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Date: 5th November 2025.

Tech Sell-off and Bitcoin Crash: Is Market Euphoria Finally Cooling?


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The global rally in stocks and cryptocurrencies is facing its first serious test in months. Sharp declines in major technology shares and a wave of Bitcoin liquidations have shaken investor confidence, prompting questions over whether markets are simply taking a breather, or signalling something deeper.

Tech Stocks Lead the Market Pullback

Asian and US markets turned lower this week as technology-heavy indices erased part of their 2025 gains. Seoul and Tokyo exchanges fell nearly 5% from Tuesday’s peaks, while the Nasdaq dropped 2%, with futures pointing to further weakness.

The hardest-hit names were those that had led the artificial intelligence boom. Nvidia, once crowned the world’s most valuable company, slid 4%, extending its decline to 7% below last month’s record. Meanwhile, Palantir Technologies dropped 8% despite strong earnings, highlighting just how stretched valuations have become.

Fund managers suggest the downturn reflects profit-taking rather than panic, a typical pattern as investors lock in gains ahead of year-end. As Angus McGeoch from Barrenjoey noted, ‘Managers don’t want to give up too much, but if the market rebounds, they’ll be quick to re-enter.’

Even after the decline, the Nasdaq remains over 50% higher since April, suggesting that the broader uptrend is still intact.

AI Stocks: Reset or Reality Check?

The correction has reignited the debate over whether the AI-driven stock rally has overheated. Wall Street executives, including those from Goldman Sachs and Morgan Stanley, have warned of potential pullbacks after a year of rapid gains.

Adding to the caution, South Korea’s regulator issued a standard warning on SK Hynix, which has tripled in a year but has now lost 6% in two days. Saxo Bank’s Charu Chanana called the move ‘healthy,’ adding that a short-term reset is preferable to a larger market unwind later.



Bitcoin Mirrors the Market’s Mood

The cryptocurrency market has followed a similar pattern. Bitcoin (BTC) dropped over 20% from its October record above $126,000, briefly dipping below the $100,000 mark for the first time since June.

Long-term holders have liquidated an estimated $41.6 billion in BTC, marking one of the largest sell-offs in recent memory. This wave of selling has been accompanied by mounting pressure on miners, whose profitability has hit its lowest point in months due to rising energy costs and falling rewards.

Over $1.3 billion in crypto positions were liquidated in just 24 hours, underscoring the severity of the correction. However, some contrarian investors have stepped in to buy the dip, showing that long-term confidence in Bitcoin remains resilient.

Macro Developments: Trade Relief Meets Policy Uncertainty

Interestingly, the Bitcoin sell-off coincides with a positive geopolitical development. China’s decision to suspend additional tariffs on US goods for one year has eased trade tensions, removing a major source of market anxiety.

However, optimism is tempered by domestic political instability in the US, including a prolonged government shutdown and ongoing uncertainty around future digital asset regulations. These factors have combined to create a highly volatile environment for both equities and cryptocurrencies.

Bitcoin and Stock Market Technical Outlook

On the charts, Bitcoin’s 50-week simple moving average (SMA) around $102,900 remains a key support level. Historically, this line has acted as a springboard for previous recoveries. A decisive break below $100,000 could open the door towards $94,000 or even $85,000, according to InvestingHaven and Sevens Report analysts.

For equities, investors are watching whether the tech sector can stabilise and reassert leadership. If so, the pullback could quickly prove to be a buying opportunity rather than the start of a bear trend.

The Bottom Line: A Healthy Pause in an Overheated Market

Both the stock and crypto markets are experiencing their first meaningful correction after months of relentless gains. For now, analysts view this as a healthy reset, not a crisis.

While uncertainty around regulation, earnings, and policy remains, easing trade tensions and robust long-term trends in AI and blockchain continue to support the broader bullish narrative.

In other words, this may not be the end of the rally, just the market catching its breath.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 6th November 2025.

BoE’s Dovish Hold Sets Stage for December Cut as GBPUSD Forms Bearish ‘M’ Pattern.


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The Bank of England kept its benchmark rate unchanged at 4.00%, but the decision came through an unusually close 5-4 split vote, with four members already favouring a rate cut. The narrow margin underlines a growing shift within the Monetary Policy Committee (MPC) towards easing policy sooner rather than later, likely as early as December.

A Dovish Hold with a Divided Committee

The BoE’s policy statement revealed a notably softer tone, acknowledging that inflation risks have become less pressing and that domestic price pressures are easing faster than expected. Governor Andrew Bailey said the outlook is now ‘more balanced,’ though he remains cautious, insisting the Bank needs ‘further evidence’ before moving on rates.

Among the nine MPC members, Breeden, Ramsden, Dhingra and Taylor voted for a 25 bps cut, arguing that monetary conditions have become too restrictive amid weakening demand and signs of fading inflation momentum. In contrast, Mann and Pill warned that premature easing could risk inflation persistence, preferring to maintain the current stance.

The BoE’s revised guidance, now saying rates are ‘likely to continue on a gradual downward path,’ omitting the previous ‘careful’ qualifier, reinforces expectations for a rate cut in December, especially once the autumn budget passes.

GBPUSD Reaction: Up but Off Highs

Despite the dovish tilt, GBPUSD initially climbed to 1.31, buoyed by broad USD weakness and expectations that the BoE’s gradual easing path might still offer near-term support to sterling. However, the pair later retreated towards 1.3065, reflecting profit-taking and a shift in risk sentiment following a sharp rise in US job-cut data.

US Challenger announced job cuts spiked 153.1k in October following the 54k increase in September. It is the largest gain for an October since 2003. Technology and warehousing led the jump. For the year-to-date, announced layoffs total 1.09k. The y/y pace surged to a 175.3% clip from -25.8% previously. Challenger noted some companies are downsizing after the pandemic boom. But AI, weaker consumer and business spending, and rising costs are factors too. Announced hirings increased 165.8k following September's 115.8k gain. Technology led the way with 250k, followed by retail at 16k.

