Market Pulse — November 17, 2025

Markets try to stabilize after last week’s risk-off slide. Stocks are mixed, gold drifts lower but remains 2025’s standout performer, oil trades around $60 on Russian supply headlines, and Bitcoin sinks to multi-month lows as liquidity dries up.

📊 Today’s Snapshot

📈 Stocks: Global equities are mixed as traders brace for a wave of delayed U.S. data and big tech earnings, including Nvidia later this week.
🥇 Gold: Slips for a third session, holding in the low-$4,000s after Friday’s sharp drop, but still up more than 50% year-to-date.
🛢️ Oil: Trades near $60 as loadings resume at Russia’s Novorossiysk port; markets see Brent in a $60–$70 range near-term.
💵 Forex: The dollar edges higher with EUR/USD around 1.16 as traders reassess December rate-cut odds and await fresh U.S.
🪙 Crypto: Bitcoin drops toward the mid-$90Ks, hitting multi-month lows after a 25%+ slide from its peak; ETF outflows and thin liquidity weigh on sentiment.

🏦 What’s Moving Markets

📉 Equities / Macro

Global stocks started the week on a cautious note. U.S. futures pared earlier gains as traders looked ahead to a data-heavy calendar and key tech earnings, including Nvidia, which have become bellwethers for the broader AI-driven rally. Asian and European indices were mixed, with investors balancing last week’s rebound against lingering concerns over rates, earnings quality, and geopolitical risks.

🥇 Gold

After shedding more than 2% on Friday, gold traded slightly lower but largely steady, holding near the low-$4,000s as markets awaited U.S. economic data and updated Federal Reserve signals. Despite the recent pullback, bullion remains one of 2025’s best-performing major assets, up over 55% year-to-date, even as some analysts warn that the “scorching” rally is vulnerable if the rate-cut timeline slips further.

🛢️ Oil

Oil prices eased after confirmation that loadings had resumed at Russia’s Novorossiysk port, reversing part of last week’s supply-risk spike. Brent hovered in the mid-$60s and WTI around $60, with markets increasingly assuming a $60–$70 range for Brent in the near term as rising inventories and 2026 surplus forecasts offset geopolitical tensions.

💵 Forex

The U.S. dollar edged higher, with the dollar index nudging up and EUR/USD slipping back toward the 1.16 area as traders trimmed expectations of a December rate cut below 50%. Short-term analysis sees EUR/USD probing resistance after last week’s correction, while policy divergence keeps pressure on the yen and other low-yielding currencies. Emerging-market FX and commodity currencies remain sensitive to both oil path and risk sentiment.

🪙 Crypto / Digital Assets

Crypto markets started the week on the back foot. Bitcoin and Ether fell to multi-month lows as liquidity thinned and outflows from spot ETFs accelerated, confirming a broader downtrend across major tokens.
BTC has now round-tripped its 2025 gains, dropping more than 25% from its October high near $126K and briefly trading below $94K, erasing hundreds of billions in market value as conviction among leveraged and shorter-term holders fades. Altcoins underperformed, and on-chain metrics show hashprice and miner economics also under pressure.

📈 Quick Technical View

🥇 XAU/USD: Consolidating after Friday’s flush; immediate support seen in the $4,020–$4,050 area, with resistance near $4,120 then $4,200.
🛢️ WTI Crude: Holding around $60; short-term range bias ~$58–$62 while markets digest Russian supply headlines and demand forecasts.
💶 EUR/USD: Stuck in a 1.155–1.170 band; a close above 1.171 would strengthen bullish momentum, while a break below 1.155 re-opens downside.
💴 USD/JPY: Elevated; watching 151.5–153.0 for potential volatility spikes if intervention chatter returns.
₿ BTC/USD: Bearish bias while below ~$100K; resistance near $97K–$100K, with downside focus on $90K if selling persists.
📈 S&P 500 Futures: Neutral after Friday’s bounce; support near 5,050 / resistance around 5,160 into this week’s data and earnings.

🔮 FXSMS Outlook (Not Financial Advice)

This week’s theme is data and liquidity. If upcoming U.S. releases soften rate-cut expectations further, the dollar could stay supported and keep pressure on gold and risk assets, even as gold remains structurally strong year-to-date. Crypto is in a position-clean-up phase—until BTC can reclaim the $100K zone, rallies may be treated as opportunities to reduce risk rather than start new longs. Oil looks anchored around $60 unless there is a fresh, sustained disruption to Russian exports.

📡 Get real-time forex, crypto, and stock signals at fxsms.io.