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NAGA Weekly Recap October 27 - 31, 2025

Markets stay steady as Big Tech earnings drive equities; gold dips and oil holds amid a strong dollar.

Markets stayed balanced this week as the S&P 500 hit new highs and Europe’s FTSE 100 held firm. Gold slipped below $4,000/oz and oil cooled to the mid-$60s, while a strong dollar kept pressure on major currencies. Big Tech earnings dominated the tape, setting the tone for global equities as traders looked ahead to next week’s inflation prints and policy signals. With steady yields and cautious positioning, risk appetite feels measured—not manic heading into November.

Markets Earnings Take the Lead as Gold and Oil Diverge Markets shifted into adjustment mode this week, with asset classes starting to break formation. Gold slipped lower while oil found its footing, and FX and bonds stayed calm. The euro softened on growth worries, and JPY stayed heavy, keeping USD/JPY above 150. Traders kept positioning balanced but alert, waiting on the next macro spark to set direction. Stocks Big Tech Sets the Tone for Global Markets Equities held steady as earnings from Alphabet, Amazon, Meta, Microsoft, and Apple steered sentiment worldwide. The S&P 500 hovered near record highs, and European markets posted modest gains. Sector rotation stayed in play, with defensives and cyclicals keeping balance. Despite heavy news flow, markets stayed calm and collected — no panic, no euphoria, just measured positioning. Commodities Dollar Strength Weighs on Metals as Energy Holds Ground Gold slipped below $4,000/oz, extending its pullback as the dollar stayed firm and yields ticked higher. Technical sentiment remains cautious after failing to clear the $4,050 resistance. Oil held steady, with Brent under $65 and WTI near $60, as traders reassessed demand after recent gains. Silver tracked gold lower, while base metals searched for direction. Forex Strong Dollar Holds the Upper Hand The U.S. dollar stayed firm across majors, supported by steady yields and resilient data. The euro eased to around $1.16 on uneven regional growth, while the yen remained under pressure, keeping USD/JPY above 150 as policy divergence persisted. Commodity FX traded mixed, following oil’s pullback and a steady risk backdrop.

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Publication date:

2025-11-03 10:42:04 (GMT)

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