New York Open Briefing: Wednesday, November 4, 2026
The Asian and European sessions hand over a broad move higher across indices and gold. JP225 leads at +4.45% since the reference point, followed by UK100 at +2.80%, DE40 at +2.70%, US30 at +2.68%, and XAUUSD and USTEC both at +2.62%. In currency strength over 24 hours, EUR is strongest at +0.44% and GBP next at +0.32%, while JPY is weakest at -0.43% and USD is at -0.39%. The risk meter reads -0.03 on a scale from -1 to +1, which is essentially neutral despite the size of the index moves.
The main scheduled risk sits at 15:00 UTC with the ISM Non-Manufacturing PMI, where consensus is 55.2 against a previous 54.9. The ISM Services PMI is expected at 54.8 versus 54.9 before. Within the same report, ISM Non-Manufacturing Prices Paid has a consensus of 69.5 against a previous 74, and ISM Non-Manufacturing Employment is expected at 48.3 versus 50.1.
At 15:30 UTC, the EIA Crude Oil Stocks Change has a consensus of -2.481M against a previous -1.892M. EIA Cushing Crude Oil Stocks Change is expected at 0.005M versus -0.624M. Later, the BCB Interest Rate Decision is due at 21:00 UTC, with the previous rate at 13.75%. Australia Employment Change follows on Thursday at 00:30 UTC.
On retail positioning, the EURJPY book moved 8pt toward short in 24 hours, and the AUDJPY book moved 10pt toward short. Retail books disagree by 24 points on AUDUSD and by 20 points on EURJPY.
The single most important item ahead is the ISM Non-Manufacturing PMI at 15:00 UTC.
| At a glance | |
|---|---|
| Biggest moves since the previous session | JP225 +4.45%, UK100 +2.80%, DE40 +2.70% |
| Currency strength, 24h | EUR strongest at +0.44%, JPY weakest at -0.43% |
| Risk meter | -0.03 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 15:00 UTC | USD | ISM Non-Manufacturing Prices Paid | High | 69.5 |
| 15:00 UTC | USD | ISM Non-Manufacturing PMI | High | 55.2 |
| 15:00 UTC | USD | ISM Services PMI | Medium | 54.8 |
| 15:00 UTC | USD | ISM Non-Manufacturing Employment | Medium | 48.3 |
| 15:30 UTC | USD | EIA Crude Oil Stocks Change | High | -2.481M |
| 15:30 UTC | USD | EIA Cushing Crude Oil Stocks Change | Medium | 0.005M |
| 21:00 UTC | BRL | BCB Interest Rate Decision | Medium | – |
| 00:30 UTC | AUD | Australia Employment Change | High | – |
Times are UTC. This brief describes measured market state and the published schedule. It is not financial advice and nothing in it is a trade recommendation.