This was the largest October increase since 2003, a stark reminder that AI-driven restructuring and post-pandemic corrections are cooling the job market. The US dollar index (DXY) fell back below 100 following the data.



Technical Picture: ‘M’ Formation Points to Potential Downside

On the daily chart, GBPUSD has formed a clear ‘M’ formation, a classic double-top pattern signalling the long-term trend exhaustion. The neckline currently sits near 1.3150, and a confirmed continuation below this level could open the door toward the 1.27-1.28 area, especially if market sentiment turns risk-off or if US data support a dollar rebound. For now, the USD seems to have run out of steam.

From a risk management perspective, sellers currently hold a better risk-to-reward setup near the 1.3150 resistance and the major downward trendline, aiming to target new lows if the bearish momentum extends below 1.3000. Buyers, on the other hand, will look for a decisive breakout above 1.3140 to gain conviction and potentially extend the pullback toward new highs.

GBPUSD Technical Analysis – 4-Hour Timeframe

On the 4-hour chart, the price action remains more constrained. The two key resistance zones are still clustered around 1.3140 and 1.3250, where the major descending trendline comes into play. Until a breakout occurs on either side, short-term traders are likely to see choppy consolidation, with intraday momentum dictated by incoming US labour and inflation data.

Outlook

The BoE’s dovish split marks a turning point for UK monetary policy, signalling that the next move is down, not up. With inflation decelerating and growth subdued, the Bank seems ready to prioritise supporting demand over tightening further.

Still, the pound’s direction in the coming weeks will hinge on two key drivers:

* The December BoE meeting, confirmation of a cut could accelerate sterling weakness.
* US data trajectory, further signs of labour market stress or Fed dovishness could offset sterling downside through a softer dollar.

For now, traders will be watching the 1.3050 neckline and 1.3140 resistance closely. A sustained break below the former could validate the M-formation and accelerate bearish momentum, while a rebound above the latter might signal the start of a corrective rally before December’s pivotal BoE decision.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 7th November 2025.

Stocks Struggle Due to US Shutdown and AI fears.


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The NASDAQ drops to a 2-week low as investors grow uneasy about high tech valuations during the ongoing US government shutdown. The lack of employment data is also concerning investors, as neither the market nor the Fed are able to appropriately price the market. The US ADP Employment Change is the only employment figure still being made public. The figure rose above expectations and read higher than the previous month.

NASDAQ-US Shutdown Creating a Low Risk Appetite

The NASDAQ fell by 1.75% on Thursday and is the worst-performing index of the week along with the Nikkei 225. When analysing the individual stocks within the NASDAQ, the downward price movement is not necessarily being caused by large losses. The real damage lies in the limited number of stocks showing gains or even maintaining their value. From the most influential stocks, only 11% rose in value on Thursday.

For this reason, analysts can see the price is not being pulled down by a limited number of stocks experiencing high losses but the overall market sentiment. The main concern for the market is the ongoing US shutdown (38 days) which is now the longest in history. In addition to this, investors are concerned that the price is trading very close to all-time highs while significant risks within the market remain.

Senate Republicans plan a key vote this afternoon on a funding bill to extend operations beyond November 21st. However, talks remain stalled as Democrats push for renewed health-care subsidies, which Republicans oppose.

In addition to the US shutdown, AI is also another concern, particularly after the NVIDIA CEO said in a recent interview that China may win the ‘AI race’ due to lower energy costs and access to materials.

AI Doubts & Expenses Pressuring the NASDAQ

Rising fears of an AI valuation bubble have sparked sell-offs across major tech stocks. Even strong earnings from companies like Palantir failed to reassure investors, who now question the sustainability of AI-driven growth. Meanwhile, Meta’s soaring AI infrastructure costs have fuelled concerns over low returns and increasing risk.

On Thursday, Palantir Technologies fell by 6.85% and AMD fell by 7.25%. The stock which saw the strongest gains was Datadog, which rose by 23% due to strong earnings. However, Datadog stocks only hold a weight of 0.21%.

US Supreme Court Hearing on Tariffs

Investors are watching the US Supreme Court review of the Republican administration’s trade tariffs. Justices questioned Trump’s authority, noting that the tariffs act as a new tax on businesses and consumers and expand executive power over Congress. The announcement and final decision are likely to create high volatility amongst US stocks and the US Dollar.

No ruling has been issued, but Treasury Secretary Scott Bessent said the White House will seek alternative protectionist measures if the decision is negative.

NASDAQ (USA100) - Technical Analysis

The price of the NASDAQ is now trading at the resistance level which has been flipped into a support. This is a well-known support level. However, if the price does not find support here, the next support level can be found at $24,009, which is almost 5% lower than the current price.


NASDAQ (USA100) 2-Hour Chart

On the 2-hour timeframe, the price is trading below the main moving averages and in line with the VWAP. The price is also forming clear lower lows and lower highs. For this reason, technical analysis is pointing towards continued price weakness. However, if the NASDAQ rises above $25,512, the bearish bias starts to fade.

Key Takeaways:

* NASDAQ falls 1.75% to a 2-week low, driven by weak market sentiment amid the 38-day US government shutdown.
* Limited stock gains, not large losses, are causing the downturn; only 11% of the most influential NASDAQ stocks rose on Thursday.
* AI concerns and rising infrastructure costs at companies like Meta fuel fears of an AI valuation bubble.
* Investors monitor the US Supreme Court tariff review, which could trigger volatility in US stocks and the Dollar.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Michalis Efthymiou
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 12th November 2025.

Bitcoin Holds the Line at $100,000: Support or Stall?


