Price action has been sending dark foreshadowing signs since mid-October, evident in the rapid but inconsistent manner recent all-time highs were reached.As explained in preceding crypto analysis from our blog, the $100,000 level for BTC not only served as a key milestone but was also a pivotal sign of progress in the crypto landscape.Having decisively breached it and extending losses to multi-month lows below $90,000, leveraged investors, late buyers, and trend followers are all scratching their heads.The price action hasn't formed a complete U-turn from the highs yet, but the question is now arising: Is it time for fear and prolonged profit-taking in the crypto market?Or should I say it: Is it time for a Crypto bear market? zoom_out_map Daily overview of the Crypto Market, November 18, 2025 – Source: Finviz After a deadly picture throughout the past 5 days, a rebound seems to be playing out. Is it a dead cat bounce or actual Dip buying ?Comparing to stock bear markets where prices need to correct 20% from highs, things are different in more volatile cryptos – 20% moves in crypto are far too common.Bitcoin has already dropped around 30% from its October high of $126,000 (!)Most altcoins have corrected even further, with Ethereum down around 35% from its August 2025 high and Solana around 50%.Some key technical supports are coming through right now, so let's discover them to assess if we are indeed in Crypto winter or not through a multi-timeframe Bitcoin (BTC) analysis. Read More:US Stocks remain on edge: Why the market is struggling for directionNVIDIA (NVDA) Q3 2025 Earnings Preview: Navigating the AI Stress TestA parenthesis on the Total Market Cap zoom_out_map Total Crypto Market Cap, November 18, 2025 – Source: TradingView The Total Market cap dropped from a $4.27 trillion record to just around $3.13 trillion, a large 26% correction.Looking out, the market still remains above the 2021 record which is proof of the progress Cryptos have made since.Keep an eye on if the Market bounces from here or what happens if we breach the $3.01 trillion level.Bitcoin multi-timeframe technical analysisDaily Chart zoom_out_map Bitcoin Daily Chart, November 18, 2025 – Source: TradingView Bitcoin has steeply corrected since breaking its $100,000 Support, leading to bearish acceleration beyond the downward channel.Still, the $90,000 to $93,000 support is being targeted by dip-buyers as an entry zone when looking at the current rebound in Cryptos.The price action is balanced in the very-short run from the dip-buying, but to relaunch the higher timeframe corrective trend, participants will need to race back above $100,000.Keep a close eye on the price action if Markets come back to this level.A weekly close below the $90,000 opens the door to further downside.4H Chart and technical levels zoom_out_map Bitcoin 4H Chart, November 18, 2025 – Source: TradingView Levels of interest for BTC trading:Support Levels:$90,000 to 93,000 major support (immediate test)Current Weekly Lows $89,340$85,000 mid-term Support (+/- $1,500)$75,000 Key long-term supportResistance Levels:$98,000 to $100,000 Main Support, now Pivot (MA 50 at $100,000)Resistance at previous ATH $106,000 to $108,000Current ATH Resistance $124,000 to $126,000Current all-time high $126,250$116,000 to $118,000 Resistance1H Chart zoom_out_map Bitcoin 1H Chart, November 18, 2025 – Source: TradingView The ongoing dip-buying is strong which allows price action to come back in the more-neutral downward channel. A confirmed break below would have been even more bearish.If bulls maintain the current rebound, a potential retest of the higher bound of the channel could point to a $105,000 retest which should prompt new analysis if prices get there.Still, keep a close eye on three elements:Holding above the $93,380 50-H MA relaunches short-term momentum.Watch what happens at the Major Pivot Zone ($98,000 to $100,000) as it also contains the 200-Hour MA. Above this, mid-term momentum will be back from bearish territory.Keep an eye on any move below the Weekly lows that may trigger further stops.Safe Trades!Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Key takeaways The Japanese yen has been the weakest major currency over the past month, with USD/JPY climbing nearly 3%—outpacing the US Dollar Index’s 0.9% gain—amid political pressure for looser monetary policy.USD/JPY’s surge above 155.00 has heightened FX-intervention risk, prompting verbal warnings from Japan’s Finance Minister over rapid, one-sided yen depreciation.A high-stakes meeting between BoJ Governor Ueda and Prime Minister Takaichi later today could trigger short-term volatility, with technical signals pointing to rising odds of a minor bearish reversal unless USD/JPY breaks above 155.30. In the past month (based on a rolling basis), the Japanese yen has been the weakest major currency against the US dollar. The USD/JPY rose by almost 3% as of Tuesday, 18 November 2025, at the time of writing, surpassing the 0.9% return seen in the US Dollar Index over the same period (see Fig. 1). zoom_out_map Fig. 1: 1-month rolling performances of major currencies against the US dollar as of 18 Nov 2025 (Source: TradingView) The current bout of weakness seen in the Japanese yen has been attributed to political jawboning by the new Japanese Prime Minister, Takaichi’s penchant for an accommodating monetary policy to drive economic growth, going against the Bank of Japan (BoJ)’s current monetary policy stance of gradually rising interest rates as inflation trend in Japan has stablished above BoJ’s 2% long-term target.FX intervention risk has increased with BoJ Ueda-PM Takaichi meeting on the horizon The USD/JPY has surged past the 155.00 psychology level on Monday, 17 November, from the 7 November 2025 low of 152.82, and it continued to trade higher in today’s Asia session, 18 November, as it printed an intraday high of 155.38 to record a 10-month high.The sharp rise in USD/JPY has triggered a verbal warning from Finance Minister Katayama, who reiterated concerns over rapid, one-sided yen moves in the FX market.Separately, a closely watched meeting between BoJ Governor Ueda and Prime Minister Takaichi is scheduled for 3:30 p.m. local time. Any post-meeting comments related to monetary policy could spark meaningful short-term volatility in USD/JPY.Let’s now outline the short-term trajectory for USD/JPY over the next 1 to 3 days, along with the key technical elements and levels to monitor.Preferred trend bias (1-3 days) – Minor bearish reversal below 155.30 zoom_out_map Fig. 2: USD/JPY minor trend as of 18 Nov 2025 (Source: TradingView) Bearish bias with 155.30 as key short-term pivotal resistance for the USD/JPY. A break below 154.75 may expose near-term weakness towards the next intermediate supports at 154.20 and 153.65 (also the 20-day moving average) (see Fig. 2).Key elements The minor uptrend phase of USD/JPY from its 29 October 2025 low of 151.89 to Tuesday, 18 November 2025, intraday high of 155.38 may have reached a terminal exhaustion point, as price action has hit the upper boundary of the bearish “Ascending Wedge” configuration.In conjunction, the hourly RSI momentum indicator has traced out a bearish divergence before exiting its overbought region on Tuesday, 18 November 2025, during the Asia session.These observations suggest that short-term upside momentum has started to wane, which increases the odds of a minor bearish reversal on the USD/JPY.Alternative trend bias (1 to 3 days) However, a clearance above 155.30 key resistance invalidates the bearish reversal scenario for a further squeeze up towards the next intermediate resistances at 155.80/155.95 and 156.50/156.70. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Most Read: Gold (XAU/USD): 9% dead cat bounce rally at risk of reversal, watch US$4,036 downside triggerThe chip giant, NVIDIA (NVDA), will report its third-quarter earnings on November 19th after the market closes. This report is viewed as a crucial test for the entire AI market, since NVIDIA is seen as a key leader in the industry.Expectations for the company are extremely high leaving very little room for error; NVIDIA must deliver strong results, particularly in its future sales forecast and provide assurance that companies will continue to spend heavily on AI. Due to these high stakes, the stock market is preparing for significant volatility, with predictions that the stock price could swing by 6% to 8% immediately after the results are announced.What to Expect? NVIDIA’s Q3 financial expectations face a unique challenge: the consensus estimates already sit above the company's own official guidance. zoom_out_map Source: LSEG, Created by Zain Vawda The consensus estimate for Q3 revenue ($54.8 billion) implies that the market has fundamentally discounted NVIDIA’s guided midpoint ($54.0 billion). For the stock to react favorably, analysts generally require revenue to hit at least $55 billion, with targets closer to $56 billion preferred to validate the ongoing momentum. Failure to surpass the consensus estimate, even if company guidance is met, would be interpreted as slowing growth and likely trigger a pullback.Key Focus Areas Blackwell