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November 12, 2026
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.
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.
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.
Strong UK Growth in Q3, As Expected, Headwinds Still Ahead
November 12, 2026 8:16 AM UTC
The UK economy grew strongly in Q3, as expected, rising 0.7% q/q and boosted by solid activity in the service sector. In quarterly terms this is the strongest increase in two years and AI’s contribution to the economy continues to felt. As in recent quarters, output in that sector was driven by ad
Strong UK Growth in Q3, As Expected, Headwinds Still Ahead
November 12, 2026 8:16 AM UTC
The UK economy grew strongly in Q3, as expected, rising 0.7% q/q and boosted by solid activity in the service sector. In quarterly terms this is the strongest increase in two years and AI’s contribution to the economy continues to felt. As in recent quarters, output in that sector was driven by ad
GBP/USD, USD/JPY flows - UK GDP remains robust, dollar testing into some levels now
November 12, 2026 7:22 AM UTC
UK GDP remains robust at 0.7%q/q and 0.2%m/m in Sep
Cable remains dollar driven, running into next congestion level
Dollar more broadly finding some levels, including 160 on USD/JPY where intervention talk resurfacing