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After several weeks under selling pressure, Bitcoin seems to be finding its footing. The world’s largest cryptocurrency has paused its decline around the $100,000 level, an area reinforced by the 50-week simple moving average (SMA) and the lower Bollinger Band, two key indicators that often act as major long-term supports.

This confluence suggests that BTC’s current range may represent a short-term floor, though momentum remains fragile.

On the weekly chart, the Relative Strength Index (RSI) and Stochastic oscillator continue to trend lower, with the latter nearing oversold territory. The MACD also remains deep in negative territory, underlining persistent bearish sentiment.


NASDAQ (USA100) 2-Hour Chart

Yet, the daily chart shows tentative improvement. The Stochastic has begun recovering from oversold levels, while the RSI edges towards neutral ground. Meanwhile, the MACD lines are nearing a potential bullish crossover, a setup that, if confirmed, could open the door for renewed upside momentum.

Key levels to watch:

* Support: $104,000 and $100,000 (50-week SMA and lower Bollinger Band)
* Resistance: $106,500 and $109,000

Bitcoin appears to be stabilising, but a convincing recovery will require sustained strength above the $109,000-$112,000 area.

The Bigger Picture: Can the Bulls Reclaim Control?

Bitcoin’s recent pause coincides with a modest recovery in risk appetite, a mix of technical consolidation and cautious macro optimism. Renewed hopes for a US government shutdown lifted crypto alongside equities. Still, this isn’t a story of quick rebounds, it’s about whether the right combination of technical signals, liquidity, and investor sentiment can realign to invite bulls back before year-end.



Fundamentals: A Market Catching Its Breath

Hovering around the $100,000 psychological level, Bitcoin sits at a crucial point between consolidation and recovery. The short-term holder cost basis near $112,500 marks a key boundary, breaking above it could confirm renewed accumulation.

Roughly 71% of BTC supply remains in profit, which historically signals a mid-cycle cooldown rather than a full bear market. Yet momentum has cooled: long-term holders have offloaded more than 300,000 BTC since July, a rare occurrence hinting at fatigue rather than panic.

Despite the slowdown, the broader picture remains stable. The Relative Unrealised Loss ratio sits near 3%, suggesting traders remain defensive but not distressed. In essence, traders seem to be hedging exposure rather than exiting positions, a sign of consolidation, not collapse.

BTC Market Structure: The Hidden Drivers of Volatility

Beyond headlines and price swings, deeper market mechanics are shaping Bitcoin’s recent behaviour. Shifts in funding rates, collateral settings, and ETF hedging activity have become key drivers of short-term volatility.

October’s shakeout, which wiped out nearly $19 billion in leveraged positions, underscored how changes in derivatives spreads can move Bitcoin as sharply as any macro event. When basis spreads widen, arbitrage traders tend to buy spot and short futures, reducing exchange supply and lifting prices. When those spreads compress, the unwind has the opposite effect, adding supply and pressure.

ETF Flows: Demand Slowly Returns
After six consecutive sessions of outflows totalling $660 million, US-listed Bitcoin ETFs have finally flipped back to net inflows, with around $240 million entering the market. While one day of green doesn’t erase a week of red, it signals a possible turning point, the largest institutional buyers may be shifting back to accumulation.

ETF flows are now one of the clearest barometers of real demand. A sustained streak of five to ten days of inflows could ease mechanical sell pressure and re-establish a structural bid capable of pushing BTC back above key resistance levels around $112,000-$113,000. Until then, investors remain cautiously optimistic.

Liquidity: The Hidden Bullish Catalyst
The global liquidity backdrop is quietly becoming more supportive. The world’s broad money supply has climbed to a record $142 trillion, up nearly 7% year-on-year, while signals from the New York Fed suggest that quantitative tightening may soon pause, or even reverse.

If central banks maintain looser liquidity conditions, Bitcoin could again act as a magnet for both speculative and institutional capital, mirroring earlier reflation phases when ample cash searched for higher returns in crypto and equities.

Holder Activity: Conviction, Not Capitulation
Recent headlines about ‘OG whale dumping’ only tell part of the story. On-chain data reveals that much of this movement stems from address upgrades, custody migrations, or collateral use, not mass liquidation.

Meanwhile, ETF investors have shown remarkable resilience, holding through a 20% correction without significant withdrawals. The takeaway? Conviction hasn’t disappeared, it’s simply shifting hands, from long-time holders to more structured, institutional participants.

As liquidity builds and ETF demand stabilises, Bitcoin’s foundation appears solid, even if sentiment is still recovering.

Bitcoin Price Forecast: What’s Next for BTC?
The $100,000 level remains a pivotal line in the sand. A decisive bounce from this zone could reinforce confidence among both short-and long-term participants. A confirmed move above $112,000 could open the path toward a broader recovery, possibly testing $120,000–$125,000 by year-end if ETF inflows persist and liquidity expands globally. Conversely, failure to defend the $100,000 level could trigger another retest toward $95,000, where strong historical support lies.

For now, Bitcoin’s outlook remains cautiously bullish, supported by solid structural underpinnings but constrained by weak momentum. Traders and investors should continue to watch ETF flows, liquidity indicators, and key resistance levels to gauge whether this is simply a mid-cycle pause or the start of the next Bitcoin uptrend.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 13th November 2025.

US Shutdown Ends, Fed Split on Rate Cuts, and UK Data Weighs on the Pound


Trading Leveraged products is Risky

The longest government shutdown in the history of the US has officially come to an end. However, even with the shutdown over, today’s inflation report may still be postponed. According to Goldman Sachs, the Bureau of Labor statistics will likely schedule the NFP Employment Change for early next week.

Economists and analysts continue to expect the inflation rate to remain at 3%, with employment continuing to weaken. As a result, the stock market continues to rise, while the US Dollar remains unchanged. The price movement is largely due to its impact on interest rates. However, two members of the Federal Reserve officially came out opposing a rate cut in December.