Execution and Margin IntegrityNVIDIA’s growth is almost entirely dependent on its Data Center division and the successful, timely rollout of its new Blackwell (B200) chip. Investors must see the company flawlessly execute this production and deliver the expected $8 billion jump in Data Center revenue, while also maintaining a very high profit margin (near 74%) to justify its premium pricing.Q4 Guidance and Demand DurabilityThe forward guidance for Q4 FY2026 will be the largest determinant of the stock's immediate reaction. Wall Street is currently anticipating Q4 revenue guidance in the range of $61.29 billion to $61.57 billion. Any guidance falling below $60 billion would be considered severely disappointing and likely lead to a sharp correctionThe necessity for a strong Q4 guide stems from persistent market skepticism concerning the longevity of the AI capital expenditure (capex) boom. Investors worry about "circular AI spending" and the risk of temporary inventory overbuilding by hyperscalers. Management must use the earnings call to provide qualitative reassurance regarding the long-term commitment of cloud providers, offering clear commentary on order visibility into 2026 and robust forward capacity planning. Evidence of diversified demand, particularly from early Sovereign AI deals and enterprise inference adoption, is crucial to counter the narrative of overreliance on core hyperscaler contracts. This qualitative clarity on the future demand curve is arguably more important than the Q3 numbers themselves, given the stock’s stretched valuationGeopolitical Risk and CompetitionGeopolitical headwinds have intensified, imposing a permanent structural limit on NVIDIA's market access. Q3 guidance already explicitly excluded Chinese H20 chip shipments due to U.S. export restrictions. Further compounding this issue, new guidance from the Chinese government in November 2025 now mandates that state-funded data center projects use only domestically made AI chips.This converts a temporary disruption into a structural market exclusion in a major government sector. Investors require concrete evidence that global diversification is accelerating fast enough to permanently offset the lost revenue from this structural decoupling.Competitive risks are also materializing. While AMD’s Instinct line presents a direct challenge in computational horsepower, the most significant long-term risk to NVDA’s pricing power stems from hyperscalers designing and deploying their own custom accelerators (ASICs) to reduce the "Nvidia tax".Potential Implications for NVIDIA Share Price For NVIDIA's stock rally to continue and reach the highest price targets, the company must achieve a decisive "beat and raise": it needs Q3 revenue above $55 billion and the future sales forecast (Q4 guidance) must be significantly above the $62 billion expected by analysts.This success must be backed up by clear comments that ease market worries about how long the AI spending boom will last, confirming that the new Blackwell chip is being produced perfectly and that the company has strong sales orders lined up through 2026.If NVIDIA only meets the Q3 target but gives a cautious Q4 forecast (below $61.5 billion), the stock will likely fall sharply, because its current high valuation assumes the best possible outcome.NVIDIA (NVDA) Daily Chart, November 17, 2025 zoom_out_map Source: TradingView Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

The week has started with wiggly trading, leaving traders firmly on the fence when it comes to risk-sentiment. Despite the broader market indecision, a few specific names are holding the major indices together, notably Alphabet (Google), which trades higher by 4% after Berkshire Hathaway disclosed a $4.3 billion stake in the company. Names like Tesla and the semiconductor giant Micron (MU) are also providing support. However, most stocks are trading close to unchanged or slightly in the red at the open. zoom_out_map US Equity Heatmap (11:20 A.M.) – November 17, 2025 – Source: TradingView Investors remain anxious over the path of AI investment. The massive capital expenditure required for large AI projects was initially easier to fund when the market was pricing in lower rates. However, recent hawkishness from Fed officials signaling that they are unlikely to cut rates again this year has cast a shadow over the sector. This has intensified scrutiny over already stretched tech valuations.Markets are expected to get at least some clarity soon, with public US data expected to resume promptly. Crucially, the BLS has announced they will publish the September NFP report on Thursday, November 20th. While the chance of a rate cut remains uncertain (currently around 40%), a clear signal of a more restricted labor market could be the key decision-maker for the Fed. Everything will now depend on the incoming data.In any case, traders can rejoice of such volatility which provides opportunity on both the buy and sell side – Take a look at the VIX where spikes have become more frequent and has actually formed some upward sloping trends. zoom_out_map VIX (Volatility Index) and its rise – November 17, 2025. Source: TradingView Let's dive right into the intraday outlook for all three US Major indices: Dow Jones, Nasdaq, and S&P 500. Discover: Unclear BLS post-shutdown schedule – Markets Weekly OutlookGold (XAU/USD): 9% dead cat bounce rally at risk of reversal, watch US$4,036 downside triggerRecovery in US equity futures, the gold 'dead cat bounce' and the week aheadA global Outlook on US Indices zoom_out_map US Main Indices Daily Outlook – Volatile swings. November 17, 2025 – Source: TradingView Dow Jones 4H Chart and levels zoom_out_map Dow Jones (CFD) 4H Chart, November 17, 2025 – Source: TradingView Even after a rough weekly open, the Dow is resilient around the 47,000 level, key for upcoming momentum.With many up and down dojis between the mini support (46,800 to 47,000) and resistance (47,200) zones since Friday, price action is consolidating sharply.Essential to continue heading higher after overbought levels, bulls can rejoice that the pullback hasn't extended (yet), which would yield a more bearish short-term outlook.Watch for breakouts and session closes above/below the consolidation which should surely see continuation.Dow Jones technical levels of interest:Resistance LevelsCurrent All-time high 48,459Resistance zone 47,500 - 47,650 and 4H MA 50mini-resistance 47,200Psychological resistance at 48,000Support LevelsHigher timeframe pivot 47,000 to 47,200 (immediate test)mini-support 46,800 to 46,90046,380 trendline and MA 20045,000 psychological level44,400 to 44,500Nasdaq 4H Chart and technical levels zoom_out_map Nasdaq (CFD) 4H Chart, November 17, 2025 – Source: TradingView Nasdaq led to the downside in the past few weeks, now trading below its key intraday moving averages and still within its corrective channel. However, one interesting technical development has formed a pattern that should help to guide traders looking forward.A double bottom was reached on Friday at the 24,500 support. But as anything in trading, its effect will be contingent on continuation.After such a formation, bulls will want to see strong upward candles to retake the hand.Failing to make progress higher could mean that buyers are getting exhausted and could prompt further rangebound action.A break below the Friday lows (24,551) would on the other hand imply further downside.Nasdaq technical levels of interest:Resistance LevelsCurrent ATH 26,283 (CFD)All-time high resistance zone 26,100 to 26,300Intermediate resistance and 4H MA 50 25,700 to 25,850Mini-resistance at 25,500 GapCurrent Pivot 25,050 to 25,200 (immediate resistance and Moving Averages)Support Levels24,879 session lows24,500 Main support October lows 23,997Early 2025 ATH at 22,000 to 22,229 SupportS&P 500 4H Chart and technical levels zoom_out_map S&P 500 (CFD) 4H Chart, November 17, 2025 – Source: TradingView The S&P 500 is holding similar conditions as the Nasdaq, but as typical, with less volatility/ more rangebound characteristics.Holding below the Pivot Zone and Key MAs, bulls still have to do more work if they want to reach new records.Also showing a double bottom, expectations for continuation will be high after the Friday bounce. Failing to continue higher may trigger continued profit-taking – Keep an eye on the 6,750 level for session closes.S&P 500 technical levels of interest:Resistance Levels6,930 (current All Time-Highs)ATH Resistance 6,900 to 6,9306,800 Psychological resistanceMid-term resistance 6,860 to 6,880Pivot and MA 200 6,720 to 6,750 (testing immediate)Support Levels6,647 session lows6,680 to 6,700 support recent bounce6,570 to 6,600 Key support6,490 to 6,512 Previous ATH now Support (4H MA 200 Confluence)Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Market Insights Podcast (17/11/2025): In today’s episode, OANDA Senior Market Analyst Kelvin Wong and podcast host Jonny Hart discuss the recovery in US equity futures across the Asian session, recent gold price action, and look ahead to this week's trading, including FOMC minutes. Join OANDA Senior Market Analyst Kelvin Wong