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A Reuters/Ipsos poll shows:

• Trump approval rating falls 38% which is the lowest since returning to the White House
• 26% of Americans approve of Trump’s handling of cost-of-living
• 70% say that government is hiding Epstein client info.

Pres. Trump is meeting with the Saudi Crown Prince and an ABC reporter first asked about the Trump families ties to Saudi Arabia, and then the Crown Prince’s involvement in the murder of the American journalist Jamal Khashoggi and followed that up with an Epstein file question.

The exchange was not pretty.

Meanwhile, the House overwhelmingly voted to release more Epstein investigation files, and send that bill to the Senate.

This article was written by Greg Michalowski at investinglive.com.

The USDCAD has continued it’s move to the downside (see earlier post here), and in the process moved below the 1.4000 level, the 61.8% retracement level I.39837, and into a swing area between 1.3968 and 1.3975 where buyers have now stepped in. Is the low in?

In the video above I take a look at the technicals driving this currency pair and what would now turned the bias back around?

This article was written by Greg Michalowski at investinglive.com.

Maybe the market was more anxious about an election in Canada than we thought?

It’s tough to pin down why the loonie is such a standout performer today. It’s easily the strongest G10 performer today up 0.6%, doubling the Australian dollar’s gain.

It’s not a huge move but it drops the US dollar to the lowest level against the loonie since October 30. That’s the day after the Federal Reserve and Bank of Canada both cut rates. Where they differed is that the BOC shifted strongly to the sidelines, a move underscored by yesterday’s CPI.

As for news flow today, it’s not great for the loonie. Risk assets are down and the US dollar is higher against the euro and yen. Fed Governor Waller was very dovish late yesterday and he’s a good bet to be Fed chair so that may be weighing on the dollar. For Canada, today’s housing starts numbers were poor.

A tailwind for the loonie is the gain in gold (+0.6%) and oil (+1.1%) but those are relatively small moves. On net, this looks like a flow driven move but it could also be a sign of improving risk appetite.

The chart looks comfortably in the late-Oct/early-Nov range but still with a bias higher.

This article was written by Adam Button at investinglive.com.

This is good news on the trade front, but Trump also said he would tell Bessent that he wants China to speed up the pace of farm buying. So it’s not really clear what’s happening but Trump sounds happy so that’s good news.

US stocks are well off the lows, with the S&P 500 down 0.3%.

This article was written by Adam Button at investinglive.com.

• Prior was -1.3%
• Durable goods orders unrevised at +2.9%

Note that this is data for August so it’s ancient history. It will take awhile to catch up because of the US government shutdown.

This article was written by Adam Button at investinglive.com.

• Prior was 37
• Current single family home sales vs 38 prior
• Prospective buyers vs 25 prior

The housing market is struggling with +6% US 30-year fixed rates. January lumber prices cratered recently.

This article was written by Adam Button at investinglive.com.

• Prior week -11,250
• Current week.-2500

The initial report weekly showed a healthy +14,250 jobs gain. The report will be published weekly except during the week when the monthly ADP numbers are released at the beginning of each calendar month.

This article was written by Greg Michalowski at investinglive.com.

• Prior was 279.2K

This is a sharp slowdown from September levels.

This article was written by Adam Button at investinglive.com.

• Yen has room to drop further but intervention risks cap USD/JPY upside – Goldman Sachs
• US initial claims 232K and continuing claims 1957K in the week ending October 18
• European indices see red at the open as risk stays pressured
• BofA FMS: AI bubble biggest tail risk for 45% of respondents
• Gold clips the $4,000 mark then quickly bounces
• Takaichi’s remarks on Taiwan are in line with our long standing views, says Kihara
• BOJ governor Ueda says no request from Takaichi on policy
• BOJ governor Ueda says talked about economy, monetary policy with Takaichi
• FX option expiries for 18 November 10am New York cut
• Gold stumbles further towards $4,000 mark on the week
• Risk stays under pressure as we look towards European trading later
• Cloudflare shares drop more than 3% in pre-market due to global outage

It’s been a pretty boring session in terms of data releases and general newsflow. The only notable news was the release of the US jobless claims data in the week ending October 18. That’s of course old news, but it showed that the conditions didn’t change much with the low firing-low hiring environment. On Thursday we should get the most recent data.