As a result, the possibilities of a rate cut fell from 66% to 52% according to the Chicago Exchange. Although many economists continue to advise that the Federal Reserve is still likely to cut rates in December.

GBPUSD - Poor Economic Data Continues For the UK

The British Pound continues to decline for a third consecutive day, with downward momentum gaining due to further poor data. The UK’s employment data was originally triggering the downward price movement of the week. This includes the UK’s Unemployment Rate rising to 5% and salary earnings falling 0.2% below expectations. However, today’s UK Gross Domestic Product further increases the downward momentum.

The UK’s Gross Domestic Product fell from 0.0% to -0.1% and below previous expectations. The GDP expectations, which are also made public by the Office For National Statistics, also fell from 0.3% to 0.1%. Since the announcement at 07:00 (GMT), the price of the Pound fell 0.17%, but has since seen up-and-down volatility.

A positive factor for the Pound is Health Minister Wes Streeting de-escalating the latest political tensions. Sources within the Labour Party also reported a possible leadership change, with Health Minister Wes Streeting emerging as a potential candidate. However, Mr Streeting has since advised he has no desire to oust the current UK Prime Minister.

The British Pound is the worst performing currency of the week along with the Japanese Yen. The best performing currency remains the Swiss Franc and Australian Dollar.

NASDAQ - Cisco Beat Earnings Expectations, But Fed Members Oppose a December Cut

The NASDAQ and S&P 500 saw a day marked by contrasting performances between the first and second halves of the day. The NASDAQ rose in value during the Asian and US Sessions but fell during the US session. The decline was largely due to the comments made by two members of the Federal Reserve.

Two Federal Reserve officials voiced opposition to another interest rate cut at the December meeting, adding uncertainty to the Fed’s policy outlook. Previously, members had taken a neutral stance or advised that a cut was not certain. However, in recent weeks this is the first time members have outright opposed a rate cut.

Comments from Susan Collins, President of the Boston Fed, and Raphael Bostic, President of the Atlanta Fed, indicate the rate-setting committee may be shifting away from what was previously expected to be a third consecutive rate reduction next month. If the Federal Reserve does not cut in December, the NASDAQ could decline between 4-7% according to JP Morgan’s Strategists.


NASDAQ (USA100) 30-Minute Chart

A positive factor for the NASDAQ is the end of the US shutdown officially coming to an end as well as the latest positive earnings reports. Last night, Cisco Systems made public their earnings for the 3rd quarter. The company’s revenue beat expectations by $11 million and earnings beat expectations by $0.02. In addition to this, an important factor for shareholders is the company’s forward-guidance figures were significantly higher than previous data.

Cisco stocks rose 3.14% on Wednesday and a further 7% after the announcement of the company’s earnings. On Wednesday, 58% of the most influential stocks (weight above 0.50%) rose in value with AMD stocks witnessing the strongest gains (+9.00%).


NASDAQ Component Performance - 12th Nov

NASDAQ - Technical Analysis

Even with the decline during yesterday’s Asian session the price of the NASDAQ remains above most Moving Averages. The price is also trading slightly above the RSI’s neutral level on the 30-minute timeframe.

The NASDAQ continues to form higher highs and lows, but has not broken above the resistance level at $25,793.00. The price is almost forming a ‘head and shoulders’ price pattern, which would indicate a downward trend. This is something investors will continue to monitor, and if the price falls below $25,570.00, the ‘head and shoulders’ pattern will become more visible. However, if the price rises above $25,662.20, the pattern and bearish signal will fade, and buy signals will strengthen.

Key Takeaway Points:

* US government shutdown ends, but key economic reports such as inflation and employment data may still face delays.
* Rate-cut expectations fell from 66% to 52% after two Fed officials publicly opposed a December reduction.
* Economists and analysts continue to expect the inflation rate to remain at 3%, with employment continuing to weaken.
* UK economic data disappoints, with GDP contracting by 0.1% and unemployment rising, pressuring the British Pound further.
* Cisco released its Q3 earnings, beating revenue estimates by $11 million and EPS by $0.02, with stronger forward guidance. Cisco’s stocks rose 7.00%.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Michalis Efthymiou
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 14th November 2025.

Fed Comments Have Traders Fearing a December Pause!


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Doubts continue to grow over the Federal Reserve’s December rate decision impacting both Gold and the stock market. The US shutdown has come to an end, but agencies have not yet released economic data to help investors determine the state of the US economy and employment sector.

Economists are now advising that certain data such as the NFP figures for October, may not be released at all. This would make it even more difficult for the Federal Reserve to determine if a rate cut is necessary. Particularly if no extreme figures are seen for November. According to the Chicago exchange, the possibility of a rate cut in December is at 50%, the lowest in over a month.

NASDAQ (USA100) - Stock Market Declines

The stock market saw its strongest decline of the week yesterday, with the NASDAQ falling by 2.20% and the Dow Jones by 1.65%. The decline is largely being attributed to fears the Federal Reserve will hold interest rates unchanged in December.


NASDAQ (USA100) - Daily Chart

Tech heavyweights also contributed to the decline as investors worried about fewer expected Federal Reserve rate cuts. NVIDIA illustrates this effect clearly. Overall, 84% of the NASDAQ’s most influential stocks fell on Thursday, signalling strong downward momentum.

NVIDIA was one of the main drivers as the stock fell 3.58% and is the most influential stock holding the largest weight. NVIDIA also continued to decline on Friday, with the stock trading 0.50% lower during the Asian session.

A key factor for NVIDIA and the technology market will be NVIDIA’s earnings report on November 19th. Analysts’ expectations vary, with estimates ranging from $1.17 to $1.23. Some forecast stronger results, while others remain cautious. They also note the figure must exceed expectations by at least 5–6% to boost demand.

