Weekly Market Outlook: What Traders Are Watching This Week 3 – 7 November 2025

FX Trust Score Weekly Market Outlook

For the week ahead: 3 – 7 November 2025

Each week, FX Trust Score publishes a Weekly Market Outlook to help traders stay informed and prepared for the trading week ahead. The report brings together key developments across forex, equities, commodities and crypto markets, as well as insights into central bank activity and broker updates. It is a trusted source, designed for clarity and relevance and provides traders with a concise overview of what is driving global markets. Here’s what traders are watching in the days ahead.

Last Week in Review

Last week, global markets kick off with better-than-expected earnings and growing hopes of a retreat in interest-rate risks. The U.S dollar was stable whilst gold edged higher on safe-haven demand. Equity markets, led by technology and consumer shares, recovered after a tentative start and oil prices gained support from supply-constrained signals even as demand concerns lingered.
Why it matters: By closing the week on a stronger footing, markets have positioned themselves for further momentum – but also for potential surprises when key data and commentary arrive.

The Week’s Key Events

United States: U.S inflation data (CPI), employment statistics, PMI releases and major tech earnings will drive sentiment.
Eurozone: Flash inflation numbers and business-confidence readings will set the tone for the euro and bond markets.
United Kingdom: U.K GDP and inflation data, along with likelihoods of further Bank of England comments, may move sterling.
Japan: Industrial-production statistics and any updates from the Bank of Japan will guide the yen.
China: PMI data and trade figures will impact commodity currencies and industrial-metal demand.
Australia/Canada: Retail and inflation prints in both economies will keep commodity input currencies (AUD, CAD) in view.
Why it matters: This week delivers a heavy schedule of data and results. Markets are poised to react decisively, early positioning and risk-management are key.

For exact releases and impact ratings, see our Economic Calendar

Forex Pair Focus

EUR/USD

The currency pair is hovering near 1.13 as traders await Eurozone inflation and U.S data. The dollar’s recent strength has kept EUR/USD subdued and any upside may depend on surprising economic results.
Why it matters: A move above 1.1350 or below 1.1250 could set the tone for much of this week’s currency trend.

GBP/USD

Sterling continues to struggle near 1.27 as domestic growth concerns weigh and the market waits for clearer guidance from the Bank of England.
Why it matters: With limited positioning, any signs of policy revision or inflation surprises could move the pound sharply.

USD/JPY

The yen remains under pressure with USD/JPY around 149.70, but upcoming inflation data and BoJ commentary are likely to drive volatility.
Why it matters: A rapid yen move could ripple across global FX desks, influencing pairs such as AUD/JPY and EUR/JPY.

AUD/USD

The Aussie remains sensitive to China data and commodity-price shifts, with the pair lingering near 0.6550. A weak print would test support.
Why it matters: AUD often leads risk-on flows – its direction this week may give early clues on global sentiment.

If you are new to forex trading or would like to understand more about currency pairs, our full guide to Forex Trading for Beginners will be helpful in providing some important, foundational knowledge.

Commodities & Metals

Gold (XAU/USD)

Gold held near $4,200 / oz as investors balance safe-haven demand with a firm dollar and the prospect of later-than-expected rate cuts.
Why it matters: A break below support near $4,150 could prompt a deeper correction, whilst a move above $4,250 may fuel new momentum.

Oil (WTI/Brent)

Crude oil remains in a narrow range near $75 / $80 per barrel amid mixed signals on supply constraints and slowing demand growth.
Why it matters: Given oil’s sensitivity to growth data and geopolitical risks, it could rightly grab attention if either shifts significantly.

Base Metals & Agriculture

Copper and aluminium held steady amid subdued manufacturing activity, while commodity-linked currencies such as CAD and AUD continue to watch for data triggers.
Why it matters: These segments often move quietly in the background but can quickly surprise when sentiment turns.

Equities & Big Tech Watchlist

Tesla (TSLA)

Tesla is in focus as traders consider whether recent delivery misses were a blip or the start of a trend. Any update this week could move the stock and ripple across growth names.
Why it matters: Momentum in Tesla often signals how risk appetite is trending.

Nvidia (NVDA)

Nvidia remains a pillar in the AI-tech story. Traders will closely watch guidance and chip-demand commentary as the company anchors sentiment in the sector.
Why it matters: Strong leadership from Nvidia tends to lift other indexes and risk assets.

Apple (AAPL) & Microsoft (MSFT)

Both companies are expected to report soon. The focus is on growth in cloud services (Microsoft) and product demand (Apple).
Why it matters: Their results are key mood-setters for the rest of the market.

Broker & Regulation Watch

Brokerage firms and platforms should note:
Platform licences, custody rules and broker marketing standards remain under review in key markets such as Australia, the UK and Singapore.
Why it matters: Trades executed through a regulated broker may offer more protection; opting for less-regulated services increases risk.

Several jurisdictions are moving to sharpen oversight of retail-leveraged products and crypto-asset services.

Trader’s Takeaway

It’s a week where watching the data count matters more than chasing headlines. A strong earnings beat or inflation surprise could extend risk-on moves and weaken the dollar. On the other hand, disappointing results or hawkish commentary could trigger sharp reversals. With both currencies and commodities in the mix, traders should stay nimble and focused on where momentum leads next.

We publish the latest news and FX Trust Score Weekly Market Outlooks in our dedicated Market News section.