Market Pulse — November 13, 2025

Markets tread water as the U.S. government reopens and traders await a flood of delayed data. Gold pushes to a three-week high, oil extends losses on supply worries, the dollar is mixed, and Bitcoin holds a tight range.

📊 Today’s Snapshot

📈 Stocks: U.S. futures muted; Europe mixed with the FTSE 100 lower after soft GDP and energy weakness.
🥇 Gold: Extends its rise to ~3-week highs near $4,200/oz on softer dollar tone and rate-cut bets.
🛢️ Oil: Slips again as U.S. inventories rise and agencies flag a larger 2026 surplus; Brent hovers low-$60s.
💵 Forex: Dollar steadies after earlier softness; yen weak vs euro as Japan signals slower hike path.
🪙 Crypto: Bitcoin trades choppy around $101–103K after a mid-week pullback; volumes elevated on breakdown attempts.

🏦 What’s Moving Markets

📉 Equities / Macro

With the U.S. shutdown resolved, investors are bracing for a backlog of economic releases that could reshape rate expectations. U.S. equity futures were largely flat, while the FTSE 100 underperformed on weak GDP and energy shares.

🥇 Gold

Gold rallied for a fifth session to a ~3-week high as traders priced in a higher probability of Fed rate cuts in 2026 and as data resumed, reducing uncertainty. Ongoing central-bank buying and a softer dollar backdrop supported the move.

🛢️ Oil

Crude prices fell again after U.S. inventory builds and fresh IEA/OPEC surplus signals for 2026. The narrative has turned toward ample supply into next year, keeping rallies capped despite occasional geopolitical noise.

💵 FX

The dollar was mixed: slightly easier versus gold-sensitive pairs but firmer against some cyclical FX. The yen remained soft after Japan’s new PM endorsed a gradual policy path, sending EUR/JPY to fresh highs.

🪙 Crypto / Digital Assets

Bitcoin slid mid-week but stabilized in the $101.5–103K band. Flows show higher intraday turnover on breakdown probes; traders watch $101K support and $105K resistance for the next impulse.

📈 Quick Technical View

🥇 XAU/USD: Bullish while above $4,160; resistance $4,220/$4,260. Pullbacks toward $4,120 likely get bought if USD stays soft.
🛢️ WTI Crude: Bearish bias below $60–$61; next support near $57.50 if builds persist.
💴 USD/JPY: Elevated; watch 152.0/153.0 for intervention risk, with 150.5 as first support.
💶 EUR/USD: Range 1.156–1.172; close above 1.171 to brighten momentum ahead of the data dump.
₿ BTC/USD: Neutral-to-soft; support $101–101.5K, resistance $105–105.5K. Break sets the next $5K leg.
📈 S&P 500 Futures: Sideways; 5,120 support / 5,190 resistance into the data restart.

🔮 FXSMS Outlook (Not Financial Advice)

With the U.S. data pipeline switching back on, volatility risk rises. A softer data tone would likely keep gold bid and cap the dollar, while persistent inventory builds should keep oil range-to-lower. For BTC, a daily close back above ~$105K is needed to repair momentum; a slip under ~$101K invites $98–99K tests.

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Gold Hits 3-Week High as Oil Falls and Bitcoin Holds $102K