As per yesterday’s article, a lack of Fed rate cuts may distort the market’s pricing of US indices. In that case, the NASDAQ may continue falling toward $24,303.10. This decline could continue as long as the Fed issues dovish guidance for 2026. If the Federal Reserve takes a more hawkish approach, the decline could potentially be even stronger. However, this is not something which economists are currently indicating. Most economists advise the Federal Reserve will continue to cut, but the frequency is not known.

US Dollar Index - Hawkish Fed Comments Unable to Support The Dollar

The US Dollar continued to decline on Thursday despite the more hawkish tone from the Federal Open Market Committee. However, there is still some concern over the potential for the Dollar to maintain its value while the Fed lowers rates. Reports from the last 24 hours confirm that European officials are exploring the option of pooling Dollars among non-US central banks. This is being done in order to reduce reliance on US funding mechanisms and the US financial system.


US Dollar Index 3-Hour Chart

The hawkish tone from the Federal Reserve does not yet support the US Dollar Index. However, investors will continue to monitor this. Atlanta Fed President Raphael Bostic said he supports holding rates steady until inflation shows clear progress. Boston Fed President Susan Collins agreed that rates should remain unchanged while the labour market stays stable.

Collins’ stance is especially notable because she previously voted twice in favour of easing monetary policy, yet now appears more cautious. With these shifting views, a pause in the Fed’s “dovish” cycle in December seems increasingly likely. However, upcoming economic data, set to flow again as the government restarts operations, will play a critical role in shaping officials’ final decisions.

Even a modest uptick in inflation, from 3.0% to 3.1%, could prompt the Federal Reserve to adopt a more hawkish position on rate cuts. In such a scenario, the US Dollar may strengthen, while gold and equity markets could face renewed downward pressure.

Key Takeaway Points:

* Market chances for a December rate cut fell to 50%, the lowest in over a month. Stocks and Gold reacted negatively. If the Fed does not cut in December, the NASDAQ may potentially keep falling toward $24,303.10
* US stocks fell sharply, with NASDAQ down 2.20%, driven by tech heavyweights like NVIDIA.
* NVIDIA remains a key market driver, with 19 November earnings needing 5-6% above expectations to boost demand.
* US Dollar Index weakened despite hawkish Fed signals; European officials are considering pooling dollars to reduce reliance on the US.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Michalis Efthymiou
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 17th November 2025.

The US Reopens. Central Banks Pause. What Happens Next?


Trading Leveraged products is Risky

Global Markets Outlook: Uncertainty Persists as the US Reopens and Central Banks Hold Steady

The US government is officially back in operation, but the shutdown has left a mark. Beyond the drag on fourth-quarter growth, the bigger issue now is the integrity of the economic data. Several key surveys were simply not conducted, meaning policymakers may be navigating with only partial visibility for weeks, possibly until 2026. This uncertainty could cloud the Federal Reserve’s view heading into the 9-10 December FOMC meeting. In the meantime, Fed hawks are taking the lead, arguing for a cautious, wait-and-see stance until the labour market and inflation picture becomes clearer.

Elsewhere, central banks are signalling stability, not action. The ECB looks firmly on hold. The BoE’s flexibility is constrained by budget pressures. And in Japan, fiscal and political developments continue to shape the BoJ’s next steps.

United States

This week will finally bring a wave of US economic data back to the markets, with the delayed September nonfarm payrolls report on November 20 expected to attract the most attention. Yet how insightful these releases will be is another question entirely. The information is now outdated, and the October household employment survey may never be recovered. As a result, markets will be relying on older indicators to piece together the state of the economy.

Construction spending, industrial production, factory orders, trade price data, and consumer sentiment will all come through, but the labour market will remain at the center of the debate. Policymakers want to see whether the slowdown in employment is significant enough to justify a rate cut. Hawkish commentary in recent weeks has already pushed expectations lower, with markets now assigning roughly even odds for a cut next month.

Our expectation is for nonfarm payrolls to rise by around 40k, following modest gains in previous months. The unemployment rate is likely to hold steady at 4.3%, while wage growth should maintain a monthly pace of 0.3%, keeping the annual rate at 3.7%. Alternative indicators, from jobless claims to ISM employment components, suggest cooling rather than collapsing labour conditions. If data land in line with these expectations, it would strengthen the argument for holding rates steady.

This week will also be dominated by a packed Fedspeak calendar. Key policymakers, including Jefferson, Waller, Williams, Kashkari, Barr, Barkin, Logan, and Goolsbee, will be delivering remarks across the week. Their commentary following the jobs report will be particularly important, especially for understanding the direction of the December meeting. The release of the FOMC minutes on Wednesday adds another layer to an already heavy calendar.

Canada

Canada will release October CPI and retail sales, both of which will be central to shaping expectations for the December 10 Bank of Canada meeting. The economy continues to soften under the weight of global trade pressures, tariffs, and a weakening job market. Inflation has eased, with headline CPI expected to remain slightly above 2% year-over-year, although core inflation is still hovering near 3%. This makes it difficult for the Bank to justify an additional cut without stronger evidence of cooling. Retail sales, which showed a solid increase in August before slipping in September’s advance estimate, will provide further clarity. For now, the odds of either a hold or a cut remain evenly balanced.

Eurozone

ECB officials continue to stress that current interest rates are appropriate, and upcoming data is unlikely to shift that stance. Markets will focus on the flash HCOB PMI reports, where manufacturing activity is expected to inch slightly above the 50 expansion threshold, while services remain comfortably in growth territory. This combination supports the ECB’s narrative of an economy that is not strong, but still resilient.

Inflation should confirm the preliminary reading of 2.1% year-over-year, a figure that aligns closely with the ECB’s target. However, core inflation, and especially services inflation, remains elevated, reinforcing the view that rate cuts are not on the agenda anytime soon. Additional data from Germany, the Eurozone confidence surveys, and French business indicators will offer more insight but are unlikely to alter the overall picture.

