Australia: Building Approvals and Private House Approvals for September will provide an updated picture of the housing sector. The figures could influence expectations for domestic demand and the Australian dollar, particularly as markets prepare for the RBA's policy announcement.
China: RatingDog Manufacturing PMI for October will be closely watched for signs of improvement or weakness in factory activity. Given China's importance to global trade and commodity demand, the result could influence the Australian dollar and broader regional sentiment.
Eurozone: Final Manufacturing PMI figures from Germany, France and the wider currency bloc will help clarify whether industrial activity is gaining momentum. Germany's retail sales and Swiss manufacturing and retail figures will add further insight into European demand.
United Kingdom: Final Manufacturing PMI will provide another indication of business conditions and production activity, helping markets assess the outlook for the British economy.
United States: ISM Manufacturing PMI, manufacturing employment and prices paid will be the day's main releases. The manufacturing survey is expected to remain relatively firm, with the previous reading at 54.5. Construction Spending and S&P Global Manufacturing PMI will provide additional context. Fed official Austan Goolsbee is also scheduled to participate in a discussion. Strong activity and persistent input costs could support the dollar by reinforcing concerns about inflation.
Tuesday, November 3, 2026
Australia: The Reserve Bank of Australia will announce its monetary policy decision, followed by its policy statement and press conference. The cash rate currently stands at 4.60%, with markets anticipating a possible 25-basis-point increase to 4.85%. Persistent inflation, particularly after September's inflation reading, has kept attention on the possibility of further tightening. Governor Michele Bullock's comments will be important in determining whether another increase is likely or whether policymakers prefer to assess incoming data first.
Switzerland: October Consumer Price Index figures will provide fresh insight into inflation pressures. A stronger reading could strengthen expectations that the Swiss National Bank will maintain a cautious approach, while weaker inflation could reinforce expectations for a more accommodative policy outlook.
United States: JOLTS Job Openings for September will offer an important update on labor demand, vacancies and the balance between employers and available workers. Factory Orders and final Durable Goods Orders will also provide information about manufacturing demand and business investment.
United States: Midterm elections will take place, with political developments potentially influencing expectations surrounding fiscal policy, government spending and future economic priorities. Any significant surprises could affect the dollar, Treasury yields and broader financial sentiment.
Canada: Bank of Canada Governor Tiff Macklem and Deputy Governor Sharon Kozicki are among the scheduled speakers, with their comments potentially offering clues about the central bank's assessment of inflation and economic growth.
Wednesday, November 4, 2026
Eurozone: October Flash Consumer Price Index will be one of the week's most important European releases. Headline inflation is expected to increase to approximately 3.9%–4.0% from 3.8%, while core inflation is expected to remain around 2.5%. A stronger result could reinforce expectations that the European Central Bank will maintain a restrictive policy stance, potentially supporting the euro. Final Services PMI figures from Germany, France, Italy and the wider euro area will also provide insight into business activity.
United States: ADP Employment Change for October will offer an early indication of private-sector hiring ahead of Friday's official employment report. The previous reading was 90,000, while forecasts point to approximately 75,000. The Trade Balance and final Services PMI will provide additional information about economic conditions.
United States: ISM Services PMI will be another major release, with attention on business activity, employment and prices paid. A stronger services sector could reinforce concerns about persistent inflation, while weaker figures may increase expectations of monetary easing.
Sweden, Poland and Brazil: The Riksbank, National Bank of Poland and Central Bank of Brazil are scheduled to announce policy decisions. Their interest-rate guidance could influence their respective currencies and regional market sentiment.
Japan: Minutes from the Bank of Japan's previous policy meeting will be monitored for further clues about inflation concerns and the possibility of future interest-rate adjustments.
Global Markets: The US Treasury's quarterly refunding announcement could influence bond yields and dollar sentiment, particularly if borrowing requirements or issuance plans differ from expectations.
Thursday, November 5, 2026
United Kingdom: The Bank of England will announce its November monetary policy decision, accompanied by the Monetary Policy Summary, meeting minutes and Monetary Policy Report. The current Bank Rate stands at 3.75%, with markets anticipating a possible 25-basis-point increase to 4.00%. Investors will pay close attention to the voting breakdown, inflation projections and comments from Governor Andrew Bailey. A more cautious outlook could limit sterling gains, while stronger concerns about inflation may reinforce expectations for additional tightening.
