netherlands, The Consumer Price Index n.s.a (YoY): 3.4% (October) vs 2.7%

Gold Price Forecast: Fed-led rebound needs acceptance above $1782 – Confluence Detector

GBP/USD turns south towards 1.3650 ahead of BOE rate decision, Brexit talks

BOJ’s Kuroda: Discussed Japan, global economies and financial markets with PM Kishida

NZD/USD retreats towards 0.7150 amid US dollar rebound

Moody's: Headwinds to global growth will dissipate in 2022

GBP/JPY Price Analysis: Eyes a bull flag breakout, focus on BOE, daily close

BOE to hike bank rate by 15bps on Thursday – BofA

Commodities. Daily history for Wednesday, November 3, 2021

China’s Premier Li urges policy fine-tuning as economic woes mount – Bloomberg

Japan urges US to wave off extra tariffs on steel, aluminium

China’s President Xi: Will ensure smooth supply chains

USD/INR Price News: Indian rupee drops to test critical daily support

USD/JPY bounces in tandem with Treasury yields, recaptures 114.00

USD/CAD at the mercy of US jobs data this week

USD/CNY fix: 6.3943 vs the est 6.3911

Fitch Ratings: RBA’s policy recalibration signals inflation risk, 2023 rate hike

AUD/USD stalls the post-Fed bounce above 0.7450 on mixed Australian data

EUR/USD Price Analysis: Bears giving way, for now

Aussie Trade Balance surplus a positive for AUD

Australia: Retail Sales, M/M, September 1.3% (forecast 1.3%)

Japan Jibun Bank Services PMI: 50.7 (October) vs 47.8

Australia Exports (MoM): -6% (September) vs previous 4%

Australia Trade Balance (MoM) came in at 12243M, above expectations (12175M) in September

Australia Imports (MoM) down to -2% in September from previous -1%

Schedule for today, Thursday, November 4, 2021

Australia: Trade Balance , September 12.243 (forecast 12.2)

Currencies. Daily history for Wednesday, November 3, 2021

New Zealand ANZ Commodity Price above forecasts (1%) in October: Actual (2.1%)

GBP/USD Price Analysis: The bulls are in charge and target a test into 1.37 area

Gold Price Forecast: XAU/USD trims some post-Fed Wednesday’s losses up to around $1,773

AUD/USD Price Analysis: A bottom could be in place ahead of NFP this week

Silver Price Forecast: XAG/USD seesaws around $23.50 post-Fed taper and Chair Powell conference

S&P 500 clinches fifth consecutive record close, equity bulls emboldened by dovish Fed

NZD/USD holds back in neutral territory territories post-Fed spike

Forex Today: Dollar down as Fed delivers but does not promises

WTI down sharply to $80.00 level, biggest one-day drop since August

Iran says nuclear talks with world powers to resume on Nov. 29

USD/CAD drops back to 1.2400 post-dovish Fed, but oil sell-off weighs on loonie

USD/CHF clings to 0.9100 as Fed’s Chair Powell hit the spotlight

EUR/USD bulls come up for their least breath?

Fed talks taper but its all transitory

Powell speech: If we need to raise rates, we'll be patient but not hesitate

Powell speech: Liftoff test is clearly not met on employment goal

S&P 500 surges to fresh intra-day record levels above 4640 as Powell speaks

Powell speech: Wouldn't surprise markets if we have to change pace of taper

Powell speech: We see higher inflation persisting and have to be ready to address that risk

Powell speech: We can be patient on rates

Powell speech: Decision to taper does not imply any direct signal on rates

Powell speech: Inflation will decline closer to 2% goal as economy adjusts

Powell speech: Unemployment rate understates shortfall in employment

Powell speech: With COVID receding, economic growth should pick up this quarter

Gold Price Forecast: XAU/USD seesaws around the $1,760-70 range after Fed announces taper

GBP/USD holds around pre-Fed levels on as expected Fed statement

AUD/USD pops then drops in wake of Fed rate decision, attention now on Powell presser

United States Fed Interest Rate Decision in line with forecasts (0.25%)

Breaking: Fed leaves policy rate unchanged, reduces asset purchases by $15 billion per month

EUR/USD sits tight ahead of the Fed, but bears ready to clean-up

Fed Press Conference: Chairman Jerome Powell speech live stream – November 3

USD/JPY pops back above 114.00 in advance of Fed announcement, aided by strong US data duo

WTI plunges during the New York session, eyeing $81.00

EUR/JPY Price Analysis: A bullish flag in the daily chart could propel the pair towards 134.00

US ISM Services: Demand shows no signs of slowing – Wells Fargo

GBP/USD reclaims 1.3650 level post strong Service PMIs, Fed & BoE in focus

Silver Price Forecast: XAG/USD under pressure ahead of the Fed, tumbles to 23.00

Russia Consumer Price Index (MoM) above forecasts (1%) in October: Actual (1.11%)