Forex news today: gold (XAUUSD) slid about 2.8% for a third straight losing day to around $3,877, while the dollar index (DXY) strengthened further to around 103.18, a 19-month high. The US 10-year Treasury yield jumped to around 5.11% as crude oil rallied and markets added to bets on a Fed rate hike. Today, watch US PPI at 13:30 GMT.
Updated Thu 12 Nov 2026 · 23:45 GMT · Prices as of the New York close Thu 12 Nov 2026
Key takeaways
- 1Gold fell about 2.8% to around $3,877, its third straight losing day after breaking below $4,000 on Wednesday, pressured by a stronger dollar and rising yields at the same time
- 2The dollar index (DXY) rose to around 103.18, a 19-month high, and the US 10-year yield climbed about 0.12 percentage point to around 5.11%. Futures markets price about 29bp of Fed tightening in December
- 3WTI crude rose about 2.6% to around $88.74 after Trump said the US does not need a deal with Iran, alongside reports of attacks on Saudi energy infrastructure
- 4Today brings US PPI for October on Fri at 13:30 GMT, forecast +0.4% from +1.3%, and the second estimate of eurozone Q3 GDP at 10:00 GMT. Full preview: US PPI preview
Events Fri 13 Nov 2026
- Eurozone GDP Q3 (second estimate)Forecast +0.4% q/q · flash +0.4% · 1.3% y/yMED
- US producer price index PPI (Oct)Forecast +0.4% m/m · prior +1.3% · core forecast +0.3% (Sep +0.7%)Headline PPI y/y: prior 6.3% · forecast about 6.6%Due Fri 13:30 GMTHIGH
- Fed speakers: Bowman and DalyAfter the PPI data · Markets watch for December hike signalsMED
- Crude oil / Middle EastWatch US–Iran headlines and attacks on Saudi energy infrastructureLOW
Market overview
Approximate prices around the New York close on Thursday 12 Nov 2026 from Reuters and Trading Economics · ▲▼ vs. the previous close (approximate) · Gold is the spot price and WTI the contract settlement as reported by Reuters · GBP/USD and AUD/USD from Trading Economics only
Gold slides 2.8%, dollar at a 19-month high, yields top 5.1%
On Thursday (12 Nov) the US 10-year Treasury yield rose about 0.12 percentage point (about 12bp) to around 5.11%, its highest since 21 Oct, while the 2-year yield climbed to around 4.87%. The move was driven by surging oil prices after Trump said the US does not need a deal with Iran, on top of this week’s hotter-than-expected CPI. Futures markets price about 29bp of Fed rate tightening in December, Reuters reported.
The dollar index (DXY) extended gains, up about 0.3% to around 103.18, a 19-month high. The euro (EUR/USD) weakened to around 1.1053 and the pound to around 1.3231, even though UK Q3 GDP came in at +0.7% as expected (prior quarter +0.5%), while USD/JPY held around 159.85. In US data, initial jobless claims came in at 200K, above the 195K forecast, and October existing home sales fell to 3.75 million units, below the 3.85 million expected.
Gold (XAUUSD) fell about 2.8% to around $3,877, its third straight losing day, pressured by the dollar, yields and inflation worries from energy prices. WTI crude settled around $88.74, up about 2.6%, and Brent around $95.82, even as the EIA reported a US crude inventory build of about 4.66 million barrels. In equities, the S&P 500 fell about 0.35% after Jensen Huang resigned as Nvidia CEO, with Nvidia shares down about 4.3%. Catch up on the previous day in Forex News 12 Nov.
Asset by asset
Gold down three days in a row to around $3,877
Gold closed Thursday around $3,877, down about 2.8%. If the dollar and yields keep rising, gold could be pushed toward $3,850 and $3,800. On the upside, $3,900 may be first resistance, followed by the psychological $4,000 level it broke below. Today’s PPI could trigger sharp swings both ways. See the latest gold analysis →
Euro near 1.1053, testing the 1.1050 zone
The euro (EUR/USD) weakened about 0.3% to around 1.1053, near the 1.1050–1.1000 zone some analysts are watching. A hotter-than-expected US PPI could push the euro down to test 1.1000 and 1.0950, while a softer print could let it recover toward Wednesday’s close around 1.1094 and 1.1150. The second estimate of eurozone Q3 GDP is due at 10:00 GMT.
USD/JPY steady just below 160
USD/JPY edged up to around 159.85 despite the jump in US yields. The 160.00 level remains 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 158.50.
What to watch today
At 10:00 GMT the eurozone releases the second estimate of Q3 GDP, expected at +0.4%, unchanged from the flash reading. At 13:30 GMT the US publishes October PPI, forecast at +0.4% m/m, slowing from +1.3%, with core expected at +0.3%. Fed officials Bowman and Daly are due to speak after the release. The data could add to or reduce bets on a Fed hike at the 8–9 Dec meeting. See all central bank meeting dates in the central bank rates table.
- Eurozone GDP Q3 (second estimate)Fri 10:00 GMT
- US PPI (Oct)Fri 13:30 GMT
- US jobless claimsThu 19 Nov 13:30 GMT
- US retail sales (Oct)Tue 17 Nov 13:30 GMT
Our view
Markets faced pressure from three directions at once, rising oil, rising yields and a stronger dollar, so gold fell sharply for a third day. Today’s PPI is the last inflation reading of the week and may decide whether the selling in gold pauses or continues.
- 1A 5.1% yield is the key variableIf yields keep rising, gold and risk assets may stay under pressure; if they ease, selling could slow
- 2Oil is an inflation riskUS–Iran and Middle East headlines could swing oil and the dollar throughout the day
- 3Big data on a Friday before the weekly closeLiquidity may thin out late in the session; consider reducing position size and set a stop loss on every order
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Sources (14)
- Reuters via Euronext – Market close: yields / dollar / gold / oil (12 Nov)
- Trading Economics – Currencies (12 Nov)
- Trading Economics – DXY at a 19-month high (12 Nov)
- Trading Economics – Gold (12 Nov)
- Trading Economics – Crude Oil / EIA (12 Nov)
- Trading Economics – US 10Y Yield (12 Nov)
- Trading Economics – UK GDP Q3 (12 Nov)
- Trading Economics – US Jobless Claims (12 Nov)
- Trading Economics – US Existing Home Sales (12 Nov)
- Trading Economics – Euro Area GDP Q3 calendar
- FinanceCalendar – US PPI 13 Nov
- Xoomar – US Economic Calendar 9–17 Nov
- Global Macro Week Ahead – PPI / Bowman, Daly
- MQL5 – Market briefing EUR/USD (12 Nov)
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