Market News

The eurozone economy is losing momentum, with France’s unexpected contraction adding to concerns about the sustainability of the region’s recovery. Gross domestic product (GDP) across the 21-nation currency bloc increased by 0.4% in the third quarter of 2026, slowing from 0.6% in the previous three months. However, the latest figures reveal significant differences between member states, with France struggling to maintain economic growth amid mounting fiscal and political pressures.

Gross domestic product (GDP) Euro area & EU - Source: Eurostat

The French economy contracted by 0.1% between July and September, disappointing expectations and highlighting the challenges facing the…

• Prior month 51.5 

Details:

• Manufacturing PMI: 49.6. Prior 51.5. First reading below 50 in 2026 and lowest since December 2025.

• Production: First decline since March.

• New orders: Steepest contraction in over a year.

• Export orders: Fifth consecutive monthly decline, with the sharpest fall since January.

• Supplier delivery times: Greatest deterioration since August 2022.

• Input costs: Fastest increase since June 2022.

• Selling prices: Strongest inflation in over four years.

• Employment: First net decline since March.

Canada’s manufacturing sector slipped back into contraction in October, according to S&P Global. The Manufacturing Purchasing Managers’ Index fell to 49.6 from 51.5 in September, with tariffs and geopolitical uncertainty weighing on domestic…

Friday’s decline finds willing buyers

Bitcoin sellers pushed the price to its lowest level since September 17 on Friday as stocks fell sharply. However, the decline stalled against key technical support near $76,052, where the 100 day moving average and the 38.2% retracement of the move up from the July 1 low converged.

That support gave buyers a defined level to lean against, and the price rebounded over the weekend. The recovery extended above the 100 hour moving average and reached approximately $78,740 before rotating back to the downside.

The price is currently trading near $77,741, back below its 100 hour moving average at $77,912. That puts the sellers back in the stronger position in the short term.

What would give buyers more…

• Preliminary 56.0
• Prior month 55.9

Details for October 2026 from the S&P Global: 

• Manufacturing PMI: 54.9. Prior 55.9, a 52-month high.

• Employment: Strongest growth since April 2021.

• Selling prices: Fastest increase since September 2022.

• Supplier delivery times: Greatest lengthening since August 2022.

• New orders: Growth slowed to its weakest since March.

• Export orders: Rose marginally for the first time since June 2025.

US manufacturing continued to expand solidly in October, but growth lost some momentum. According to the supplied S&P Global report, the Manufacturing Purchasing Managers’ Index slipped to 54.9 from 55.9 in September, remaining above the 50.0 expansion threshold for a fifteenth consecutive month. Output and new orders increased at…

Headlines:

• US midterms 2026: Is Trump about to lose his grip on Congress?
• US midterms 2026: Where are Republicans most vulnerable in the battle for Congress?
• Crude oil opens the week lower and extends the losses as US-Iran deal hopes return. What's next?
• European stock market open: Stocks kick start November trading more cautiously
• Chart of the day: Gold is in trouble and things could get a whole lot uglier
• Gold bounces from a key support zone as hopes for US-Iran deal strengthen. What's next?
• BOJ continues to reaffirm that inflation is here to stay, so what's stopping another rate hike?
• Germany retail sales slump in September as consumer weakness adds to ECB's headache
• Eurozone manufacturing PMI holds up in October but rising price pressures give…

November trading begins with a sharp decline in crude oil and another round of headlines surrounding negotiations between the US and Iran. The overnight/weekend reports point to continued diplomatic engagement, but conditions surrounding sanctions and the reopening of the Strait remain significant hurdles.

Iranian negotiators left Doha on Sunday, although sources said their departure was not due to difficulties in the negotiations. A draft proposal has been circulated for feedback, and a follow-up meeting remains possible.

Iranian foreign ministry spokesman Baghaei said messages continue to be exchanged and that the US must make a decision. He described the issues as complex and presented Iran’s willingness to compress implementation of its…

The Nasdaq sold off sharply last week driven primarily by AI-related and technology stocks. Concerns about the profitability of massive AI investments, disappointing corporate earnings and rising financing costs triggered a sharp rotation away from Big Tech.

Investors started to question whether the enormous amounts being invested in AI infrastructure will generate sufficient returns to justify the expenditure.

Keep in mind that AI investment became a significant contributor to US economic growth, so a prolonged reduction in spending could negatively affect the broader economy.

The selloff, though, started weeks ago as macro and geopolitical headwinds intensified. The…

Iran's President Pezeshkian said the Supreme Leader has granted the government certain authorities regarding negotiations, according to the state-run ISNA news agency. The markets are taking this as a signal for greater flexibility and potentially strengthen the government's ability to reach a deal with the US.

As a reminder, strategic decisions remain under the authority of the Supreme Leader, so any progress requires alignment between the Supreme Leader and negotiators.

Iran has already proposed a two-day framework to reopen the Strait of Hormuz conditional to its demands being met, which include the lifting of the blockade, the release of frozen funds and sactions relief among others.

This a shorter timeline that the seven-day framework…

Iranian President Pezeshkian commented on dialogue and the war, according to ISNA:

• War will not be in anyone’s interest, and the enemies will not be able to force us to surrender through it.

• The Supreme Leader has granted the government some authority on dialogue.

The supplied market update reports a risk-on reaction: oil and the dollar are moving lower, with US equity futures, Treasuries and spot gold moving higher.

Analysis:

The key phrase is “some authority on dialogue.” That suggests an opening for talks, but the scope of that authority remains unclear. Pezeshkian’s warning against forcing Iran to surrender also shows that the diplomatic message comes with conditions.

For traders, the initial reaction points toward hopes for easing…

Tuesday’s midterm elections will determine whether Republicans retain control of Congress or Democrats gain the ability to slow President Donald Trump’s agenda during the final two years of his term (and cause other headaches for President Trump).

The numbers are straightforward: Democrats need a net gain of three House seats to reach the 218-seat majority threshold. In the Senate, Republicans hold a 53–47 advantage. Democrats need four net gains to reach 51, as a 50–50 split would leave Republicans in control through Vice President JD Vance’s tie-breaking vote.

Senate: The Republican seats Democrats need to flip

North Carolina and Maine are central to the Democratic path. In North Carolina, former Democratic Gov. Roy Cooper faces Republican…

One of the most famous quotes in financial markets comes from economist John Maynard Keynes "markets can remain irrational longer than you can stay solvent".It captures one of the most important lessons in trading: being fundamentally correct does not necessarily mean making money.

Traders often identify situations where asset prices appear disconnected from fundamentals. A stock may look overvalued or a currency may be excessively strong. However, recognising a mispricing and successfully trading it are two different things.

Imagine a traders believes a stock is significantly overvalued and decides to short it at $100, expecting it to fall towards $80. Instead, the stock continues rising to $120 or even $140, despite no meaningful…

Elev8, a global CFD broker serving more than 18 million trading accounts across more than 100 countries, announces a decision to lower trading spreads for new clients who register between 22 October and 30 November 2026. Spreads on gold (XAUUSD) at Elev8 now start from 2.4 pips, down 23% from ~3.1 pips. The roll-out marks the launch of Elev8's Month of Golden Opportunities, a multi-stage promotional campaign running until 30 November 2026, with further features planned in the coming weeks.

Under the Month of Golden Opportunities campaign, Elev8 is reducing transaction costs on 12 instruments: major currency pairs, gold, the US30 index, and cryptocurrencies.…