and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Log in to today's North American session Market wrap for November 14A bloody overnight and early morning session quickly got met with a V-shape reversal in US indices today.This sharp volatility saw Gold and other metals suffer large outflows, with gold declining sharply and experiencing significant selling pressure.Today's and this week's all-market action strongly resembled a global portfolio rewiring, similar to what often happens at the beginning of new quarters (even though Q4 is still far from finished).The Nasdaq led the decline overnight, with futures trading seeing sharp drops, before dip-buyers corrected the entire move.This rapid V-shape recovery wasn't fueled by many catalysts, but the same could be said about the selloff.The Dow, which had performed very well earlier this week, did not get as much traction in the subsequent tech-led recovery. However, this tech comeback wasn't global, with Cryptos again seeing bloodshed as participants engaged in broad risk-deleveraging.The lack of data clarity from the BLS is still creating palpable anxiety in markets, which should persist until more information gets released.The cloud should begin to dissipate throughout the coming days and weeks.Actually the BLS just announced that the September NFP report (normally published in early October) will be reported on Thursday, November 20. Read More:Unclear BLS post-shutdown schedule – Markets Weekly OutlookBitcoin Drops Below $95,000 – Market Under Pressure as Investor Confidence WanesGold (XAU/USD) Price Forecast: Triangle Formation Shows Trader Indecision – Will $4,000 Hold?Cross-Assets Daily Performance zoom_out_map Cross-Asset Daily Performance, November 14, 2025 – Source: TradingView Another bad day for Cryptocurrencies – It seems that this theme is turning into quite a trend since October's sudden peaks.It is normal for Cryptos to see early outflows and up/down overperformance due to their volatile nature and illiquidity, but nonetheless, expect some pain if these moves keep increasing in size, particularly with BTC below $100,000.The most impressive on the session has been the renewed shift in Oil, but this has been seen again and again this year. Except for a change in fundamentals, expect seesawing action in Energy Commodities.And for the rest, Stocks really have shown their resilience today (look at the moves on the Red-Nasdaq line). The rest will be to see if this holds next week with the ongoing volatility.A picture of today's performance for major currencies zoom_out_map Currency Performance, November 14 – Source: OANDA Labs FX movement has been very contained and rangebound throughout this week – Data releases haven't been the norm with the BLS drought, but there was still an impressive lack of volatility today.Some outflows from traditional G7 currencies towards other fiats such as the Chinese Yuan, Hong Kong dollar (HKD) and many others.A look at Economic data releasing throughout the weekend and Monday's sessions zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. The weekend calendar is relatively light, with attention ongoing G20 meetings.Sunday brings New Zealand’s Business NZ PSI, which remains in contraction territory, and a full set of Japanese preliminary GDP figures.Monday however should be busier, as per usual, with European Commission Growth Forecasts at 6:00 A.M. to start the week, and continued with Canadian CPI data later at 9:30 A.M.There will be quite a few speakers from the ECB and even more from the Fed.US central bank speakers have gathered quite some attention with the December meeting being gradually more uncertain as time goes – It is only priced at 50% for now.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Week in review – Markets remain very anxious This week finally saw the US government reopen after the longest ever government shutdown, which lasted 43 days.News of the deal initially brought a much-needed rally in stocks on Monday, but throughout the week, markets have been plagued by sudden selloffs without much explanation.NOTE: The Bureau of Labor Statistics will publish the Septemnber NFP (normally published in early October) on Thursday, November 20.As explained in our last weekly outlook, participants remain anxious on themes of high valuations, particularly as key participants like Nvidia CEO Jensen Huang issued warnings on US policies and regulations that he believes will restrain progress in AI.Huang stated that China is only "nanoseconds behind America in AI".Many doubts remain after some warnings from private data releases, like the new weekly ADP series, which indicated an average drop of 11K jobs in the private sector in the past four weeks. This has fueled even more anxiety about how the 1.5-month "data dark age" will ultimately look.Adding to the confusion, White House Press Secretary Karoline Leavitt announced that due to the lack of collection during the shutdown, the October jobs (NFP) and inflation (CPI) data may never be released.Leavitt claimed the data was "permanently impaired," leaving policymakers "flying blind at a critical period".There has been a decent move higher in equities to finish the week after an even more scary open, but participants are all looking at each other to see who moves first. Most Read:The Stock Market is bleeding – What is going on? Expect to receive more news from the BLS as they resume their operations again.From what it seems, they will be prioritizing November releases.However, the September NFP is expected to be released quickly, as early as next week, as its data was collected prior to the shutdown taking effect.Weekly Performance across Asset Classes zoom_out_map Weekly Asset Performance, November 14, 2025 – Source: TradingView Cryptocurrencies see the most outflows once again in the ongoing risk-deleveraging happening throughout Markets.For the rest, despite enormous volatility, most assets have mean-reverted throughout the week, leading to low weekly changes.But for those who have been actively trading and/or watching the action unfold, everybody can confirm that the week has been far from calm. zoom_out_map Crypto Total Market Cap down another 10% this week – Source: TradingView Read More:Gold (XAU/USD) Price Forecast: Triangle Formation Shows Trader Indecision – Will $4,000 Hold?Bitcoin Drops Below $95,000 – Market Under Pressure as Investor Confidence WanesDXY outlook: The dollar drops after the US Government reopensThe Week Ahead – US September NFP and many Inflation releasesAsia Pacific Markets – A focus on Japan and New Zealand combined with PBoC Rate Decision The upcoming week for APAC markets is dominated by high-impact inflation updates, now focusing mostly on Japan and New Zealand data.AUD traders will still have to log in. Monday starts with the release of the RBA Meeting Minutes, offering a detailed look at the Board's recent interest rate discussions and after another week of positive economic surprise (large beats in Employment, delaying cuts further).The primary domestic indicator will be the Wage Price Index (WPI), due on Tuesday evening (20:30 ET), which is the most critical measure of underlying domestic inflation pressure.For those following China, the PBoC Interest Rate Decision on Wednesday evening (21:15 ET) will attract quite some attention.While no change is expected, communication regarding growth and concerns will be closely watched by all participants; China released some pretty bad data the past week, particularly regarding international trade.Japanese data sets the stage early and provides the week's biggest inflation event. Sunday night brings the preliminary Q3 GDP figures to check the economy's pulse.However , the key macro event for JPY traders is Thursday evening's (19:30 ET) National CPI release, but this one is not as closely compared to the Tokyo CPI (releasing next week).NZD traders will also be quite busy, with the New Zealand Producer Price Index (Q3) releasing Tuesday evening, and followed by their Trade Balance data on Thursday.US, Europe and UK Markets – US September NFP Inflation in Canada, Europe and UK + Some PMI spice The upcoming week for traders is highly polarized, focusing on inflation in Europe, the UK and Canada – The picture is still unclear for US data except for a November 20 Sep NFP release!Starting Monday, CAD traders will welcome the Consumer Price Index (CPI) at 9:30 A.M. ET.Major data continues in Europe on Wednesday (6:00 A.M. ET) with the release of the Eurozone Core HICP (CPI).The EU will also publish crucial forward-looking sentiment figures on Friday with the HCOB PMIs (4:15 - 5:00 A.M. ET), giving a fresh look at economic activity.As for the US, the week is a waiting game of surprises, particularly with the BLS uncertainty.Traders will look at the interest-rate-sensitive Housing Starts and Permits on Wednesday (8:30 A.M. ET).The market’s real focus will be on potential past releases throughout next week, the New weekly ADP series on Tuesday, and Friday's Michigan Sentiment Survey (11:00 A.M. ET), which offers direct insight into consumer confidence and, more importantly, long-term Inflation Expectations.Of course, the Swiss Franc is on watch as well, with SNB Chair Thomas Jordan speaking on Friday, and any policy hint will move the safe-haven currency that has seen quite some inflows again this week. