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In today’s article, we’ll examine the recent performance of Alphabet Inc. ($GOOGL) through the lens of Elliott Wave Theory. We’ll review how the powerful rally from the October 2025 low unfolded as a textbook 5-wave impulse and discuss our evolving forecast for the next move.

• OBR release of forecasts is deeply disappointing, serious error
• There will be no return to austerity
• This budget will bring down inflation
• Borrowing will fall as a share of GDP in every forecast year
• OBR forecasts show more than doubled fiscal headroom of £21.7 billion

With the details all laid out there earlier by the OBR, there’s not much for her to really say at this point. It’s just a formality of sorts in getting the message across. In terms of price action, we’re seeing continued pushing and pulling with GBP/USD now back up to 1.3160 from a low of 1.3125 earlier. 10-year gilt yields are still keeping up at 4.52% though.

This article was written by Justin Low at investinglive.com.

EUR/USD holds gains on Wednesday, although it remains capped below the 1.1600 line, trading at 1.1575 at the time of writing.

While there’s ample inventory to choose from, car shoppers may have a hard time finding any generous Black Friday or end-of-year deals.

The Yen is showing the weakest performance of the G8 currencies on Wednesday, which is supporting the USD/JPY to trim previous losses and return to levels near 156.50.

It felt a bit weird initially when reading the headlines that some of the things felt like it should’ve been in the budget. The early release was already a cock up but leaking pretty much all the details of the budget is a screw up of a whole other level I guess. The OBR has now apologised for the incident and are of course blaming it on a “technical error” and said that “it will never happen again”. Jokes.

This article was written by Justin Low at investinglive.com.

Easy come, easy go. The OBR has just done the impossible and unprecedented in basically just breaking the release of the entire (more or less) Autumn Budget. It’s enough to get markets moving with UK chancellor Reeves set to announce £26 billion in tax hikes which will leave her with around £22 billion worth of headroom on the fiscal front. That said, she will be spending almost £12 billion more by the end of the same period. So, yeah.

The pound rallied initially with GBP/USD climbing to hit above 1.3200 but have now given all of the gains back and then some in a fall to 1.3136 on the day. At the same time, UK 10-year yields have also shot back up after a fall to 4.43% and are now at 4.53% on the day.

It’s a rather messy situation overall but unless Reeves messes up her delivery, which really can’t be any much worse than this cock up in terms of release overlap/timing. But it seems that markets are already casting their vote in saying that this should be the last budget that she will deliver. Cue the political backlash.

This article was written by Justin Low at investinglive.com.

The Autumn Budget is due to be announced shortly.

• I’m comfortable with the path for inflation in the next months
• The risk that inflation will undershoot is limited
• I don’t see any de-anchoring of inflation expectations
• Services and wage inflation are progressing positively
• I’m slightly more positive on growth
• Risks are balanced

This article was written by Giuseppe Dellamotta at investinglive.com.

Gold (XAU/USD) edges higher on Wednesday as traders lean into a more dovish Federal Reserve (Fed) outlook, with XAU/USD trading around $4,171, near two-week highs after closing almost unchanged on Tuesday.