Market Highlight 14/11/2025
U.S. equities tumbled sharply on Thursday, with Nvidia and other prominent AI names plunging as investors trimmed rate-cut expectations amid renewed concerns about inflation and growing divisions among Federal Reserve officials over the state of the U.S. economy. The Dow fell 1.6%, the S&P 500 lost 1.66%, and the Nasdaq dropped 2.29%. With the U.S. government officially reopened, the U.S. Dollar Index slipped 0.35% to 99.14, while EUR/USD rose 0.4% to 1.1638.
Gold retreated after touching a three-week high earlier in the day, as broad risk-asset selling emerged following the government’s reopening. Spot gold fell 0.65% to $4,171.10 per ounce. Oil prices were little changed after dropping more than 4% the previous session, as investors balanced persistent concerns over global oversupply against upcoming sanctions on Russia’s Lukoil that may disrupt supply.
Key Outlook 14/11/2025
The Eurozone will release its revised Q3 GDP year-over-year reading today, with expectations pointing to a stable growth rate of around 1.3%. Data from the first three quarters suggests the Eurozone economy has broadly maintained a steady recovery. This moderate pace of expansion may reinforce the European Central Bank’s inclination to keep policy unchanged.Investors should closely monitor whether the actual data aligns with expectations and how it may impact the euro’s exchange rate.
Key Data and Events Today
- 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 **
Key Data and Events Coming Week:
- Monday: JP GDP, CA CPI, US NY Empire State Manufacturing Index
- Tuesday: RBA Meeting Minutes, US ADP Employment Change Weekly, US Manufacturing & Industrial Production
- Wednesday: API Crude Oil Stock Change, GB CPI & PPI, EU CPI, US Housing Starts & Building Permits, EIA Crude
Oil Stocks Change
- Thursday: FOMC Minutes, CN Loan Prime Rate 1Y, GERMANY PPI, CA PPI, US CB Leading Index, US Initial Jobless Claims
- Friday: AU/JP/EU/GB/US Manufacturing PMI Flash, CA Retail Sales, US Michigan Consumer Sentiment
Markets Analysis 14/11/2025
EURUSD
- Resistance: 1.1669/1.1692
- Support: 1.1592/1.1568
EUR/USD hovered near 1.1630 as a softer dollar followed fading Fed rate-cut bets, now below 50%. With the U.S. government reopened, upcoming data may reveal labour-market softness and limit further USD gains. Technically, the pair has broken above the descending trendline and is holding above 1.1592, keeping the door open for a retest of 1.1669 if buyers defend this zone.
GBPUSD
- Resistance: 1.3231/1.3274
- Support: 1.3049/1.3007
GBP/USD steadied near 1.3120 after a sharp pullback, with UK political tensions and soft labour data reinforcing expectations of a December BoE cut. The pair held above 1.3100 as the dollar weakened post-shutdown, while the technical structure shows buyers defending the 1.3049–1.3007 zone, keeping room for a rebound toward 1.3231 if support holds.
USDJPY
- Resistance: 155.24/155.70
- Support: 153.74/153.28
USD/JPY slipped toward 154.50 as divided Fed rate-cut expectations pressured the dollar, but yen gains remained capped on fears Japan’s new administration could push the BoJ to delay tightening. Technically, the pair continues to respect the ascending trendline and the 153.74 demand zone, keeping the bias tilted higher toward 155.24 if the structure holds.
US Crude Oil Futures (DEC)
- Resistance: 61.06/61.86
- Support: 57.72/56.94
WTI hovered near $58.7/bbl after a sharp 4% slump, as traders balanced persistent oversupply against potential disruptions from upcoming Lukoil sanctions. Technically, prices remain pressured below the descending trendline and the $61.06 resistance, with the structure favouring a downside continuation toward $57.72 if momentum weakens again.
Spot Gold
- Resistance: 4218/4259
- Support: 4115/4084
Spot Silver
- Resistance: 54.46/55.49
- Support: 51.04/49.99
Gold pulled back to around $4,152/oz after failing to hold its three-week high near $4,245, as hawkish Fed remarks tempered December rate-cut bets. Still, the metal remains supported above the $4,115–$4,084 demand zone, with the chart suggesting room for a rebound toward $4,218 once the pullback stabilises.
Dow Futures
- Resistance: 48015/48191
- Support: 47079/46858
The Dow futures slid 1.65% to around 47,457 as investors rotated out of tech, but the broader uptrend remained intact. Price is now testing the rising trendline and the 47,079 support area, where dip-buying interest may re-emerge. A rebound toward 48,015 is likely if this zone holds.
NAS100
- Resistance: 25426/25714
- Support: 24499/24207
The NAS100 slid 2.29% as Nvidia- and Tesla-led weakness deepened the tech selloff amid fading rate-cut hopes. Price is now hovering near 25,000, with support seen around 24,499. If buyers defend this zone, a rebound toward 25,426 may follow.
BTC
- Resistance: 102166/103181
- Support: 96850/95560
Bitcoin hovered near $99,300 as weak institutional flows and persistent U.S. ETF outflows kept sentiment subdued. The price remains capped below the $102,166 resistance, with repeated lower highs indicating a bearish structure. A break of $96,850 could open room for deeper downside.
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