A fresh look at the major economic events, currency moves and market trends likely to guide traders through the week ahead, from forex and tech stocks to gold and oil.
FX Trust Score Weekly Market Outlook – FX, Tech Stocks & Commodities Under the Spotlight
Week Ahead: 24 – 28 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. 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
Markets ended last week in a more optimistic mood, helped by softer US inflation readings and a steadier tone across global equities. The dollar eased from recent highs, giving several major currency pairs breathing room after a choppy few sessions. Tech stocks regained momentum, with Nvidia leading the move after another strong set of results boosted confidence in the wider AI sector.
Commodities enjoyed a mixed finish. Gold held firm, supported by modest risk aversion and ongoing demand for safe-haven assets, while oil struggled to find direction as traders balanced supply concerns with signs of slower global demand. Overall, the tone heading into the new week is cautiously constructive, though the data calendar is busy enough to spark movement across major asset classes.
Forex Focus: Dollar Awaits Key US Data
The US dollar begins the week in a holding pattern as traders look ahead to several important US releases, including retail sales, housing numbers and updated commentary from Federal Reserve officials. Any indication that the economy is losing pace could keep the dollar on the back foot, while stronger figures may revive expectations of tighter policy for longer.
The euro and the pound are also in focus, with European business sentiment data due and the Bank of England expected to speak on the outlook for inflation and growth. The yen remains sensitive to rate-differential moves, with traders still watching for signs of discomfort from Japanese policymakers as USDJPY sits near elevated levels.
Equities: Tech Names Remain in the Spotlight
US equities start the week with a more upbeat tone, encouraged by last week’s bounce in major technology names. Nvidia’s strong results have set the tone for the sector, pushing attention toward other large-cap tech stocks as investors assess whether the rally can broaden out.
In Europe and Asia, market sentiment remains steady but cautious. Chinese data continues to guide regional indices, while Japanese stocks are influenced by both yen stability and global tech momentum.
Commodities: Gold Steady, Oil Searches for Direction
Gold continues to hold its ground near the top of its recent range, supported by softer yields and a steady flow of safe-haven interest. The metal’s performance this week may depend on how US data shapes expectations for interest rates.
Oil markets are more uncertain, with traders weighing mixed signals on supply against signs of slowing demand from major economies. Energy market volatility may pick up if new inventory data surprises to either side.
Economic Calendar: Key Events to Watch
A busy calendar from Tuesday onwards provides several potential catalysts for volatility. Highlights on the FX Trust Score Economic Calendar include:
• US retail sales and housing data
• UK inflation numbers
• Eurozone business sentiment surveys
• Japan CPI later in the week
• US PMI updates which often move the dollar, equities and gold
These releases tend to set the tone for broader risk appetite, especially during quieter earnings periods.
Trader Takeaway
With several important economic releases ahead, the week is likely to offer pockets of volatility across major asset classes. Traders may want to stay alert around data that directly influences rate expectations, particularly in the US and UK. Tech stocks remain a key driver of risk sentiment, while currency markets may shift quickly if incoming numbers point to a change in the global growth picture.
We publish the latest news and FX Trust Score Weekly Market Outlooks in our dedicated Market News section.
