Here is the spreadsheet with 17 market predictions for next weekend
Selected Currencies
EUR/USD GBP/USD USD/CHF
USD/JPY AUD/USD
NZD/USD US Dollar DXY
Selected Commodities
Spot Gold Copper
Soybeans Corn
WTI Oil Brent Oil
Selected Indices
US Tec/Nasdaq Wall St/Dow
FTSE 100 Germany DAX
My understanding of global financial markets today Sunday 8th November 2026
Last week’s main US Midterm election result led to a Democrat majority in both the House of Congress and the Senate. On paper, this means a reduction of President Trump’s powers.
With many Democrat candidates gaining votes over datacentre concerns, the result triggered a sell-off in AI-related company shares. The Nasdaq index fell by over 5% as stock worth over three trillion plunged in value.
Disappointing company results in some of the AI stock, particularly semiconductor and memory chip manufacturers added to investor fear.
Was the fall from last week just a small correction or part of a bigger crash or even recession? Opinion is divided but the fact that bellwether company Nvidia has shown no sign of slowing suggests the fall of last week is a temporary dip and that demand for the great AI roll-out is not finished yet.
There were also some other odd price movements last week. The price of Brent oil and WTI came crashing down by 10% with news of a Qatari led peace plans for the Gulf.
The US Dollar basket index rose to $102 as investors sought value in the safety of Treasury bonds and the prospects of a rise in Fed interest rates. Further confidence in the Dollar came in the greater than expected rise of new job starts (165,000) coming out of the Non Farm Payroll figures.
It seems strange that Gold plunged in value, dipping well below $4,000 for the first time in months. One would have thought it would rise in value as a safe haven amidst all the uncertainty.
What will happen next week? Will US stocks decline further? Will oil prices stay high?
Just about Oil, it’s worth noting that, following the fractured result of the Israeli general election, yes, Netanyahu is still technically the prime minister, but he has limited power and would find it hard to officially back an American assault on Iran or Kharg Island. It would have to be an Iranian attack that would provoke an Israeli reaction. So will the Iranians voluntarily attack US or Israeli targets when they are trying to re-form an oil supply chain?
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