United States: Initial Jobless Claims will provide an updated picture of labor-market conditions ahead of Friday's employment report. The release will be particularly important for assessing whether layoffs are increasing or whether employers continue to retain workers.
United States: Third-quarter Productivity and Unit Labor Costs will offer insight into economic efficiency and wage-related inflation pressures. Strong productivity growth could help contain labor costs, whereas accelerating unit labor costs may complicate the Federal Reserve's efforts to bring inflation lower.
Australia: September Trade Balance figures will provide further information about export performance and external demand. Commodity shipments and China's economic conditions remain important considerations for the Australian dollar.
Europe: Eurozone Producer Price Index figures for September will help assess price pressures at the industrial level, while Sweden's preliminary October inflation figures will be important for expectations surrounding the Riksbank.
Norway, Czech Republic and Mexico: Norges Bank, the Czech National Bank and Banco de México are scheduled to announce monetary policy decisions. Their statements will provide additional direction for their respective currencies.
Canada: The federal budget will attract attention as investors assess government spending, fiscal priorities and their potential implications for economic growth and borrowing requirements.
Friday, November 6, 2026
United States: October Nonfarm Payrolls will be the week's most closely watched economic release. Employment growth is forecast at approximately 56,000, compared with 29,000 previously, while the unemployment rate is expected to remain at 4.2%. Average Hourly Earnings are forecast to increase by 0.3% after a 0.1% previous reading. Stronger hiring and wage growth could support the dollar by reinforcing concerns about inflation and reducing expectations for near-term interest-rate cuts. Conversely, weaker employment could increase pressure on the Federal Reserve to consider a more accommodative approach.
Canada: October Employment Change is expected to show a recovery, with approximately 12,500 additional jobs following the previous decline of 68,300. The unemployment rate and employment composition will also be important in assessing the strength of the labor market. The Ivey PMI will provide another indication of business activity and demand.
Eurozone: September Retail Sales will provide an update on consumer spending and household demand. Germany's Industrial Production figures will also be important in assessing whether Europe's largest economy is experiencing a sustained improvement in manufacturing activity.
Japan: September Labor Cash Earnings and Household Spending will provide additional insight into wage growth and domestic consumption. Stronger wages could support expectations for further monetary policy normalization, while weak household spending may reinforce concerns about economic momentum.
Switzerland: Foreign Currency Reserves and the SECO Consumer Climate report will provide further insight into financial conditions and household confidence.
United States: Preliminary University of Michigan Consumer Sentiment for November will be monitored for changes in household confidence. Inflation expectations will be particularly important because persistent concerns about future prices could influence Federal Reserve policy expectations and Treasury yields.
United Kingdom: Comments from Bank of England officials Huw Pill and other policymakers will be monitored following Thursday's rate announcement, particularly for further clarification about the inflation outlook.
Canada: The October Ivey PMI will round out the Canadian releases, helping investors assess whether business conditions are strengthening or losing momentum.
Current Structure: Sterling has surrendered part of its early advance after reaching 1.3447. Manufacturing PMI remained unchanged at 52.8, suggesting steady industrial activity but offering little fresh support for the pound.
Factors Affecting the Pair: Dollar weakness ahead of the US midterm elections has helped limit sterling's losses. However, expectations surrounding the Bank of England's November rate decision and upcoming US employment data remain important influences.
Support Levels: 1.3409, 1.3379, 1.3354
Resistance Levels: 1.3444, 1.3467, 1.3492
Forecast: The pound could recover if dollar selling continues, but failure to overcome 1.3444 would leave it vulnerable to renewed pressure toward 1.3379.
Current Structure: Sterling remains relatively strong, trading around 1.3440 as broad dollar weakness supports the pair. Buyers continue defending the 1.3400 region, although resistance above current prices is limiting further progress.
Factors Affecting the Pair: Expectations of a Bank of England interest rate increase from 3.75% to 4.00% on November 5 remain a major source of support. Meanwhile, softer UK bond yields, US election uncertainty and upcoming American employment data could generate additional volatility.