United Kingdom

In the UK, fiscal concerns have re-emerged following reports that Chancellor Reeves abandoned plans to raise income taxes. The decision came after more optimistic debt projections from the OBR, but it has reignited concerns about how the government intends to address a remaining fiscal gap estimated at around GBP 20 billion. Markets reacted nervously, particularly on fears that this uncertainty could limit the Bank of England’s ability to cut rates in December.

The November 26 budget will overshadow most other developments this week. Even so, the BoE will be watching the inflation report closely. CPI is expected to ease to 3.6% year-over-year, while core inflation should also decline slightly. Despite remaining above target, the downward trend gives the central bank some room to consider a cut, assuming the budget does not disrupt confidence further.

PMI figures are expected to soften, with services activity dipping but still above 50, while manufacturing may slide deeper into contraction. Retail sales will likely reflect the same cautious spending behaviour seen in recent months, with households saving more and spending less.

Japan

Japan enters an important week with a flood of major economic reports, including GDP, CPI, trade data, production numbers, and machinery orders, arriving ahead of the December 18-19 BoJ meeting. While inflation is expected to remain near the 3% mark, GDP likely contracted sharply by around -2.0%, which supports the argument for keeping policy unchanged. Ongoing uncertainty around fiscal plans under the new Takaichi government adds another reason for a cautious approach. Apart from a few hawkish voices, most policymakers seem in no rush to tighten policy again in the near term.

China

China’s loan prime rate announcements are also due, although no changes are expected. The PBoC has resisted easing, keeping the one-year and five-year LPRs at 3.00% and 3.50% respectively, levels last trimmed in May.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 18th November 2025.

Stocks Slide: Nvidia, NFP and Asia Shake Up the Week.


Trading Leveraged products is Risky

Global financial markets started the week under heavy pressure, with a sharp sell-off in US equities rippling across Asia-Pacific trading. Concerns over overextended tech valuations, a deeper risk-off shift, and two major US events, Nvidia’s earnings and the long-delayed September US jobs report, drove volatility higher across asset classes.

This broad downturn exposed deeper structural anxieties around inflation, interest rates, and the sustainability of the AI-driven rally that has powered equity markets throughout 2024 and 2025.

Wall Street Falls as Volatility Surges and Fear Index Hits Extreme Levels


US markets started the week on the back foot after an aggressive wave of selling hit major indices on Monday.

* Dow Jones Industrial Average sank 557 points (-1.18%)
* S&P 500 shed 0.92%
* Nasdaq Composite fell 0.84%

The downturn was accompanied by a spike in volatility indicators:

* The VIX surged about 13%
* CNN’s Fear & Greed Index plunged into ‘extreme fear’ territory,the lowest reading since early April

Investors were particularly cautious given concerns that the Federal Reserve may alter its rate-cut expectations in light of stubborn inflation and stretched tech valuations.

US futures extended losses early Tuesday:

* S&P 500 futures: -0.6%
* Dow futures: -0.4%

This indicates risk aversion extending into the next trading session.

Nvidia Earnings Take Centre Stage as AI Trade Faces its Biggest Test

Markets worldwide are focused on Nvidia, which is set to release its earnings on Wednesday. As the flagship of global AI optimism,and a major contributor to the S&P 500’s gains ,Nvidia’s performance could set the tone not only for US equities but for global semiconductor markets.

* Analysts expect quarterly revenue around $54 billion to $55 billion for Q3 FY2026.
* One commentary described the report as a ‘crucial test for the entire AI market.’
* Some analysts warn the stock could swing 6-8% upon release.



Nvidia shares were down about 1.8% Monday, though still up nearly 40% year-to-date. Other AI-linked stocks suffered steeper declines, including Super Micro Computer (-6.4%).

Investors are increasingly questioning whether the AI trade has legs, particularly as the tech-heavy Nasdaq is already down about 5.5% since its late-October record high.

Bitcoin Drops Below $90,000, Extending Six-Week Sell-off

Crypto markets mirrored the negative tone:

* Bitcoin slid below $90,000 for the first time in seven months, losing more than 28% in just six weeks.
* Crypto-exposed equities also fell sharply: Coinbase (COIN) -7.1%, Robinhood Markets (HOOD) -5.3%.

The decline reflects not only speculative unwinding, but a broader reduction in risk appetite across asset classes.



Asian Markets Tumble as US Tech Weakness Spreads Globally

The US tech-led sell-off spilled into Asian trading on Tuesday. Benchmarks in Japan, South Korea, and Taiwan, all heavyweights in global semiconductor supply chains, suffered sharp declines as investors reassessed chip demand and valuations.

Japan: Nikkei Declines as Bond Yields Spike

* Nikkei 225 fell ~3% by midday
* Tokyo Electron -5.4%
* Advantest -4.6%

A key driver was the surge in long-term Japanese government bond yields: 30-year JGB yields hit ~3.31%, the highest in years.
The yen hovered above ¥155 per dollar, near its weakest level since February, and reached its lowest level against the euro since 1999.

Asia: Chip Giants Lead Declines

* Kospi dropped ~3.1%
* Samsung Electronics -2.9%
* SK Hynix -5.7%
South Korea’s economy, heavily reliant on semiconductors, was especially vulnerable to global tech turmoil.
* Taiex fell ~2.3%
* TSMC -2.4%: The global chip demand fears weighed heavily in Taiwan’s market.
* Hang Seng Index: -1.5%
* Shanghai Composite: -0.6%
* ASX 200 (Australia): -2.1%

These markets, though less tech-concentrated, were not immune to the global sell-off.

Fed Expectations Shift as Traders Reassess December Rate-Cut Odds

One of the dominant narratives this week is the reshaping of interest-rate expectations.

