North American Summary and Highlights 12 November

November 12, 2026 7:34 PM UTC

Overview - The USD advanced further as rising oil prices added to inflation concerns. 

Preview: Due December 4 - Canada November Employment - Avoiding a fourth straight decline

November 12, 2026 6:49 PM UTC

We expect Canadian employment to increase by 15k in a correction from three straight declines. GDP growth is likely to be slow in Q4 due to US tariffs but is unlikely to be negative, and that argues against a negative employment trend. We expect unemployment to slip back to 6.6% from 6.7%, while rem

Preview: Due November 25 - U.S. October New Home Sales - Several signals for weakness

November 12, 2026 5:56 PM UTC

We expect a 6.1% decline in October new home sales to 635k, which would be the lowest level since February. Even this would leave new home sales looking more resilient than other measures of housing demand.

Chart USD/BRL Update: Extending gains

November 12, 2026 5:37 PM UTC

Consolidation following sharp gains has given way to fresh buying interest

Chart USD/CAD Update: Balanced around 1.4250 - studies remain positive

November 12, 2026 4:40 PM UTC

No change to the bullish tone, as prices extend gains in USD- and CAD-driven trade to test levels around congestion resistance at 1.4250

Monthly US Chart 10 Year Yield: Further losses to give way to consolidation

November 12, 2026 3:18 PM UTC

The anticipated pullback from the 19-year high at 5.365% of 7 October has broken below 5.000% to reach 4.814%

U.S. October Existing Home Sales - Rising mortgage rates having an impact

November 12, 2026 3:13 PM UTC

October existing home sales have resumed a negative trend with a steep 5.5% decline to follow a 1.0% increase in September, which was the first rise in four months. The level of 3.75m is the weakest since August 2010.

Chart AUD/USD Update: Extending May losses

November 12, 2026 2:31 PM UTC

Cautious trade has given way to fresh selling interest

Chart EUR/JPY Update: Extending cautious trade

November 12, 2026 2:21 PM UTC

Still little change

Chart USD/JPY Update: Consolidating USD- and JPY-driven gains - studies rising

November 12, 2026 2:13 PM UTC

The anticipated test of resistance at the 159.75 Fibonacci retracement and congestion around 160.00 is giving way to consolidation

U.S. Fed's Hammack - Prefers smaller, steadier, tightening

November 12, 2026 2:10 PM UTC

Cleveland Fed President Hammack is a hawk so it is significant that she seems to prefer moving by 25bps in December.

DXY flows - Trump goes sour again on Iran; dollar consolidates, in uptrend

November 12, 2026 1:52 PM UTC

Less positive Iran comments, oil steadying from pullback to support
DXY remains in its medium-term uptrend

US Initial Claims still low but rise merits some attention

November 12, 2026 1:41 PM UTC

Initial claims at 200k remain very low, though have risen to a 4-week high from last week’s 191k (revised from 189k, which matched the July 18 low). The survey week for November’s non-farm payroll comes next week.

Preview: Due November 13 - U.S. October PPI - Firm if less so than in September

November 12, 2026 12:59 PM UTC

We expect October PPI to increase by 0.4% overall and 0.3% ex food and energy, still too high for comfort but considerably slower than respective gains of 1.3% and 0.7% in September. Ex food, energy and trade, we expect only a marginal slowing, to 0.4% from 0.5% in September.

Chart NOK/SEK Update: Consolidating test of support - background studies under pressure

November 12, 2026 12:42 PM UTC

The steady fall to support at 1.0400 has extended to 1.0350

Chart EUR/CHF Update: Consolidating recent gains

November 12, 2026 11:48 AM UTC

Anticipated tests higher have met selling interest at congestion resistance at 0.9250

FX Daily Strategy: N America, Nov 12

November 12, 2026 10:08 AM UTC

Dollar extends as market adjusted to shift in inflation scenarios, many pairs at some next decision levels now
Low yielders especially pressured again, while risk holds up
UK GDP robust, continues to defy challenging backdrop

Chart USD/CHF Update: Consolidating gains - daily studies rising

November 12, 2026 9:27 AM UTC

Anticipated gains are giving way to consolidation beneath resistance at 0.8350

Chart EUR/GBP Update: Consolidating gains - room for a minor drift lower

November 12, 2026 9:16 AM UTC

Little change, as prices extend cautious trade around 0.8355

Chart USD Index DXY Update: Fresh year high - studies improving

November 12, 2026 8:56 AM UTC

Anticipated gains have posted a fresh year high just above the 102.85 Fibonacci retracement and congestion around 103.00

Chart EUR/USD Update: Balanced above fresh year low - studies under pressure

November 12, 2026 8:39 AM UTC

Anticipated losses have posted a fresh year low at the 1.1065 monthly low of 12 May 2025

Chart GBP/USD Update: Balanced at support - studies under pressure

November 12, 2026 8:28 AM UTC

The test of congestion support at 1.3250 is giving way to anticipated consolidation