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (High-tier data only) Not on the picture, but keep an eye on the flurry of Central Bank speeches throughout the week as the final quarter rate decisions approach.Safe Trades and enjoy your weekend!Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Bitcoin plunges below $95,000, erasing nearly all 2025 gains amid rising market uncertainty and fading hopes for a Fed rate cutMassive outflows from Bitcoin ETFs and $1.3 billion in liquidated leveraged positions deepen the sell-off, highlighting weak market liquidity and investor anxietyStrategy Inc. under pressure, as its market value nears the worth of its BTC holdings; Michael Saylor announces new Bitcoin purchases and urges investors to “HODL." On Friday, Bitcoin fell below the $95,000 mark, reaching $94,508 – its lowest level in about six months. Since hitting a record high of $126,251 in early October, the cryptocurrency has lost nearly 25% of its value. It is now dangerously close to erasing all gains made in 2025, with the year-end price of 2024 standing at $93,714. zoom_out_map Bitcoin, daily timeframe, source:TradingView Massive ETF Outflows and Leveraged LiquidationsOne of the key drivers of the decline is the significant capital outflow from Bitcoin-based ETFs. On Thursday alone, approximately $870 million was withdrawn – the second-largest daily outflow since these instruments were launched. The market is still reeling from the mass liquidation on October 10, when around $19 billion in leveraged positions and over $1 trillion in total crypto market capitalization were wiped out. In the last 24 hours, another $1.3 billion in leveraged positions was liquidated, further intensifying selling pressure.Macro Pressure and Weak Liquidity Worsen the OutlookBitcoin’s correction is closely linked to the broader sell-off in risk assets, particularly U.S. tech stocks. Investors are increasingly revising their expectations for the Federal Reserve’s monetary policy. Following recent hawkish remarks from Fed officials, hopes for a rate cut in December have significantly diminished.Adding to the concern is the declining liquidity in the crypto market. Market depth – the ability of the market to absorb large orders without significant price movements – has dropped by around 30% compared to peak levels earlier this year. As a result, even moderate trade volumes can now lead to sharp price swings.Strategy Inc. in Focus as Michael Saylor Steps InStrategy Inc., one of the largest corporate holders of Bitcoin, has also come under pressure. Its stock around 2%, raising concerns that its market value could dip below the value of its BTC holdings (approximately $61 billion). The company’s total enterprise value, including debt and preferred equity, currently stands at $74.8 billion. zoom_out_map Strategy Inc. , daily timeframe, source: TradingView Michael Saylor, Strategy’s co-founder, announced that the firm is “buying a lot” of Bitcoin and promised to reveal more details on Monday. He also urged investors to “HODL” – a call to hold on to their Bitcoin despite the ongoing downturn. The current environment for Bitcoin remains highly volatile and uncertain. The next few trading sessions could be critical in determining whether this is merely a short-term correction or the beginning of a deeper bearish trend. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Precious metals haven’t dodged the volatility bullet hitting markets throughout the morning session. zoom_out_map Metals performance since beginning October. November 14, 2025 – Source: TradingView Bleak and brutal overnight trading has failed to attract flows into normally in-demand gold, even as risk sentiment deteriorates sharply.An unusual positive correlation between the yellow metal and equities is adding confusion about where capital rotates when these outflows occur.After dropping $150 at its morning lows, mean-reverting buyers dragged Gold prices back toward the $4,100 area, and are attempting to break through the psychological level.With fresh volatility, lower highs are forming and the outlook is turning increasingly opaque.So let’s dive into a multi-timeframe Gold analysis to see whether technical signals can help us determine where metal prices may be headed next. Read More:The Stock Market is bleeding – What is going on?Markets Today: China Industrial Output Hits 14-Month Lows as Wall Street Losses Spill Over into Asia, EuropeEUR/USD jumps from the recent dollar weakness and ECB President talksGold (XAU/USD) multi-timeframe technical analysisDaily Chart zoom_out_map Gold (XAU/USD) Daily Chart. November 14, 2025 – Source: TradingView After forming a gigantic bearish divergence at the end of last month, brutal outflows brought Gold well below the $4,000 mark.Still, some strong dip-buying pushed the metal back higher as late-trend followers rushed for the "discounted prices".But discounts can be traps in markets.Sole performer during yesterday's bloody session, Gold found a top in a flash sale this morning, all the way to $4,030.Now back above $4,100, the price action just looks more confusing on the Daily chart.Long-wicked dojis like the one from today's action can put out trade setups:Look at what happens if bulls manage to retake the daily highs at $4,211 (trend continuation)Vice versa if bears bring the pair to new lows (especially below $4,000)4H Chart and technical levels zoom_out_map Gold (XAU/USD) 4H Chart. November 14, 2025 – Source: TradingView Gold technical levels of interest:Resistance LevelsCurrent All-time High resistance $4,250 to $4,400 (ATH $4,380)Low of Resistance zone $4,250 and Triangle formation topSession highs $4,211Support Levels4H MA 200, Session and triangle formation lows: $4,030 to $4,050)Major Pivot $3,950 to $4,000$3,700 consolidation Support$3,500 Major Support1H Chart zoom_out_map Gold (XAU/USD) 1H Chart. November 14, 2025 – Source: TradingView It's a bull and bear battle in today's action, as expressed in the consolidation patterns seen through higher timeframes.Buyers have broken the $4,100 but the momentum pivot stays around $4,110.Closing above this level gives more odds for bull continuation towards the weekly close, while closing below the pivot gives back the hand to sellers.Keep an eye on the triangle formation and watch the afternoon session closely to see if indecision follows or a side takes the wheel.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Market Insights Podcast (14/11/2025): In today’s episode, we discuss the changing narrative surrounding a Fed rate cut in December, and the associated sell-offs in US equity, precious metals, and crypto markets. Otherwise, we discuss the potential for a major equity correction and the recent upside offered by AI. Join Nick Syiek (TraderNick) and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

It seemed like nothing could stop stocks in their flawless rally since the April sprint.Wars, tariffs, a deteriorating labour backdrop, geopolitics — all of it somehow kept resolving into more upside, thanks to peace talks, trade deals, and dovish support from the Federal Reserve.But sometimes, the market’s worst enemy is the market itself. zoom_out_map US Main Indices Daily Outlook, November 14, 2025 – Source: TradingView Stretched valuations, overbought technicals, insider profit-taking, and growing hesitation among highly leveraged participants have produced a lethal combination of sharp selloffs.Volatility has been the norm in 2025 — the real concern now is whether these pullbacks from recent all-time highs turn into something deeper.The picture is red throughout all sectors but tech is starting to lead a pullback that will act as a key element to look at for the rest of the session. zoom_out_map US Equity Heatmap (10:28 A.M.) – November 14, 2025 – Source: TradingView Opportunity or reason to panic? That question always resurfaces in moments like this. The best approach is to stay disciplined: prepare your game plan, manage risk, and take notes.Keep a close eye on afternoon trading as it will dictate sentiment towards the week-end and has a high chance of spreading to next week.Let’s dive into the intraday charts and key levels for the Dow Jones, Nasdaq, and S&P 500. Read More:Ethereum drops another 3% below $3,500 – Time for panic or opportunity?Markets Today: China Industrial Output Hits 14-Month Lows as Wall Street Losses Spill Over into Asia, EuropeEUR/USD jumps from the recent dollar weakness and ECB President talksDow Jones 8H Chart and technical levels zoom_out_map Dow Jones (CFD) 8H Chart, November 14, 2025 – Source: TradingView This week posted a major bull-trap in the DJIA.A break of a previous downward topline got met with a sharp rally to new all-time highs (48,459), but the selloff that came right after is not the sign bulls want to see to buy again.Sellers are pushing below the 47,000 level, key for Momentum.A final support comes in at the uptrend lows combined with the 8H MA 200 (around 46,300). Rejecting to the upside would be sign