Support Levels: 1.3402, 1.3379, 1.3358, 1.3329, 1.3300, 1.3267
Resistance Levels: 1.3430, 1.3485
Forecast: The outlook remains bullish while the pair holds above 1.3379. A convincing break above 1.3430 could open the way toward 1.3485. However, uncertainty surrounding the BoE decision may encourage temporary profit-taking.
Sterling remains relatively strong, supported by expectations of tighter monetary policy and broad dollar weakness.
Stronger UK services activity, rising inflation and improved business confidence have strengthened the case for another interest rate increase.
However, much of the anticipated tightening may already be reflected in the pound's valuation.
Factors Affecting the Pair
The Bank of England's November 5 decision is today's major catalyst, with markets expecting an increase from 3.75% to 4.00%.
Governor Andrew Bailey's comments and the voting distribution could determine whether sterling extends its recovery or experiences profit-taking.
Support Levels: 1.3430, 1.3402, 1.3379, 1.3358, 1.3329, 1.3300, 1.3267
Resistance Levels: 1.3485, 1.3539
Forecast
- The outlook remains cautiously bullish, but a less aggressive policy outlook could limit gains. Sterling may experience increased volatility following the BoE announcement
Current Structure: Sterling is holding its recent gains near 1.3470x;1.3490, supported by dollar weakness and expectations surrounding the Bank of England's monetary policy. Nevertheless, disappointing construction activity highlights underlying economic vulnerabilities.
Factors Affecting the Pair: The expected increase in the BoE rate to 4.00% is largely reflected in market prices. Attention is shifting toward the voting distribution and Andrew Bailey's guidance on future tightening. Persistent services inflation supports sterling, while weak economic activity limits its upside.
Support Levels: 1.3455, 1.3402, 1.3379, 1.3358, 1.3329, 1.3300, 1.3267, 1.3231
Resistance Levels: 1.3498
Forecast: Sterling retains a constructive outlook if it remains above 1.3455. A convincing break above 1.3498 could encourage further gains, while a cautious BoE message may trigger profit-taking and renewed pressure.
China (CNY): October CPI and PPI. Consumer prices are expected to remain subdued, while producer-price trends will offer clues about industrial demand and China's recovery.
Eurozone (EUR): German September trade balance and Sentix investor confidence. Trade performance and business sentiment will provide insight into regional economic resilience.
United Kingdom (GBP): BoE Governor Andrew Bailey speaks, with markets watching for further guidance on inflation and interest rates.
Japan (JPY): BoJ Summary of Opinions provides additional insight into policymakers' views on inflation and future rate decisions.
United States (USD): Fed officials' comments may influence expectations for monetary policy.
Tuesday, November 10
United States (USD): October CPI and core CPI are the week's biggest releases. Headline inflation is forecast at 0.3% monthly, down from 0.6%, while core inflation is expected at 0.2%, compared with 0.3% previously. Softer readings could ease pressure on the Federal Reserve, while stronger figures may support the dollar.
China (CNY): October trade balance, exports and imports will provide fresh evidence of international demand.
United Kingdom (GBP): BRC retail sales data will offer an early indication of consumer spending.
United States (USD): Fed Governor Christopher Waller speaks, while the Bank of Canada publishes its October policy deliberations.
Wednesday, November 11
Germany (EUR): Final October HICP inflation figures will help confirm the latest price trends across Europe's largest economy.
Italy (EUR): September industrial production will provide an update on manufacturing conditions.
New Zealand (NZD): RBNZ-related commentary and its press conference will be monitored for clues about future monetary policy.
United States: Veterans Day. The US bond market will be closed, although equity trading continues.
Canada (CAD): Remembrance Day brings a domestic market holiday and potentially thinner trading conditions.
Thursday, November 12
United Kingdom (GBP): Preliminary third-quarter GDP and September monthly GDP take center stage. Quarterly growth is forecast at 0.7%, compared with 0.5% previously, while monthly growth is expected to slow to zero from 0.1%. Weaker results could revive concerns about the British economy and influence BoE expectations.
United States (USD): Initial jobless claims, expected around 194,000 against 189,000 previously, will provide an update on employment conditions. October existing home sales will also be released.
