Forex news today: the dollar index (DXY) strengthened for a second day, up about 0.6% to around 102.89 after several Fed officials signalled a hawkish stance. Gold (XAUUSD) fell below $4,000 to around $3,994 and USD/JPY broke above 159 to around 159.83. Today, watch UK GDP Q3 at 07:00 GMT and US jobless claims at 13:30 GMT.
Updated Thu 12 Nov 2026 · 00:41 GMT · Prices as of the New York close Wed 11 Nov 2026
Key takeaways
- 1The dollar index (DXY) extended gains, up about 0.6% to around 102.89, following Tuesday’s hotter-than-expected US CPI. Chicago Fed President Goolsbee called the inflation report “almost concerning”, CNBC reported
- 2Gold fell below the psychological $4,000 level to around $3,994, down about 1% from around $4,032, its second straight losing day
- 3USD/JPY rose above 159 to around 159.83; the euro weakened to around 1.1094 and the pound to around 1.3279 ahead of UK GDP
- 4Today brings UK GDP Q3 on Thu at 07:00 GMT, US jobless claims at 13:30 GMT and several Fed speakers, while US PPI is due Friday at 13:30 GMT
Events Thu 12 – Fri 13 Nov 2026
- UK GDP Q3 (preliminary)Forecast +0.7% q/q · prior +0.5% · y/y forecast 1.7%The pound weakened to around 1.3279 ahead of the releaseDue Thu 07:00 GMTHIGH
- UK monthly GDP (Sep) / industrial productionGDP forecast 0.0% m/m · prior +0.1% · industrial production forecast −0.4%MED
- US initial jobless claimsForecast 195K · prior 189KHIGH
- Fed speaker: HammackFollowed by Barr after 15:00 GMT · Markets watch for December hike signalsMED
- US existing home sales (Oct)Forecast 3.98 million units · prior 3.99 million unitsLOW
- US EIA crude oil inventories (weekly)Delayed after the holiday · API reported a build of about 9 million barrelsMED
- Fed speaker: WilliamsThu 12 Nov, late US sessionMED
Market overview
Approximate prices around the New York close on Wednesday 11 Nov 2026 from Trading Economics · ▲▼ vs. the previous close (approximate) · Gold and oil are CFD prices, not official benchmarks · The US bond market was closed on Wednesday (Veterans Day)
Dollar extends gains, gold breaks below $4,000, yen weakens past 159
On Wednesday (11 Nov) markets were still digesting October’s US CPI, which rose 0.4% vs. the 0.3% forecast, with core up 0.3% vs. 0.2% expected, released on Tuesday. Chicago Fed President Austan Goolsbee called the report “almost concerning”, CNBC reported. That followed Waller, who opened the door to a 0.50% rate hike in December, and Logan, who backed at least two more hikes. Markets now see a hike at the 9 Dec meeting as the base case, while the odds of a 0.50% move are around 11–15%, according to CME FedWatch as cited by several outlets
The dollar index (DXY) extended gains, up about 0.6% to around 102.89; the euro (EUR/USD) weakened about 0.6% to around 1.1094 and USD/JPY rose above its 14 Oct high (158.95) to around 159.83, while the US bond market was closed for Veterans Day, leaving liquidity thinner than usual
Gold (XAUUSD) extended Tuesday’s losses, breaking below $4,000 to around $3,994, down about 1% from around $4,032. Kitco reported that some analysts warn it could slide further toward $3,900. WTI crude rose about 0.4% to around $86.35 on tensions in the Strait of Hormuz, even as the API reported a crude build of about 9 million barrels. Catch up on the previous day in Forex News 11 Nov
Asset breakdown
Gold breaks $4,000, down two days in a row
Gold closed Wednesday around $3,994, down about 1% after breaking the psychological $4,000 level. If the dollar stays strong, gold could be pushed toward $3,950 and $3,900, levels some analysts are watching. On the upside, $4,000 may become first resistance, followed by Tuesday’s close around $4,032. Latest gold analysis →
Pound near 1.3279 ahead of Q3 GDP
The pound (GBP/USD) weakened about 0.5% to around 1.3279 as the dollar extended gains. Markets expect Q3 GDP growth of 0.7% q/q, up from 0.5%. A stronger-than-expected print could lift the pound back toward Tuesday’s close around 1.3346 and 1.3400, while a weaker one puts support at around 1.3250 and 1.3200
USD/JPY breaks 159, nears 160
USD/JPY rose about 0.7% to around 159.83, above its previous 14 Oct high around 158.95. The 160.00 level is key resistance where markets are usually wary of intervention by Japanese authorities. A break higher would put the next resistance around 160.50, with support around 159.00 and 158.74 (Tuesday’s close)
What to watch today
The UK releases preliminary Q3 GDP at 07:00 GMT, with markets expecting 0.7% q/q growth. At 13:30 GMT the US publishes initial jobless claims, forecast at 195K from 189K, and several Fed officials are due to speak, including Hammack and Barr later in the day, followed by Williams late in the US session. The US bond market reopens today after the holiday, so yields could move sharply. See all central bank meeting dates in the central bank rates table
- UK GDP Q3 (preliminary)Thu 07:00 GMT
- US jobless claimsThu 13:30 GMT
- US PPI (Oct)Fri 13:30 GMT
- Australia unemployment rate (Oct)Thu 19 Nov 00:30 GMT
Our view
The dollar strengthened for a second day as several Fed officials agreed that inflation remains a concern, pushing gold below $4,000 and the yen weaker toward 160. With the US bond market reopening today, moves in yields and Fed commentary may set the next direction
- 1$4,000 is gold’s dividing lineReclaiming it could signal easing selling pressure, but staying below may keep the pressure on
- 2Watch 160 on USD/JPYMarkets are usually wary of intervention in this zone, so prices could swing sharply both ways
- 3Busy news flow all dayUK GDP, US jobless claims and several Fed speakers; consider reducing position size and set a stop loss on every order
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Sources (11)
- Trading Economics – Currencies (11 Nov)
- Trading Economics – DXY / Fed (11 Nov)
- Trading Economics – Gold (11 Nov)
- Trading Economics – Crude Oil / API (11 Nov)
- Kitco – Gold below $4,000 (11 Nov)
- Goldstock – Goolsbee via CNBC / calendar (11 Nov)
- MQL5 – Market outlook USD/JPY (11 Nov)
- Nexo – Markets today / FedWatch (11 Nov)
- AskTraders – Week ahead UK GDP / claims
- TechFlow – 12 Nov key data & Fed speakers
- Trading Economics – UK GDP Q3 calendar
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