of a healthy retracement.However, breaking this would form a not-good-looking price action for investors. Keep an eye on daily charts and session closes.Dow Jones technical levels of interest:Resistance LevelsCurrent All-time high 48,459Resistance zone 47,500 - 47,6508H 50-period MA 47,400 (mini-resistance)Psychological resistance at 48,000Support LevelsHigher timeframe pivot 47,000 to 47,200 (immediate test, breaking)46,300 trendline and MA 20045,000 psychological level44,400 to 44,500Nasdaq 8H Chart and technical levels zoom_out_map Nasdaq (CFD) 8H Chart, November 14, 2025 – Source: TradingView The Nasdaq led to the downside but is also posting quite a rebound just below previous lows as the prices reached the MA 200 (24,574) and RSI touched the oversold level.This marks an interesting technical development as a fakeout to the downside could always be a possibility.Nevertheless, bulls will have to break back above 25,000 and form a candle close to avoid it just being a pullbackNasdaq technical levels of interest:Resistance LevelsCurrent ATH 26,283 (CFD)All-time high resistance zone 26,100 to 26,300Intermediate resistance and 4H MA 50 25,700 to 25,850Mini-resistance at 25,500 Gap (immediate resistance)Current Pivot 25,050 to 25,200Support Levels24,500 intermediate support (25,574 Daily lows and MA 200)October lows 23,997Early 2025 ATH at 22,000 to 22,229 SupportSession Lows 25,450S&P 500 8H Chart and technical levels zoom_out_map S&P 500 (CFD) 8H Chart, November 14, 2025 – Source: TradingView The Spoose is rallying back above the 6,700 level but the current candle is looking quite indecisive.Still, an intermediate low has been found at the 200-period MA (6,647) and poses a base for upcoming action.A mid-session close above 6,700 creates higher probabilities of a return within the broken May Channel.A close below however may hint at new lows towards the weekly close.S&P 500 technical levels of interest:Resistance Levels6,930 (current All Time-Highs)ATH Resistance 6,900 to 6,930Intermediate resistance 6,830 to 6,855Pivot and MA 200 6,720 to 6,750 (testing)Support Levels6,647 session lows6,680 to 6,700 support6,570 to 6,600 Key support6,490 to 6,512 Previous ATH now Support (4H MA 200 Confluence)Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Asia Market Wrap - Asian Stocks Follow Wall Streets Lead Most Read: Dow Jones & S&P 500 Slip More Than 1%, Focus on US Data Releases as Rate Cut Bets TumbleAsian stock markets tumbled on Friday, joining a worldwide selloff after hawkish comments from Federal Reserve officials dampened hopes for a US interest rate cut next month.This fear, combined with a messy schedule of economic data, caused Wall Street to snap its four-day winning streak with its biggest one-day fall since April, which then spread to Asia.Key regional markets saw steep declines: Japan's Nikkei fell 2%, Australia's resource shares slid 1.4%, and South Korea tumbled by as much as 3.6%. Separately, Chinese stocks also eased 0.9% after new monthly data confirmed that both factory production and retail sales slowed down in October, missing analyst expectations.Take a look at how US markets ended yesterday, sentiment which has spilled over into Asian trade. zoom_out_map Source: LSEG China Industrial Output Hits 14-Month Low China’s industrial production grew by 4.9% in October, which was a significant slowdown from the 6.5% growth in September and missed the expected growth of 5.5%. This was the weakest increase seen since August 2024, mainly because activity slowed down in manufacturing and mining, partly due to the Golden Week national holiday.However, the production of electricity, heat, gas, and water actually accelerated. Despite the overall slowdown, growth was still seen in 29 out of 41 major industries, including very strong performances in the automotive, computer/communications, and shipbuilding sectors. For the first ten months of the year, industrial production has risen by 6.1%.European Session - Cautious Open Expected Early European stock futures showed a mixed start, but the past 24 hours have been difficult for global markets as traders suddenly lost confidence that the US Federal Reserve will cut interest rates in December, now seeing the chance as 50/50. This uncertainty caused global stocks, Treasury bonds, and the US dollar all to fall.Adding to the bad mood, new data confirmed that China's factory production and retail sales grew at their slowest pace in over a year during October. Compounding the issue, Federal Reserve official Neel Kashkari further reduced optimism by stating he opposed the rate cut last month and is still unsure about supporting a cut in December.In early European trading, Euro Stoxx 50 futures were down 0.4%, German DAX futures rose 0.1% and FTSE futures slid 0.5%.On the FX front, the US Dollar (USD) is set to end the week lower, with its overall strength remaining near a two-week low and on track for a 0.4% weekly fall.The Swiss Franc similarly held near its strongest level in over three weeks against the Dollar.Meanwhile, the British Pound fell 0.3%, unable to keep the gains it made overnight against the weaker Dollar.In China, the Yuan hit a one-year high against the Dollar, as local exporters reportedly sold off their dollars after the exchange rate crossed a key level.Currency Power Balance zoom_out_map Source: OANDA Labs Oil prices surged by about 2% on Friday because of renewed worries over global supply after a Ukrainian drone attacked a major oil export hub in Russia, the Black Sea port of Novorossiysk. Russian officials confirmed that the attack early on Friday damaged the oil depot, apartment buildings, and a ship in the port, injuring three crew members.Following this news, both major benchmarks saw significant jumps, with Brent crude futures rising to $64.25 a barrel and US West Texas Intermediate crude climbing to $59.94 a barrel.Gold prices rose on Friday and are set for a weekly gain, primarily supported by a weaker US Dollar. The market is currently waiting for the release of more US economic data to get a better sense of whether the Federal Reserve will still cut interest rates in December, especially following recent comments from Fed officials that sounded against a rate cut.Spot gold was up 0.7% at 4,201.70/oz and has posted a strong overall gain of 5% so far this week.Read More:WTI Oil Up 1.7% as Markets Grapple with Geopolitical Shocks and Structural Supply GlutGold (XAU/USD) Price Forecast: Bullish Breakout Gathers Pace as Fed Pivot Expectations Firm, $4250/oz Incoming?Economic Calendar and Final Thoughts On Friday, markets will be influenced by several major announcements.In terms of company earnings, three large firms are reporting: the German insurer Allianz, the Swiss reinsurance giant Swiss Re, and the British aerospace and defense company Rolls-Royce Holdings.Regarding economic data, attention will be on Europe:France will release its final inflation rate (CPI) for October.The Eurozone will release several important figures, including the first official estimate for economic growth (GDP) in the third quarter, flash data on job changes (Employment flash) for the third quarter, and trade figures (trade balance) for September.Moving to the US and markets will be hoping for more clarity regarding October data and whether or not it will be released. If it is confirmed that the jobs data and CPI data for October is not going to be released, this could add to market uncertainty and leave sentiment fearful heading into the weekend. zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - FTSE 100 Index From a technical standpoint, the FTSE 100 has pulled back significantly over the last two days.The index has declined around 200 points as it has followed on from the dent to sentiment which has dragged down US stocks as well.On the four-hour chart below, the overall structure remains bullish until we get a four-hour candle close below the swing low at 9661.If price fails to breach the previous swing low, a bounce and recovery remains on the cards. This will however depend on the overall market sentiment improving.FTSE 100 Index Daily Chart, November 14, 2025 zoom_out_map Source: TradingView.com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Log in to today's North American session Market wrap for November 13The news of the US government reopening yesterday evening did little to stop the bleeding in markets today.Despite the absence of major negative headlines, global markets were hit by a broad and significant correction, spanning both equities and cryptocurrencies.With no clear catalyst to blame, investors seem to be revisiting the tech overvaluation fears that triggered similar selloffs last week. zoom_out_map Bitcoin, Nasdaq and Dow Jones Daily outlook – November 13, 2025. Source: TradingView After an exceptional multi-month rally, sentiment increasingly feels like a market top, and high leverage across assets is amplifying every move. Bitcoin has now slipped back below $100,000, ending a brief period of consolidation above that key psychological level.Gold remains near its highs but is down slightly on the day, and US Treasuries also saw a pullback — leaving one big