Japan (JPY): BoJ policymaker Asada speaks, potentially offering further insight into the outlook for interest rates.
Eurozone (EUR): ECB President Christine Lagarde's remarks will be watched for clues about inflation and monetary policy.
Friday, November 13
United States (USD): October PPI and core PPI are the main releases. Producer inflation is expected to rise 0.4% monthly, down from 1.3%, while core PPI is forecast at 0.3%, compared with 0.7% previously. The results could influence inflation expectations and dollar demand.
Eurozone (EUR): Second estimates of third-quarter GDP and employment figures will provide a broader picture of regional economic growth and labor-market conditions.
Germany (EUR): October wholesale prices will offer additional insight into inflationary pressures.
Canada (CAD): September manufacturing sales will provide an update on industrial activity.
United States (USD): Federal Reserve officials' speeches may add further direction to interest-rate expectations.
Sterling remains relatively resilient despite retreating from recent highs. The pair is consolidating around the 1.3400 region after recovering from Friday's decline.
The Bank of England's latest rate increase continues to provide underlying support, although the stronger dollar has limited further appreciation.
Factors Affecting the Pair
The BoE's increase to 4.00% and expectations of further tightening support sterling.
UK GDP figures due Thursday, with quarterly growth forecast at 0.7%, will provide an important assessment of economic resilience.
US inflation data remains the immediate driver of dollar sentiment. Stronger inflation could renew pressure on the pound.
Support Levels: 1.3370, 1.3345, 1.3329, 1.3300, 1.3267, 1.3231
Resistance Levels: 1.3402, 1.3455, 1.3498
Forecast
- The outlook is neutral with a slight recovery bias while sterling holds above 1.3370. A sustained move above 1.3402 could encourage a test of 1.3455, while disappointing UK growth or stronger US inflation could push the pair lower.
Current Structure: Sterling has surrendered its recent gains, falling toward 1.3340 as stronger US inflation revived dollar demand. The Bank of England's recent rate increase to 4.00% and expectations of UK inflation reaching 5% next year continue to provide fundamental support. However, the stronger dollar is currently outweighing these advantages.
Factors Affecting the Pair: Fed tightening expectations, UK inflation, gilt yields and Thursday's third-quarter GDP report.
Forecast: The near-term outlook is bearish while sterling remains below 1.3400. A sustained recovery above this area could improve sentiment, but disappointing UK growth figures may extend the decline.
Sterling remains weak against the dollar, trading around 1.3275 after retreating from 1.3400.
The latest decline reflects renewed dollar demand and uncertainty surrounding the UK economic outlook.
Factors Affecting the Pair
The BoE's recent rate increase to 4.00% provides some support for sterling.
Persistent wage and inflation pressures could keep policymakers cautious about easing.
Today's Q3 GDP report is important, with markets expecting 0.7% growth against 0.5% previously.
Strong US inflation and hawkish Fed comments continue to limit recovery attempts.
Support Levels: 1.3267, 1.3231, 1.3188
Resistance Levels: 1.3317, 1.3355, 1.3402, 1.3455, 1.3498
Forecast
- The outlook remains bearish below 1.3355. Weak UK growth could extend losses toward 1.3231, while stronger GDP figures may help sterling recover. The dollar's direction remains equally important.
Sterling remains under pressure, with GBP/USD slipping toward 1.3238 after failing to maintain its recent recovery.
Despite stronger UK GDP and industrial production figures, the pound has struggled to withstand broad dollar demand.
Factors Affecting the Pair
UK economic growth of 0.7% quarterly and improving manufacturing output provide some underlying support.
The Bank of England's hawkish stance also offers protection against deeper losses.
However, rising US inflation, Treasury yields above 5.10% and expectations of further Fed tightening continue to favor the dollar.
Support Levels: 1.3231, 1.3188, 1.3150, 1.3100 Resistance Levels: 1.3284, 1.3317, 1.3355, 1.3402, 1.3455 Forecast
- The near-term outlook remains bearish unless sterling recovers above 1.3284. Continued dollar strength could push the pair toward 1.3188, while stronger buying interest may produce a corrective rebound. UK economic resilience remains an important counterweight.
