Market Highlight 13/11/2025
U.S. stock indexes ended mixed on Wednesday, with the Dow Jones Industrial Average closing at a record high as investors rotated out of expensive technology shares, dragging the Nasdaq lower. The Dow rose 0.68%, the S&P 500 edged slightly higher, while the Nasdaq slipped 0.26%. Traders are assessing how the flood of economic data expected after the U.S. government reopens will influence the Federal Reserve’s rate policy. The U.S. Dollar Index inched up 0.05% to 99.50. The euro edged up 0.04% to 1.1585, while the dollar strengthened 0.33% against the yen to 154.66, after touching 155.04 — its highest level since February 4.
Gold prices surged 1.7% as U.S. Treasury yields fell ahead of a House vote to reopen the government, with markets still betting on a Fed rate cut in December. Spot gold rose 1.7% to $4,198.46 per ounce, reaching as high as $4,211.51 — its highest since October 21. Oil prices plunged over 4% after OPEC released a report projecting that global oil supply will match demand by 2026, signalling a shift from a supply deficit to a balanced market outlook.
Key Outlook 13/11/2025
The U.S. government shutdown negotiations are progressing, with the closure potentially ending as early as Thursday. The U.K. will release its preliminary Q3 GDP data, expected to show an annual growth rate holding at 1.4%. Both manufacturing and industrial output are forecast to turn negative on a monthly basis. Following the recent unexpected rise in the U.K. unemployment rate, weak GDP data could further reinforce market expectations for a Bank of England rate cut.
Key Data and Events Today
- 15:00 GB GDP Growth Rate QoQ Prel Q3 ***
- 15:00 GB Industrial Production MoM SEP **
- 17:00 IEA Oil Market Report **
- 18:00 EU Industrial Production YoY SEP **
Tomorrow:
- 01:00 EIA Crude Oil Stocks Change **
- 10:00 CN Industrial Production YoY OCT **
- 18:00 EU GDP Growth Rate YoY 2nd Est Q3 ***
- 18:00 EU Employment Change QoQ Prel Q3 **
Markets Analysis 13/11/2025
EURUSD
- Resistance: 1.1616/1.1639
- Support: 1.1545/1.1515
EUR/USD steadied near 1.1590, holding above key support at 1.1545 while facing resistance near 1.1616. Traders await the U.S. House vote to end the government shutdown, as mixed Fed signals cloud December’s rate-cut outlook. A breakout above 1.1616 could open the way toward 1.17, while a dip below 1.1545 would weaken bullish momentum.
GBPUSD
- Resistance: 1.3188/1.3231
- Support: 1.3049/1.3007
GBP/USD edged lower toward 1.3100, weighed by UK political uncertainty surrounding PM Starmer and weak labour data. The pair remains capped below the 1.3188 resistance, with support at 1.3049. A break beneath 1.3049 could extend losses toward 1.3007, as markets price in a 90% chance of a December BoE rate cut.
USDJPY
- Resistance: 155.70/156.16
- Support: 154.20/153.74
USD/JPY hovered near 154.05, finding temporary support above 154.20 amid short-covering in the Yen. However, Japan’s fiscal expansion and BoJ policy uncertainty continue to cap Yen strength. If prices hold above the trendline support, bulls may target 155.70, while a break below 154.20 could invite deeper correction.
US Crude Oil Futures (DEC)
- Resistance: 60.09/61.06
- Support: 56.94/55.96
WTI crude plunged over 4% to around $58.30, as OPEC’s forecast of balanced supply and demand in 2026 erased bullish sentiment. Technically, the break below $60.09 confirmed bearish momentum, with the next support near $56.94. Any rebound toward $60.09–$61.06 may face renewed selling pressure.
Spot Gold
- Resistance: 4259/4289
- Support: 4115/4084
Spot Silver
- Resistance: 54.46/55.49
- Support: 52.10/51.04
Gold surged to around $4,195/oz, its highest since late October, supported by falling U.S. yields and stronger expectations for Fed rate cuts. The metal faces resistance near $4,259, while $4,115 acts as key support. Sustained momentum above $4,200 could open the path toward $4,300 as risk-hedging demand stays firm.
Dow Futures
- Resistance: 48773/48951
- Support: 47791/47616
The Dow futures advanced 0.68% to a record 48,254.82, extending its winning streak as optimism over the U.S. government’s reopening boosted financials and healthcare. The uptrend remains firm above the 47,791 support zone, with potential to test 48,773 next if bullish momentum persists.
NAS100
- Resistance: 25950/26179
- Support: 25193/24960
The NAS100 dipped 0.26%, pressured by profit-taking in AI stocks after SoftBank trimmed stake in Nvidia.. Yet, the index held above the 25,193 support and preserved its ascending trendline. A rebound toward 25,950 remains possible if risk sentiment improves.
BTC
- Resistance: 105595/107658
- Support: 98914/96885
Bitcoin hovered near $104,770, showing little reaction to the U.S. government reopening optimism as traders favoured equities. Technically, $105,595 remains key resistance, while $98,914 provides support to the base. Mixed sentiment persists following China’s $13 billion theft accusation and JPMorgan’s launch of the “JPM Coin” .
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