Market Summary - November 12, 2026

Key Economic Indicators and Market Movements

The economic landscape on November 12, 2026, was marked by significant developments in various regions, particularly focusing on Japan's Producer Price Index (PPI), Nvidia's stock performance, and upcoming economic data releases from the UK and the US.

Japan's Economic Indicators

Japan's October PPI rose by 7.1% year-on-year, surpassing expectations of 6.5%. This increase indicates persistent cost pressures within the economy, reinforcing the likelihood of interest rate hikes by the Bank of Japan. Asada, a board member of the Bank of Japan, highlighted the economy's transition towards stable inflation, suggesting a gradual approach to policy tightening.

In Australia, consumer inflation expectations remained steady at 5.3%, while the UK RICS house price balance showed a cooling sentiment in the housing market, recording a decline to -36%.

Geopolitical Developments

Geopolitical tensions were evident with reports of US-Russia diplomatic engagements in the Middle East, alongside ongoing Russian military actions in Ukraine. In the US, scrutiny over Nvidia's export documentation to China intensified amid espionage concerns, leading to a significant drop in Nvidia's stock by over 7% in after-hours trading. This decline was compounded by potential leadership changes within the company, including the removal of CEO Jensen Huang due to allegations of misconduct.

Upcoming Economic Releases

The European session was anticipated to deliver crucial economic data from the UK, including preliminary Q3 GDP growth and industrial production figures. The afternoon was set to focus on US labor market data, including weekly jobless claims and existing home sales, alongside speeches from key central bank officials from the Federal Reserve and the European Central Bank.

Key Economic Releases Scheduled

• 08:00 CET: United Kingdom - GDP MoM (Consensus: 0.0%)
• 14:30 CET: USA - Jobless Claims (Consensus: 194K)
• 16:00 CET: USA - Existing Home Sales (Consensus: 3.89M)
• 20:30 CET: Eurozone - Speech by ECB President Christine Lagarde

Market Focus

The GBP/USD currency pair was expected to react strongly to the UK data releases, which would influence market expectations regarding future actions by the Bank of England. Additionally, crude oil prices were under scrutiny due to geopolitical tensions, particularly in the Black Sea and Middle East, with volatility anticipated following the release of US crude inventory data.

US Treasury yields were also in focus, with the combination of jobless claims data, a 30-year bond auction, and multiple speeches from Federal Open Market Committee members likely to cause significant movements across the yield curve.

Corporate Earnings to Watch

Key corporate earnings reports were expected from major companies, including:

• Cisco Systems, Inc. (CSCO): EPS forecast: 1.15 USD
• Applied Materials, Inc. (AMAT): EPS forecast: 4.06 USD
• Brookfield Corporation (BN): EPS forecast: 0.72 USD

These earnings reports are crucial indicators of corporate spending trends and the overall health of the technology and infrastructure sectors.