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News
Monday, November 10, 2025
What’s happening: The US dollar fell on Friday as investors assessed the latest economic data.
What happened: The extended shutdown of the US federal government weighed on the consumer sentiment index, which dipped to its lowest mark in over three years.
Speculations of the Federal Reserve cutting its benchmark interest rates in December also exerted pressure on the greenback.
Why it matters: The University of Michigan’s consumer sentiment index fell to 50.3 in November, from 53.6 in October. The figure missed market expectations of 53.2 by a wide margin, given the longest US government shutdown on record and continuous price pressures weighing on consumer sentiment.
The measure of current conditions also dipped to a record low, while unemployment concerns rose sharply.
With official data being delayed due to the government shutdown, investors assessed private economic reports, which indicated a cooling in hiring and increased layoffs. In the absence of October’s NFP report, private data signalled that the US economy lost jobs in October in the retail and government sectors. AI adoption and cost-cutting measures resulted in an increase in layoffs.
This reinforced prospects of the US Federal Reserve cutting rates by 25 bps in December.
A surprise decline in China’s exports also raised concerns around the global economic outlook.
The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell around 0.2% to 99.56 on Friday. The index recorded a weekly decline of more than 0.2%, after two consecutive weeks of gains.
The EUR/USD forex pair rose around 0.2% to 1.1567 on Friday, ending the week with gains after two straight weeks of losses.
What to watch: Investors will continue monitoring comments from Fed officials to get insights into upcoming policy moves.
Context: Equity markets in Europe closed lower on Friday and recorded weekly losses.
Details: Investors continued monitoring economic data and corporate updates.
Germany’s trade surplus fell to €15.3 billion in September, from €16.9 billion in the previous month. The figure came in below market estimates of €16.8 billion and was the smallest surplus since October 2024.
Germany’s imports rose 3.1% to €115.9 billion, their highest level since May 2023, while exports surged 1.4% to €131.1 billion, hitting a five-month high.
Shares of Rightmove dipped more than 12% after the company projected flat (no growth) in revenues in 2026. IAG’s stock fell more than 10% after the company reported lower net profits.
The STOXX Europe 600 Index fell 0.55% to close at 564.79 on Friday. The index lost 1.2% last week.
The FTSE 100 declined 0.55% to 9,682.57 on Friday, Germany’s DAX 40 dipped 0.69% to 23,569.96 and France’s CAC 40 lost 0.18% to settle at 7,950.18.
What to watch: Investors await the release of economic data on the Eurozone’s ZEW economic sentiment index (1400 UAE Time) and Germany’s ZEW economic sentiment index (1400 UAE Time) on Tuesday.
The ZEW Economic Expectations Index for the Eurozone, which fell to 22.7 points in October from 26.1 in the previous month, is expected to rise to 24 in November. Analysts expect the ZEW Indicator of Economic Sentiment for Germany to rise to 41.5 in November from 39.3 in October.
Other Markets: US trading indices closed mixed on Friday, with the Dow Jones index and S&P 500 up by 0.16% and 0.13%, respectively, and the Nasdaq 100 down by 0.28%.
Russian forces captured the Rybne village in Ukraine’s southeastern Zaporizhia region. The news sent the RUB/USD pair higher in forex trading this morning.
Australia’s private house approvals rose 4.0% to 9,547 units in September, recovering from a 1.0% decline in the previous month, which lent support to the AUD/USD forex pair.
Indonesia’s motorbike sales surged 8.4% year-over-year to 590,362 units in October, following a 7.3% gain in the previous month, which sent the IDR/USD pair higher in forex trading this morning.
China’s consumer prices climbed 0.2% year-over-year in October, following a 0.3% decline in the previous month. This being higher than market estimates of no change exerted pressure on the CNY/USD forex pair.
Japan’s foreign reserves rose by $6.11 billion to $1.35 trillion in October, hitting their highest mark since March 2022. However, the JPY/USD pair edged lower in forex trading this morning.
South Africa’s 182-day T-Bill auction (1330 UAE Time), 273-day T-Bill auction (1330 UAE Time), 364-day T-Bill auction (1330 UAE Time) and 91-day T-Bill auction (1330 UAE Time), Germany’s 3-month Bubill auction (1430 UAE Time) and 9-month Bubill auction (1430 UAE Time), Russia’s foreign exchange reserves (1700 UAE Time), France’s 12-month BTF auction (1800 UAE Time), 3-month BTF auction (1800 UAE Time) and 6-month BTF auction (1800 UAE Time), as well as US 3-month Bill auction (2000 UAE Time), 6-month Bill auction (2030 UAE Time) and 3-year Note auction (2200 UAE Time).
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