Just a month ago, markets priced in about a 94% probability of a December rate cut from the Fed. Today, that probability has sharply fallen to around 45%.
Traders and investors are reacting to:

* Persistent inflation above the Fed’s ~2% target
* The US government shutdown, which delayed key economic releases
* Mixed labour-market signals
* Uncertainty around rate-cut timing

Fed officials have recently suggested that more clarity is needed before proceeding with another cut,in light of weaker data and the end of the shutdown.

Thursday’s US Jobs Report Could Shift the Entire Market Narrative

The delayed September Non-Farm Payrolls (NFP) report, now due on Thursday, carries outsized importance this week.
Key points:

* A strong number would reduce the chance of a December rate cut.
* A weak number would raise recession concerns and could push the Fed to accelerate easing.
* A mixed print may leave markets in limbo.

Oil, Forex & Global Macro Moves Reflect Risk-Off Mood

Commodity and currency markets also shifted into defensive mode:

* WTI Crude: ~$59.49 (-$0.42)
* Brent Crude: ~$63.77 (-$0.43)

FX and bond markets responded to the risk-off environment:

* USDJPY ~ 155.08
* EURUSD ~ 1.1600

With rising yields in Japan and USD weakness, global macro flows tilted toward safe-haven dynamics.



Alphabet Buckets the Trend as Berkshire Takes Major Stake

One rare bright spot in Monday’s US session was Alphabet Inc. (GOOGL), which gained ~3.1% after Berkshire Hathaway disclosed a new ~$4.34 billion stake.

Warren Buffett’s investment is seen as a value-oriented vote of confidence, providing a counterbalance to the broader technology sell-off.

What Traders Should Watch Next

Markets enter mid-week with a high-stakes setup:

Wednesday:

* Nvidia earnings: the major test of the AI trade
* Semiconductor sector reaction and global chip supply chain sentiment

Thursday:

* US September Non-Farm Payrolls: pivotal for Fed policy and the dollar
* Potential strong volatility in indices, FX, and crypto

Friday and beyond (Aftermath):

* Market digestion of earnings and jobs data
* Fed commentary and updated rate expectations
* Continued focus on Asian bond yields and semiconductor earnings

With valuations stretched, volatility elevated, and major catalysts lined up, this week may prove decisive for the direction of global markets.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 19th November 2025.

Wall Street Extends Declines as AI Jitters Intensify Ahead of Nvidia Earnings.


Trading Leveraged products is Risky

Global markets shifted decisively into risk-off mode this week as Wall Street extended its decline for a fourth consecutive session. The sell-off reflects growing concerns over AI-driven valuations, a softening macro backdrop, and uncertainty ahead of Nvidia’s highly anticipated earnings report.

Investor sentiment has deteriorated sharply since early November, with many questioning whether the extraordinary run in AI-linked equities can be sustained. The S&P 500 is now experiencing its worst losing streak since the early stages of this year’s AI bubble fears, as traders reposition cautiously ahead of Wednesday’s key event: Nvidia’s Q3 earnings.

Wall Street Ends Lower but Off Intra-Day Lows

All three major US indices finished Tuesday in the red, though losses were trimmed in afternoon trading:

* NASDAQ: –1.21%
* S&P 500: –0.82%
* Dow Jones: –1.07%

The worst performance came from consumer discretionary and information technology, two sectors particularly sensitive to shifts in growth expectations. Adding pressure, Home Depot shares sank more than 6% after disappointing results, amplifying concerns over US consumer resilience heading into the holiday season.

Bonds and Commodities React to Risk Aversion

The drop in equities triggered a flight to safety, with Treasuries drawing renewed demand:

* 2-yr Treasury yield: 3.575% (–3.6 bps)
* 10-yr Treasury yield: 4.117% (–2.1 bps)

Safe-haven flows also pushed gold up 0.62% to $4,070 per ounce, while oil rebounded 1.35% to $60.70 after briefly touching a multi-month low at $59.31.

Dovish Waller Comments Revive Fed Rate Cut Bets

Market expectations for a December Fed rate cut strengthened meaningfully following comments by Federal Reserve Governor Christopher Waller, who noted he ‘cannot envisage not cutting by 25 bps’ in December.

Rate futures reacted immediately:

* December implied cut: –12.6 bps (up from –9.8 bps before Waller’s remarks)
* January implied cut: –23.1 bps

Soft data from US jobless claims and the ADP employment report further bolstered rate-cut optimism, especially as signs of cooling in the labour market begin to align with the Fed’s objectives. Still, traders remain cautious, December’s outcome is far from guaranteed, and the market currently views the decision as a close call.

Nvidia Earnings: A Pivot Point for the AI Trade

The spotlight now shifts to Nvidia (NVDA), whose earnings report on Wednesday could set the tone for the entire AI complex. Nvidia’s results are often viewed as a barometer for AI demand, given the company’s dominant role in powering cloud-based artificial intelligence workloads.

Market Nervousness Is Rising

Nvidia shares closed 2.81% lower at $181.36 on Tuesday, extending a decline of roughly 12% from its record highs. According to analytics firm ORATS, this earnings event could trigger a market-cap swing of up to $320 billion, the largest potential post-earnings move in the company’s history.

Investors are torn between two competing narratives:

* A beat-and-raise scenario may reinforce concerns about over-investment and inflated expectations.
* A modest beat might suggest AI demand is stabilising sooner than hoped, raising fears of slowing growth.

Recent sales of Nvidia shares by major players, including Peter Thiel’s hedge fund and SoftBank, have also fuelled caution.

What Wall Street Expects

Q3 consensus forecasts (Bloomberg):

* EPS: $1.26 (vs. $0.81 a year ago)
* Revenue: $55.2B (vs. $35.1B a year ago)
* Data Center: $49.3B
* Gaming: $4.4B
* Gross Margin: 73.62% (vs. 75% last year)

Nvidia continues to model zero revenue from China, with no progress reported on US-China AI chip export negotiations. Given the company’s influence, any surprise, positive or negative, could ripple across semiconductor stocks, cloud providers, and the broader market.

