Thursday, 5 November 2026
Independent coverage of global markets, trade and finance
Deutsche Bank Research’s UK economists Sanjay Raja and Maui Brennan have shifted their BoE base case from no hikes to two 25bp moves, in November and February. They argue Bank Rate is already restrictive, inflation is l…
ING’s Francesco Pesole notes the Dollar started the week strongly despite lower Oil prices and firmer global equities, helped by hawkish remarks from Federal Reserve officials Austan Goolsbee and Alberto Musalem that su…
Standard Chartered’s Nicholas Chia now expects the Reserve Bank of Australia (RBA) to raise the cash rate to 4.60% at its 29 September meeting, revising a previous call for a hold. Chia cites recent RBA messaging focuse…
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that GBP/USD remains under 1.3400 as United Kingdom (UK) fiscal policy turns more restrictive. Rising borrowing has eroded fiscal headroom, pressuring Chancellor J…
Gold (XAU/USD) consolidates on Tuesday as traders weigh fresh Middle East headlines while the broader geopolitical backdrop remains tense. At the time of writing, XAU/USD trades around $4,334 after rebounding from an in…
Financial markets adopt a cautious stance early Tuesday amid mounting geopolitical uncertainty. The European economic calendar will feature preliminary Consumer Confidence Index data for September. Meanwhile, investors …
John Velis at BNY Markets argues that current US inflation is being driven by non-rate-sensitive components of core PCE, limiting how effective further Federal Reserve tightening can be. He expects one more rate hike in…
Amid reports of Japan’s current account surplus hitting record highs and international investors losing confidence in the US dollar, the story would seem straightforward: as the dollar falters, the yen should be soaring…
The USD/CAD pair extends its consolidative price move through the early European session on Tuesday, trading below 1.4050, or the highest since August 6, amid mixed fundamental cues.
Short-term fair value has slipped below 1.150 for the first time since late July, while the two-year SOFR ESTR spread has widened back toward 150bp, also around levels last seen in July. Interestingly, oil now carries o…
Transport and logistics companies are grappling with rising costs and supply chain disruption. Meanwhile, a growing trade imbalance with China is creating new challenges across Europe's logistics network
The British Pound (GBP) is giving back earlier gains against the US Dollar (USD) on Tuesday as data from the UK revealed that public sector borrowing increased beyond expectations in August, rekindling market concerns a…
USD/JPY gains ground for the third consecutive day, trading around 157.70 during the European hours on Tuesday. The currency pair is consolidating after the recent pullback while remaining capped by the medium-term tren…
Deutsche Bank strategists highlight a strong risk-on session in US equities, with the S&P 500 up over 1% and back in positive territory for September, sitting less than half a percent below its all-time high. Tech leade…
ING’s Francesco Pesole notes EUR/GBP has held a tight 0.855–0.860 range since early September after a Bank of England (BoE) meeting that did not strongly challenge aggressive market tightening expectations. ING economis…
Gold (XAU/USD) attracts some sellers following a modest Asian session uptick on Tuesday and slides below $4,350 in the last hour, though the downside seems limited. The US Federal Reserve's (Fed) hawkish outlook is seen…
Reserve Bank of Australia (RBA) Governor Michele Bullock said in a statement released during the Asian trading session on Tuesday that supply shocks are difficult for monetary policy to deal with. Bullock added, “Policy…
The US Dollar (USD) holds onto previous day’s gains on Tuesday, with the US Dollar Index (DXY) trading firmly around 100.40.
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Tuesday that if higher oil prices persist, they are expected to result in somewhat higher near-term inflation than assumed in the September statement. Brem…
EUR/JPY extends its gains for the third consecutive day, trading around 180.60 during Asian hours on Tuesday. Technical analysis of the daily chart shows the currency cross remaining within a descending channel, suggest…
The New Zealand Dollar extends its losses for the second straight trading session, down 0.13% after last week’s Fed rate hike and a hawkish tilt within the board, which was reinforced by speeches of Fed officials on Mon…
GBP/USD has stalled at 1.3400 in each of the last three sessions, and it trades just under that level again on Monday. The Dollar is up against most major currencies, so this is more a Dollar move than a Pound one. Trad…
The AUD/USD pair gains ground to near 0.7120 during the early European trading hours on Tuesday. The Australian Dollar (AUD) strengthens against the US Dollar (USD) following Reserve Bank of Australia (RBA) Governor Mic…
NZD/USD extends its losing streak for the third consecutive day, trading around 0.5700 during the Asian hours on Tuesday. The currency pair is facing downward pressure as the New Zealand Dollar (NZD) weakens following s…