question: where did the money go?Possibly into hedges: Put options demand appears to be rising sharply, with the VIX surging 15% and breaking above 20, signaling a rapid pickup in fear and protection buying. Read More:Ethereum drops another 3% below $3,500 – Time for panic or opportunity?Dow Jones & S&P 500 Slip More Than 1%, Focus on US Data Releases as Rate Cut Bets TumbleDXY outlook: The dollar drops after the US Government reopensCross-Assets Daily Performance zoom_out_map Cross-Asset Daily Performance, November 13, 2025 – Source: TradingView You can observe how bloody the picture was in global markets today.Only oil survived, but for short memories, the energy commodity fell 4% just yesterday.A picture of today's performance for major currencies zoom_out_map Currency Performance, November 13 – Source: OANDA Labs With the yen struggling to find a ground, investors rushed into the Swiss Franc (CHF) and stands on top of the preferred risk-off currency this year.These outflows in North America seems to have overall brought more demand in European currency, where (relative) political stability creates attraction.A look at Economic data releasing throughout tonight and tomorrow's sessions zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Markets head into a busy Friday with Eurozone data in focus and high volatility expectations after today. Eurozone economic highlights are the Eurozone GDP, with growth expected at 0.2% QoQ and 1.3% YoY, alongside employment change and the European Commission’s Economic Growth Forecasts, all of which will help shape expectations for the ECB’s 2026 policy path.Add to the data a cluster of ECB speeches (Escrivá, Elderson twice, and Lane) this makes the morning session particularly dense for EUR traders.The U.S. calendar remains speech-only, with appearances from Schmid, Logan, and Bostic — still no hard data due to the ongoing BLS release delays following the shutdown.Expect some communication from the Bureau in upcoming days to detail when (and if) past releases will get published.Markets are still missing two NFP releases, one CPI and some seven Jobless Claims (without mentioning Retail Sales which was expected tomorrow). Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

The EUR/USD has gained 1.5% since its November 4th bottom, a move that coincided with dovish US private labor data from the Challenger report.With the U.S. government shutdown beginning to weigh on economic activity, attention has turned toward the Eurozone, which continues to send relatively solid signals: Inflation remains stable in key economies like Germany and France (see comments from Villeroy), while growth, though modest, remains decent with a 52.5 PMI last week and retail sales up 1% year-over-year.As confidence grows in the Eurozone’s more politically stable environment—with a few exceptions such as France—and fund managers continue diversifying away from the U.S. dollar, the euro has seen strong dip-buying flows.Meanwhile, discussions around President Lagarde’s potential successor have emerged, with Knot, Nagel, and De Cos reportedly among the frontrunners—three strong policy voices within the ECB.By the way, these three members tilt more on the hawkish/conservative side for the Euro, which plays a big role in demand for a currency. This conversation is one to track for the upcoming year, as Christine Lagarde's term finishes in 2027 (except for any early resignation on her part).Adding to the supportive tone, European Commission President Ursula von der Leyen announced stricter rules on low-cost Chinese imports, a move interpreted as a sign of European strength, as reflected in today’s market reaction (however, there has been some mean reversion since)Let’s now dive into the EUR/USD rally and spot the key technical levels for the most traded FX pair. Read More:DXY outlook: The dollar drops after the US Government reopensThe 1.3000 Line in the Sand: Will the GBP/USD Break Higher or Face a Year-End Correction?Ethereum drops another 3% below $3,500 – Time for panic or opportunity?EUR/USD Multi-timeframe technical analysisDaily Chart zoom_out_map EUR/USD Daily Chart, November 13, 2025 – Source: TradingView EUR/USD has been on a V-shape recovery since last week, allowing the pair to break above its daily descending channel.With the RSI turning positive and strong daily candles, the reversal looks decisive.However, bears may find comfort in the 50-Day Moving Average coming as immediate resistance at 1.16625, right at the 1.1650 to 1.17 Pivot Zone.Keep an eye on this zone which will serve as momentum guidance: breaking above points to a retest of the 1.18 bound, while rejecting it points to further descent (retest of the 1.15 handle).Overall, the Daily trend looks like one of rangebound action between just below 1.15 to 1.18 until proven the contrary.4H Chart and technical levels zoom_out_map EUR/USD 4H Chart, November 13, 2025 – Source: TradingView Levels to place on your EUR/USD charts:Resistance Levels1.1650 to 1.17 mid-range Pivot zone1.1750 mini-resistanceResistance Zone around 1.18 (+/- 150 pips)Sep 2021 Highs – Resistance 1.19 to 1.1950 ZoneDaily highs 1.1656Support Levels1.1550 to 1.16 range support4H MA 200 Mini-support 1.161901.1475 to 1.15 Support Zone1.1350 to 1.14 SupportWeekly lows 1.154601H Chart zoom_out_map EUR/USD 1H Chart, November 13, 2025 – Source: TradingView The price action has been evolving in a steep hourly upward channel.However, some sellers appeared right at the entrance of the Pivot zone mentioned in higher timeframes, with the daily highs stalling at 1.15562.Maintaining the rejection downward could point to a retest of the 1.16 handle which corroborates with the 50-H MA and the uptrend.However, breaking new highs now would infer bull-dominance in the pair – Closing around the highs (less than 100 pips) mean that they won't give up this ongoing move.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Most Read: The 1.3000 Line in the Sand: Will the GBP/USD Break Higher or Face a Year-End Correction?Wall Street struggled in early trade on Thursday, with the main indexes such as the S&P 500 and Down Jones both sliding more than 1%.This may be a surprise to many given the fact that US President Donald Trump signed a bill ending the longest US Government Shutdown ever. However, the White House comments hint at the possibility that some data gaps are to be permanent and that employment and Consumer Price Index reports for October might never be released.This has no doubt spooked markets with the probability for a December rate cut also dropping below the 50% mark as a result. A sign of the nervousness present in the market.and could be the reason sentiment has taken a bit of a hit. zoom_out_map Source: LSEG Technology and communication stocks were the main reason the market went down. Big companies like Nvidia and Alphabet (Google) saw their stock prices fall, and a popular tech fund called the Magnificent Seven ETF also dropped.However, it wasn't bad news for everyone; Cisco Systems' stock went up after the company announced it expects to make more money than planned this year.In general, investors have been selling expensive technology and AI stocks recently, and using that money to buy stocks in "safer" areas like healthcare. This trend has helped the Dow Jones index reach new record high prices.But, the Dow was also held back by Walt Disney, whose stock dropped sharply because it's signaling a long fight with YouTube TV over carrying its TV channelsS&P 500 Heatmap zoom_out_map Source: TradingView Looking Ahead Market participants will now wait for more information on when US data and what US data will be released. If the jobs data and CPI data for October is not released, this could add to market uncertainty and leave sentiment fearful.Markets have been watching ADP private payrolls data of late which showed that private employers shed over 11,000 jobs a week through late October and Indeed Hiring Lab showed a 16% drop in retail-related job postings in October from a year ago, pointing to continued weakness in the labor market.Despite this several Federal Reserve policymakers have expressed uncertainty about a December rate cut. Comments from policymakers will be eyed later in the day and weeks ahead for more clues.Technical Analysis - Dow Jones Index From a technical perspective, The Dow Jones Index four-hour chart and the price action remains bullish.The previous swing low rests at 47413 which rests just below a confluence area which hosts the 50 and 100-day MA around the 47500 handle.If we get a four-hour candle close below the 47413 handle that would be a change in structure and the probability of a deeper correction will grow.Dow Jones Daily Chart, November 13, 2025 zoom_out_map Source: TradingView (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Risk assets have been yo-yoing since mid-October, with fundamentals turning increasingly obscure amid the absence of US data, leaving investors hesitant to take on new risk.Cryptocurrencies have also been flashing mixed signals following the early-October rallies in Bitcoin, Solana, and Ethereum. Despite ongoing market cap outflows, the crypto space has made