Freemium Content

November 28, 2025

Canada Q3 GDP rebounds as imports plunge but domestic demand marginally negative

November 28, 2025 2:14 PM UTC

Canada’s 2.6% annualized increase in Q3 GDP id sharply higher than expected though the surprise comes largely from a sharp fall in imports. Domestic demand was almost unchanged with a 0.1% annualized decline. September GDP grew by 0.2% on the month, but the preliminary estimate for October is weak

This week's five highlights

November 28, 2025 10:00 AM UTC

No More Cut Signaled by RBNZ
More Detail on Japan Stimulus
U.S. Fed's Waller Advocating ease on labor market concerns
U.S. September Retail Sales lose momentum, PPI strong in goods but weak in services
UK Budget Shows Deferring the Fiscal Pain

Chart USD/CAD Update: Under pressure, room to 1.4000/1.3970 support

November 28, 2025 7:47 AM UTC

Prices remain under pressure following break of the 1.4080 support to open up room for deeper pullback to 1.4000

Chart GBP/USD Update: Consolidating, room for higher later

November 28, 2025 1:42 AM UTC

Still shy of the 1.3300 level as prices consolidate bounce from the 1.3038 low of last week

November 27, 2025

ECB: Financial Stability Review Less Complacent than Council?

November 27, 2025 1:36 PM UTC

The ECB is clearly split about whether policy has troughed or not, this mainly a result of differences within the Council as to where inflation risks lie. Regardless, as the account of the Oct 29-30 Council meeting chimed with comments from the meeting’s press conference, it does seem to us as i

Chart USD/CAD Update: Extending pullback from 1.4130/40 highs

November 27, 2025 8:14 AM UTC

Consolidation at the 1.4100 level has given way to break of the 1.4080 support to open up room for deeper pullback

Chart GBP/USD Update: Extending gains, room to 1.3300/23 next

November 27, 2025 1:53 AM UTC

Break of the 1.3200/15 resistance see prices extending gains from the 1.3038/1.3010 lows

November 26, 2025

North American Summary and Highlights 26 Nov

November 26, 2025 8:41 PM UTC

Overview - GBP was stronger after the UK budget. The USD saw early gains but these were subsequently erased.

Chart USD/CAD Update: Lower in both USD- and CAD-driven trade

November 26, 2025 4:49 PM UTC

Choppy trade beneath resistance at the 1.4100 break level has given way to a sharp USD- and CAD-driven fall

UK Budget Review: Deferring the Fiscal Pain?

November 26, 2025 2:01 PM UTC

The Budget looks something of a fudge, with no fiscal tightening until 2028 suggesting policy changes very much back-loaded (Figure 1) and puzzlingly timed to take effect in what may be the lead-up to the next general election. The immediate the result is actually a modest boost to GDP growth in t

Chart GBP/USD Update: Poised for further gains

November 26, 2025 8:30 AM UTC

Anticipated gains have reached congestion resistance at 1.3200

Chart GBP/USD Update: Consolidating, room for higher later

November 26, 2025 2:03 AM UTC

Consolidating test of the 1.3200/15 resistance as prices unwind overbought intraday studies

November 25, 2025

North American Summary and Highlights 25 Nov

November 25, 2025 8:47 PM UTC

Overview - The USD was weaker, the move extending after mostly soft US data.

Chart USD/CAD Update: Consolidating within 1.4100/40

November 25, 2025 5:01 PM UTC

Little change

U.S. September Retail Sales lose momentum, PPI strong in goods but weak in services

November 25, 2025 2:08 PM UTC

September retail sales with a rise of 0.2% are weaker than expected and likely to be negative in real terms, given September gains in CPI goods prices, suggesting momentum in consumer spending is starting to fade with employment growth. September’s PPI with a rise of 0.3% overall met expectations

Chart GBP/USD Update: Limited tests higher

November 25, 2025 8:30 AM UTC

Still little change, as prices extend consolidation above support at the 1.3100 break level

November 24, 2025

North American Summary and Highlights 24 Nov

November 24, 2025 8:46 PM UTC

Overview -
Generally quiet trade saw USD/JPY touch highs above 157 and EUR/USD peaking at 1.1550.

Chart USD/CAD Update: Balanced in strong resistance range

November 24, 2025 4:23 PM UTC

Still little change, as prices extend pressure on resistance within the 1.4100 break level and the 1.4140 weekly high of 5-6 November

Chart GBP/USD Update: Gains capped in range

November 24, 2025 8:20 AM UTC

Little change, as prices extend pressure on resistance at the 1.3100 break level

Japan: Carrot (Stimulus) and Stick (Intervention)

November 24, 2025 4:43 AM UTC

PM Takaichi's largest stimulus since COVID and her FM's threat to direct intervene in JPY

November 21, 2025

North American Summary and Highlights 21 Nov

November 21, 2025 8:30 PM UTC

Overview - USD/JPY moved lower in Europe, though the USD was little changed in North America, despite taking a hit as Fed’s Williams lifted hopes for a December easing.

Chart USD/CAD Update: Extending pressure on strong resistance

November 21, 2025 4:39 PM UTC

Little change, as prices extend pressure on resistance within the 1.4100 break level and the 1.4140 weekly high of 5-6 November

This week's five highlights

November 21, 2025 10:00 AM UTC

U.S. September Employment Makes Case for a December easing looks a little weaker
And See Risk Asset Continue its Correction
These Week's Fed Speaker
Japan's Takaichi Outlines More Stimulus
UK CPI Down from Likely Peak

Chart GBP/USD Update: Limited tests higher

November 21, 2025 8:37 AM UTC

Cautious trade is giving way to a drift higher

U.S. Asset Inflows After April’s Trump Tariffs

November 21, 2025 8:00 AM UTC

· Net foreign portfolio inflows have not been hurt by Trump’s April tariff drama, with the AI and tech boom attracting new equity inflows. Flows could become more volatile with a U.S. equity bear market or recession, but these are modest risk alternative scenarios rather than high r