Bitcoin Struggles as ‘Digital Gold’ Narrative Weakens

Bitcoin’s performance continues to disappoint, with the world’s largest cryptocurrency falling nearly 30% from its 2025 peak. The decline has left Bitcoin lagging behind gold, long-term Treasuries, emerging market equities, and even traditionally low-growth sectors like utilities.

On Tuesday, BTC briefly dipped below $90,000, near the average entry price of ETF inflows since launch, before recovering to trade around $93,241.

Why BTC Is Underperforming

Analysts point to several contributors:

* Lingering fallout from October’s crash, which liquidated ~$19B in leveraged positions.
* Weak risk sentiment stemming from sluggish Asian economic data and tech valuation corrections.
* Rising correlations between crypto and high-beta tech stocks ahead of Nvidia's results.
* Diminished confidence in Bitcoin as a hedge, diversifier, or store of value during recent market stress.

Options markets now imply less than a 5% chance of Bitcoin revisiting its $126,000 peak by year-end, with strong demand for downside protection between $85K–$80K. Despite near-term pressure, Bitcoin remains well above pre-election levels, and historically, sharp drawdowns have often set the stage for sizeable rebounds.

Conclusion

Markets enter the midweek session on edge as investors brace for one of the most important earnings announcements of the quarter. With the Fed’s December meeting, AI valuation concerns, and crypto volatility all converging, sentiment may remain fragile until Nvidia provides clarity on the trajectory of AI-related demand.

The next 48 hours are poised to play a crucial role in shaping market direction into year-end, and potentially redefining the narrative around the AI boom, risk appetite, and the role of digital assets in diversified portfolios.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date: 20th November 2025.

Nvidia’s Blowout Results Lift Global Stocks Ahead of Key NFP Jobs Data.


Trading Leveraged products is Risky

Asian Markets Rally After Strong Nvidia Earnings Boost Global Risk Sentiment

Asian stock markets surged on Thursday after Nvidia reported quarterly earnings far exceeding expectations, easing fears that the AI-driven market rally may have overheated. The tech giant’s exceptional results helped lift global sentiment, sending US futures, Asian indices, and major tech stocks sharply higher.

Nvidia Earnings Spark Global Market Optimism

Nvidia’s announcement of $57 billion in quarterly revenue, well above analyst forecasts, immediately reassured investors that demand for AI-related technologies remains resilient. The company’s earnings report helped push futures linked to the S&P 500 up 1.3% and Dow Jones futures up 0.7%, setting the tone for global trading.

Nvidia, which recently became the largest company on Wall Street after briefly crossing a $5 trillion valuation, rose 2.8% during Wednesday’s session and surged more than 5% in after-hours trading. With its growing weight in the index, the company’s results continue to play a significant role in shaping broader market direction.

Asian Markets Surge on Tech Strength

Japan’s Nikkei 225 soared as much as 4.2% in early trading before settling to a 2.7% gain at 49,854.20 by the afternoon. Investors reacted positively to Nvidia’s performance, which lifted Asian semiconductor and technology stocks across the region.

South Korea’s Kospi advanced 2.5% to 4,026.12, supported by renewed strength in the chip sector. Samsung Electronics climbed 5%, while SK Hynix added 2.2%. Optimism was further boosted by reports that the United States may delay planned semiconductor tariffs, providing additional relief to the region’s exporters.

Not all markets shared in the rally. Chinese equities slipped, with the Hang Seng Index down 0.2% and the Shanghai Composite down 0.4%, as concerns resurfaced about the government’s next steps to stabilise the struggling property market. The People’s Bank of China left its one-year and five-year loan prime rates unchanged, adding to cautious sentiment.

Elsewhere, Taiwan’s Taiex gained 3.2%, India’s Sensex rose 0.4%, and Australia’s S&P/ASX 200 climbed 1.2% on strong tech-sector performance.

Wall Street Stabilises Ahead of Key US Data

US markets experienced another volatile session on Wednesday before the S&P 500 closed 0.4% higher, breaking its longest losing streak in nearly three months. The Dow Jones Industrial Average added 0.1%, and the Nasdaq Composite rose 0.6%.

Investors remained focused on Nvidia throughout the day, using the company’s results as a barometer for the broader AI investment cycle. Nvidia’s ability to consistently deliver strong profits is central to calming fears that AI valuations have become excessive. The stock had recently pulled back about 10% from its highs, making the latest earnings report a crucial moment for the market.

Investors Await US Jobs Report and Fed Direction

Market attention now shifts to the upcoming US September jobs report, a key indicator for assessing whether the Federal Reserve may continue cutting interest rates. The slowing labour market led the Fed to cut rates twice this year, and investors had been pricing in the possibility of another reduction in December.

However, recent comments from Fed officials suggested that policymakers may take a more cautious approach, especially as inflation remains above the 2% target. A potential pause in rate cuts has added fresh uncertainty at a time when equities remain sensitive to monetary policy signals.

Oil Prices Steady as Russia Sanctions Take Effect

Oil prices stabilised after a sharp decline on Wednesday as traders assessed the impact of upcoming US sanctions on Rosneft and Lukoil, which take effect on Friday. Brent crude traded near $64 per barrel, while West Texas Intermediate hovered below $60. The sanctions have already begun redirecting global oil flows, particularly affecting shipments to India,and have prompted Lukoil to seek buyers for several international assets. At the same time, the European Union is exploring additional measures to tighten pressure on Moscow.

Currency Market Movements Reflect Broader Policy Expectations

The US dollar strengthened to 157.58 yen, reflecting expectations that Japan may delay fiscal tightening as Prime Minister Sanae Takaichi increases spending to support the economy. The euro slipped slightly to $1.1523 as broader market uncertainty persisted.



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.