United States ADP Employment Change

Euro Area ECB Lane Speech

Canada Balance of Trade

Canada Imports

Futures tracking Canadian stocks rose on Wednesday as Democrats were mostly certain to regain control of both chambers of Congress in the US, raising hopes of easing trade tensions between the two countries. A Democratic majority could constrain some of President Trump’s trade policy decisions. The trade dispute began in February 2025, when Trump signed orders imposing broad tariffs on Canadian goods. The measures took effect in March, alongside Canada’s retaliatory tariffs. Trump later exempted USMCA-compliant goods but imposed additional tariffs on steel, aluminum and automotive imports, including those from Canada. Meanwhile, oil prices edged lower, offering some relief to credit-sensitive sectors pressured by inflation concerns and the risk of higher interest rates. Gold prices climbed, lending support to mining shares.

TSX Futures Rise on Hopes of Easing US-Canada Trade Tensions

US mortgage applications fell 1.2% in the week ended October 30, after a 3.4% rise in the previous period, despite a modest easing in borrowing costs. The average rate on 30-year fixed mortgages with conforming loan balances decreased to 7.3% from 7.37%, reaching its lowest level since September 2026 following the Federal Reserve’s decision to leave interest rates unchanged in October. However, lower rates failed to stimulate demand, with home purchase applications dropping 2% from the previous week. Refinancing activity was broadly stable, rising just 0.1%. Meanwhile, borrowers continued to turn to adjustable-rate mortgages (ARMs) to secure lower initial payments. The average rate on a 5/1 ARM declined to 6.29% from 6.41%, while the share of applications involving these loans reached its highest level since September 2025.

US Mortgage Applications Fall Again: MBA

Italy’s 10-year BTP yield held near 4.44%, easing from its three-year peak to a six-week low while tracking US Treasury yields, which remain sensitive to oil price swings amid US-Iran diplomatic efforts. Further relief came from a Democratic sweep in the US midterm elections. However, elevated energy prices continue to fuel inflationary pressures and concerns over fiscal spending. Eurozone headline inflation climbed to 4% in October, double the ECB’s target. Policymakers have signaled readiness for a third rate hike since the outbreak of the Middle East conflict if the inflation outlook doesn't improve, while markets continue to expect a December hike. Across Europe, governments are increasing energy support to shield households from rising costs ahead of next year’s elections, while cost-of-living protests have spread across the continent, including Italy. Meanwhile, Rome plans to approve a decree this week aimed at limiting the impact of soaring gas prices on electricity costs.

Italy's BTP Yield Slips to 6-Week Low

India’s BSE Sensex closed 0.5% firmer at 77,301 on Wednesday, its highest level since late August and advancing for a fifth straight session. Improving foreign fund inflows, easing crude prices and positive earnings supported market sentiment. The US midterm elections drew investor attention, particularly over their potential implications for Trump's trade and foreign policies. For India, the results come at a sensitive time as trade negotiations continue and visa restrictions remain a concern. Among individual stocks, BEL and Titan were the top performers, each rising over 4%. Conversely, heavyweight counters such as TCS (-2.7%), HCL Technologies (-2.2%) and Infosys (-1.7%) faced selling pressure, on profit-taking amid concerns over global technology demand.

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