The trading week has not been particularly favorable for risk appetite in the short term, and this is now becoming increasingly evident in the performance of the S&P 500. During today's session, the index is down nearly 4.2%, marking its largest intraday decline of 2026.
Friday’s U.S. and Canadian employment reports could trigger a decisive USD/CAD move as bulls and bears battle for control at critical support.
Although GBP/USD has gained close to 0.5% over the last three trading sessions, reflecting a period of relative strength for the British pound, today's session has started to show a more neutral tone and the bullish momentum seen earlier in the week has begun to slow.
Traders are still sifting through the fallout of the US midterm elections, just in time to get hit with another volatility: The monthly Non-Farm Payrolls (NFP) report - what will the jobs report show, and what could it mean for the US dollar?
U.S. trade sharply lower investors resume the chip selloff as the post-election euphoria is quickly unwound and as attention turns to upcoming economic data.
DXY bulls are attempting to defend a pivotal technical threshold, with the next reaction likely to determine whether the broader recovery survives.
The Democratic sweep in the US midterms delivered the negative dollar reaction I had anticipated, but that upsurge in stocks was not something I or many others had anticipated. Fears that a Democrat-controlled Congress would trigger a broader sell-off in technology stocks proved premature. Nevertheless, the sector remains under pressure. The political outcome may help explain the Nasdaq’s relative underperformance with futures falling 0.8% today. Sharp falls in shares of Arm and Qualcomm following their results are certainly not helping. While the removal of midterm uncertainty provided a broad-based boost to risk appetite yesterday, investors may be starting to price in the prospect of tighter regulatory scrutiny of Big Tech, particularly around AI, under greater Democratic influence in Congress. This could become a headwind for technology valuations, even if the immediate impact on corporate earnings remains unclear.
The U.S. Dollar Index, Brent and WTI are rebounding from key support levels and oversold conditions after steep sell-offs. U.S.–Iran tensions, inflation risks and rate expectations remain in focus.
The GBP/USD was holding near the 1.35 handle after the Bank of England raised interest rates to 4% in a unanimous 9-0 vote, against expectations of a 7-2 split. The cable has also benefited from the US dollar's slide after the midterm elections, although Friday's non-farm payrolls report still lies ahead which could have a more meaningful impact.
The DAX has surged to fresh record highs as investors continue to rotate into banks, industrials and cyclical stocks following the US midterm elections. Falling bond yields, lower oil prices and improving sentiment have supported risk appetite across Europe, helping the index move decisively above 26,000. The focus now shifts from political relief to whether earnings and macroeconomic data can justify the rally's next leg higher.
FTSE climbs ahead of the BoE boosted by banks and miners. EUR/USD rises as oil prices fall but gains could be limited.
The Democratic blue wave has sent crude and Treasury yields sharply lower, improving the outlook for precious metals. With gold already breaking higher, could silver be next?
The trading week has started on a relatively positive note for Bitcoin in the short term. The leading cryptocurrency has regained buying momentum and is up more than 3.5% during the session, reflecting a meaningful improvement in demand.
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