In the markets, we are basically just ranging across the board, although the risk sentiment remains cautious with US equity futures pointing to a negative open at the moment. The key risk events this week include Nvidia earnings tomorrow, and the September NFP and weekly jobless claims on Thursday.

In the American session, the main highlight is
the weekly US ADP jobs data. Last week, we got a soft number at -11,250
in the week ending October 25. That moved the market a bit, especially
in FX where the US dollar weakened across the board but eventually
recovered all the losses.

This data is
released with a two-week lag, so it’s still covers October. The market
might care more about the last two weekly ADP data in the month as they
start to cover November too. Not sure, but it makes sense to me.

Other
than that, we have the US NHAB Housing Market Index which hasn’t been a
market-moving report for a very long time as the market is focused on
jobs and the Fed rate cuts right now.

This article was written by Giuseppe Dellamotta at investinglive.com.

The post Ex-Dividend 19/11/2025 first appeared on IC Markets | Official Blog.

• Initial claims 232K
• Continuing claims 1957K
• Data here

It looks like the Department of Labor is starting to release the missed weekly claims data. This is of course old news, but it shows that conditions in the labour market haven’t changed much. We should get the most recent data on Thursday.

This article was written by Giuseppe Dellamotta at investinglive.com.

US Stocks Fall Ahead of Data and Nvidia – Dow Down 1.2%

US equities pulled back further in trading yesterday as investors focused on upcoming economic releases and the much-anticipated Nvidia earnings report. The Dow fell 1.18% to 46,590, the S&P 500 declined 0.92% to 6,672, and the Nasdaq lost 0.84% to 22,708. Treasury yields were mostly steady, with the 2-year note rising 0.4 bps to 3.610% and the 10-year falling 1.0 bps to 4.139%. The US dollar strengthened, gaining 0.24% to 99.54. Oil prices eased lower after a key Russian port reopened following Ukrainian strikes. Brent dropped 0.61% to $64.01, and WTI fell 0.58% to $59.74. Gold also retreated, down 0.95% to $4,044.96 amid a firmer dollar and softer expectations for Fed rate cuts.

Yen in Focus for FX Markets

The Yen has declined considerably against both the dollar and on the crosses in recent weeks, and market ‘chatter’ is building up strongly that we could see some intervention from authorities in Tokyo if the move continues. Most experienced traders feel that the move would have to accelerate for the Bank of Japan to come in and hit the market hard, but if this does happen, they would normally expect to see the initial impact knock the major pair for at least 200 pips. Generally, the impact lessens over time as the market becomes adjusted to these sharp revaluations, but that initial move could see thousands of carry trades knocked out in one go. USDJPY has broken through the key 155 level but has not pushed through in spectacular fashion yet, and the next resistance level will be up at the January high just below 159 from a technical perspective. At the moment, traders are happy to remain long and will continue to pick up the carry, but most experienced traders will be ready to hit the sell button on any sharp moves down.

Quiet Calendar Day Ahead – But More Moves Expected

It is a quiet day ahead for traders in terms of scheduled risk events on the macroeconomic calendar; however, the market is still expecting plenty of volatility across the sessions, with geopolitical updates and pending data likely to factor. The Asian session will see a focus on Australian markets, with the RBA’s Monetary Policy Meeting Minutes due out. Given the recent spate of higher-than-expected data, traders will be focusing on the bank’s position, with most leaning towards a more hawkish outlook. There is little on the calendar in both the European and US sessions today; however, several products are sitting near sensitive levels, which could lead to exacerbated moves if they break. In addition to a pending US data flood, which has lifted investor concerns, President Trump has been speaking – last night advising that he would allow US military action in Mexico to combat drugs – and traders are expecting that we will hear more from him in the coming days, which can only add to volatility.

The post General Market Analysis – 18/11/25 first appeared on IC Markets | Official Blog.