solid progress this year. zoom_out_map Crypto Total Market Cap Weekly Chart, November 13, 2025 – Source: TradingView Still, with prices now down roughly 32% from the $4,950 August peak, the hype in ETH has cooled substantially.Yet, it’s often when fewer people are watching that true opportunities emerge—though the question remains: is this a dip to buy or a reason to panic?Overstretched tech valuations continue to weigh on markets, as reflected in today's weakness across stock indices, and crypto is facing similar pressure.From an investment standpoint, the long term will reveal its truth—but for those without a crystal ball, a prudent approach is Dollar-Cost Averaging (DCA), which involves gradually building positions over time.For traders, the focus should stay on support and resistance levels—spotting trends between them and reacting when those levels break. Let’s now look these levels through a multi-timeframe Ethereum analysis. Read More:DXY outlook: The dollar drops after the US Government reopensNorth American mid-week Market update – Weaker numbers in the US & better ones in Canada zoom_out_map Daily overview of the Crypto Market, November 13, 2025 – Source: Finviz Ethereum (ETH) Multi-timeframe technical analysisDaily Chart zoom_out_map Ethereum (ETH) Daily Chart, November 13, 2025 – Source: TradingView Having broken its April 2025 explosive upward channel, the picture for ETH is tilting more bearish, as strong flows have brought the second-Crypto below its $3,500 momentum pivot.Multiple attempts to break resistances have been met with consequent selloffs, leading to the formation of lower-highs.A balancing rebound last Tuesday (Nov 4) marked a temporary bottom at $3,053 – the rest will be to see if the bottom holds in an eventual double bottom or if its breaks, but for now these prices are still 8% from here (But never underestimate Crypto volatility!).4H Chart and levels zoom_out_map Ethereum (ETH) 4H Chart, November 13, 2025 – Source: TradingView Levels of interest for ETH trading:Support Levels:$2,100 June War support$2,500 to 2,700 June ConsolidationRecent lows $3,053$3,500 (+/- $50) Main Current PivotResistance Levels:$3,500 (+/- $50) Main Current Pivot$3,650 Descending channel highs$3,800 September lows$4,000 to Dec 2024 top Higher timeframe pivot zone$4,950 Current new All-time highs1H Chart zoom_out_map Ethereum (ETH) 1H Chart, November 13, 2025 – Source: TradingView ETH is oscillating in a shorter timeframe descending channel which serves as immediate momentum indicator:Breaking below its support line ($3,300 to $3,330) points at more aggressive sellingBouncing at the lows of the channel points to a short-term revisit of the $3,500 Pivot Zone. Further upwards, a break above $3,700 (with preferably a session/weekly close), points to a more stable rebound that may serve for future rallies.Safe Trades!Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

The US dollar always moves in complex ways, influenced by a large multitude of factors.Some are straightforward, like a demand for the USD when the US economy performs better than its peers or when investors seek exposure to US assets and Stocks.Some dollar dynamics are more obscure, like the link between dollar strength and expected change in paths for the Fed (sometimes, even a rate cut can boost the dollar – assuming communication is not dovish) or the even more confusing banking demand for dollar funding (cross-currency basis swaps, repo dynamics, etc ...)All of this goes into fundamental analysis for the Greenback – but how weird was its rise in the middle of the longest ever US government shutdown (that just ended)?Some might say that the shutdown did not significantly influence markets – and they might be right.Odds for a December cut have been steadily decreasing since Powell's recent speech at the FOMC rate decision conference, from 98% priced in just a week before the event to the current 54%. zoom_out_map Pricing of the next Fed rate cut, November 13, 2025 – Source: CMEGroup This change of interest rate pricing could have been the reason behind the rise from 97.90 to a peak of 100.37 in the Dollar Index throughout the Government Shutdown period, but this still seems contradictory.In any case, for traders, pictures are worth a thousand words – Let's dive right into our multi-timeframe US Dollar Index (DXY) analysis. Read More:The 1.3000 Line in the Sand: Will the GBP/USD Break Higher or Face a Year-End Correction?North American mid-week Market update – Weaker numbers in the US & better ones in CanadaWTI Oil dives 4%: Black Gold freefalls after the OPEC report – OutlookDXY multi-timeframe analysisDXY Daily Chart zoom_out_map Dollar Index (DXY) Daily Chart, November 13, 2025 – Source: TradingView The past month's rise, forming an upward channel, was surprisingly tenace despite the fundamentals.But moving averages, especially Daily, can act as strong resistances – Look at how prices reacted to the 200-Day MA (currently at 100.125), which just caught up to this year's fall in the DXY.In yesterday's trading, a test of the lower bound of the upward channel failed, leading to this morning's break lower.As traders still await for public BLS data, momentum corrects back to neutral – Expect a lot of volatility as economic data makes a comeback.Its downward tilt hints at a more bearish/mean-reverting price action but a close below the channel would be required for confirmation.4H Chart and technical levels zoom_out_map Dollar Index (DXY) 4H Chart, November 13, 2025 – Source: TradingView Levels to place on your DXY charts:Resistance Levels99.60 to 99.80 mini-resistance100.00 to 100.50 Main resistance zone100.376 November highsTop of channel round 100.650Weekly highs & 4H 50-period MA 99.74Support LevelsHigher timeframe Pivot 98.80 to 99.00 (immediate test)Mini-support 98.50Main support 98.00Session lows 99.1521H Chart zoom_out_map Dollar Index (DXY) 1H Chart, November 13, 2025 – Source: TradingView Some small mean-reversion buying is taking place on the shorter timeframe, but below the steep trendline, bears are in control as prices trend in an hourly bear-channel.Two scenarios can unfold from here:A reversal from the channel lows breaks the trendline which hints at a pullback between 99.40 to 99.50 (retest of October channel bound)Sellers break the daily lows and test the 98.80 to 99.00 pivot zoneAs breakout scenarios don't seem to be materializing for now, the price action looks balanced, but still expect some volatility with this afternoon's Fed speeches: Musalem (2025 voter) and Hammack (2026 voter) go back to back at 13:15.Fed's Kashkari (2026 voter) will also appear in a few minutes.And don't forget the 30-year bond auction at 13:00 which can affect the USD and have been getting some traction as of late.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Log in to today's North American session Market wrap for November 12Traders came back from the November 11th Holiday and the Stock rotation came strong yet again.The Dow Jones pursued its strong rally higher, following European benchmarks, towards a new record close of 48,254 (+0.68%).Even on a lower scale than yesterday, tech stocks continued to see major outflows towards more traditional sectors such as Financials and healthcare – A new trend could be in its early beginnings.When looking at the renewed downmove in Cryptos, it really resembles like an aversion towards higher beta assets is at least forming.Metals however have shined bright in another remarkable session: Silver is up 4.30%, Platinum and Palladium above 2% and the same for Gold.The US House will pass a vote at 19:00 P.M. to finally reopen the US Government – This one should be successful when looking at the different concessions achieved throughout the past weekend. Read More:North American mid-week Market update – Weaker numbers in the US & better ones in CanadaUSD/JPY Outlook as it hits 155.00: PM Takaichi drives the pair to new cycle highsWTI Oil dives 4%: Black Gold freefalls after the OPEC report – OutlookCross-Assets Daily Performance zoom_out_map Cross-Asset Daily Performance, November 12, 2025 – Source: TradingView The large outperformers of today are the usual Gold and Stocks combo, but not at such an usual form:The Dow Jones has beaten its comrades to the top, while Cryptos and Nasdaq struggled.On the other side, US Oil has seen one of its craziest days in months' after this morning's OPEC report.Expect some wild days ahead!A picture of today's performance for major currencies zoom_out_map Currency Performance, November 12 – Source: OANDA Labs Yesterday's risk-on currency FX picture maintained today, and got magnified from the latest Takaichi comments (Japan's current PM).This by itself sent the Yen lower but as you may obnserve, some midday mean-reversion contained the extend of such moves.It seems like Forex participants are still awaiting for further US data to move their pieces further.A look at Economic data releasing throughout tonight and tomorrow's sessions zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Markets head into a loaded evening with several key data releases out of Australia, while traders await for the Shutdown vote to take place.The highlight will be Australia’s October labor report, with employment change expected at +20K and the jobless rate steady at 4.4%.Any downside surprise could strengthen the case for an RBA pivot in early 2026 after quite a tenace performance throughout 2025.Thursday shifts focus to UK GDP (Q3 preliminary) — expected to slow to 0.2% QoQ — alongside weak industrial and manufacturing figures, setting the tone for the pound.Europe follows with the ECB Economic Bulletin and additional policymaker speeches, while the U.S. calendar remains quiet due to the BLS data blackout, with no CPI or jobless claims.However, traders will stay alert for potential U.S. government reopening news at 19:00 ET, which could trigger late-session volatility.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

Log in to our mid-week North American Markets overview, where we examine the current themes in North America and provide an overview of indices and currency performances.The longest US government shutdown in history (43rd day) is still ongoing, but a resolution to finally end it appears imminent, with the House vote scheduled for tonight at 7 p.m.White House economic advisor Hassett also mentioned earlier this week that the shutdown will undoubtedly have a quantifiable negative impact on this quarter's GDP.This impact on the US economy may have just been felt through a round of worrying private data this past week.The Challenger Layoffs report indicated that the number of announced job cuts in October was the highest monthly total since October 2003. zoom_out_map October 2025 Announced Jobs Cuts – Source: Challenger Report –Published in November 2025 This was corroborated by yesterday's ADP weekly report (a new series) which showed an average drop of 11K jobs in the private sector over the past four weeks, contradicting their own positive monthly report released on November 5th.On the other hand, the northern neighbor, Canada, has been persistently surprising to the upside again. zoom_out_map Canadian Employment Change in the past 12 months – Source: Trading Economics This resilience is seen across the board: two consecutive months of surprise job gains (with October adding 67,000 jobs against an expected loss), continued consumer resilience in spending, and this morning's building permits beat of 4.5% versus a 1% expectation.The back-to-back strong labor reports have helped to strengthen the CAD, but still expect some caution at the December meeting where only 13% chance of a cut is priced.North America is facing some of the most complex and contradictory economic dynamics throughout 2025, and this complexity will only continue going forward, particularly with the White House saying that the Bureau of Labor Statistics (BLS) might not release the October numbers even after the government reopens.A bad development for the times to come – Let's see how this unfolds when the Government officially reopens.In any case, let's dive right into a few charts to get an overview on North American Markets, from US and Canadian equity Markets performance, USD and CAD performance to USD/CAD and DXY charts.North-American Indices Performance zoom_out_map North American Top Indices performance since last Monday – November 12, 2025 – Source: TradingView Stellar recovery from the Dow Jones and the TSX after the end of last week's sharp selloffs.The tech-heavy Nasdaq and S&P 500 have struggled in this ongoing rotation.Dollar Index 8H Chart zoom_out_map Dollar Index 8H Chart, November 12, 2025 – Source: TradingView Despite retracing 0.90% since last Wednesday, the Dollar Index is holding its upwards channel formed throughout October.The 8H MA 50 is acting as immediate support at the lower bound, hence reactions could be expected here.A break lower however may point at further rangebound action in the Greenback as the Market still awaits BLS data.Levels to place on your DXY charts:Resistance Levels99.60 to 99.80 mini-resistance100.00 to 100.50 Main resistance zone100.376 November highsTop of channel round 100.650Support Levels8H MA 50 acting as immediate support 99.420Higher timeframe Pivot 98.80 to 99.00Mini-support 98.50Main support 98.00US Dollar Mid-Week Performance vs Majors zoom_out_map USD vs other Majors since last Monday, November 12, 2025 - Source: TradingView Canadian Dollar Mid-Week Performance vs Majors zoom_out_map CAD vs other Majors, November 12, 2025 - Source: TradingView. Intraday Technical Levels for the USD/CAD zoom_out_map USD/CAD daily Chart, November 12, 2025 – Source: TradingView USD/CAD has started to post quite a reversal from its 1.4143 extremes attained last week.The bearish divergence with which it went down may confirm that the intermediate top might be one for the longer run, nonetheless bears will have to push the pair below 1.40 on a weekly close to confirm.RSI momentum is also starting to turn right below the neutral line.Levels to place on your USD/CAD charts:Resistance LevelsLiberation Day level around 1.4050Cycle highs 1.4143Current Resistance between 1.4120 to 1.4145Key resistance 1.4250Support Levels1.40 Major pivot (imminent support, testing)Major Daily Pivot 1.39 (+/- 200 pips)1.38 Major support +/- 150 pipsAugust range support 1.37501.3550 Main 2025 SupportUS and Canada Economic Calendar for the Rest of the Week zoom_out_map US and Canadian Data for the rest of the week, MarketPulse Economic Calendar Expect somewhat of a release drought towards the end of the week, but traders can still track what the FED has to say, particularly as the December cut appears more "live" when looking at the recent private data.What will be really interesting however will be to see how the BLS plans their releases as the Government reopens (hopefully) tonight.Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.

After yesterday’s 1.7% rally, many participants believed that the bottom was finally in for Oil—and for good reason. Exxon (XOM) shares surged to 2025 highs, while a series of headlines about India and other major buyers of Russian oil reinforced strong fundamentals to the fakeout. zoom_out_map Exxon (XOM) 3-Day Chart, November 12, 2025 – Source: TradingView But that would hardly fit this year’s pattern for Oil, which has preferred to zig-zag in a cloud of pricing confusion. As discussed in last month’s Oil analysis, almost every price pop has been followed by a sharp correction, resulting in a rangebound-but-downtrending market.The latest catalyst came from the Monthly OPEC report released this morning. It highlighted high US strategic reserves, sluggish Chinese growth, and persistent oversupply from nations funding their conflicts—such as Russia and Iran. The report offers a mine (pun intended) of insightful charts and is worth even a quick glance – You can access it right here.This dynamic may extend across the energy complex, as other commodities have stalled since the 2022 price spikes, plateauing through much of this year. zoom_out_map Trends in Energy Commodities throughout the year, November 12, 2025 – Source: OPEC OPEC+’s internal rivalries only add to the pressure, with member states competing for market share while the major producers continue to flood the market amid elevated supply regimes.Let's dive in our multi-timeframe analysis for WTI Oil. Read More:USD/JPY Outlook as it hits 155.00: PM Takaichi drives the pair to new cycle highsRisk-off reality: Altcoin weakness emerges as tech flows dry upLarge rotation from tech as ADP employment scares again – Market wrap for the North American session - November 11US Oil multi-timeframe analysisDaily Chart zoom_out_map US Oil (WTI) Daily Chart, November 12, 2025 – Source: TradingView Still evolving in a key downward channel, Oil has been contained by its 50-Day moving average throughout the past week and really stands out as the key technical indicator to watch.Breaking below its $59 to $60 support yet again, there isn't much to restrain prices from re0-entering the 2025 low support region between $55 to $57.The lows of the channel is a level to keep in mind at around $55.70 which would come very close to the Liberation Day lows.As long as prices fail to break and close above the 50-Day MA, the downtrend has more probabilities to hold.4H Chart and levels zoom_out_map US Oil (WTI) 4H Chart, November 12, 2025 – Source: TradingView Levels to place on your WTI charts:Resistance LevelsKey September Resistance $65 to $66Sep Support now resistance $62 to $63$61.50 50-Day MA$59 to $60 2021 Support now Pivot (breaking)Support Levels$55 to $57 2025 SupportOct 20 lows $56.38$55.70 channel lowsCurrent lows $58.561H Chart zoom_out_map US Oil (WTI) 1H Chart, November 12, 2025 – Source: TradingView The 1H picture shows one of bear dominance in this morning of price action which even led to the breakdown of this week's fresh Downward hourly channel.Still, the 1H RSI is oversold, which is slowing the current fall.A daily Close below hints at further downside, while a return within keeps a more balanced-bearish outlook.Expect more volatility looking forward and keep an eye on geopolitical headlines.Safe Trades!Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2025 OANDA Business Information & Services Inc.