Here is what you need to know on Monday, November 11:
- Trade: The market mood is somewhat downbeat amid pessimism related to trade talks. President Donald Trump has yet to make a decision on a rollback of tariffs that China has demanded. He said that reports about progress to reach a deal have been incorrect, especially the level of tariffs removal. The Japanese yen and Gold are trying to recover.
- Fed speak: Eric Rosengren, President of the Federal Reserve branch in Boston, will speak in Oslo later in the day. He kicks off a busy week of speeches from Fed officials, culminating in Chair Jerome Powell's testimony.
- UK elections: Weekend opinion polls have been mixed, but the broad picture is of a solid lead for Prime Minister Boris Johnson's Conservatives. The parties criticized each others' economic promises. See UK GDP Preview: GBP/USD may rise with Boris' hopes if upbeat forecasts are realized
- UK GDP: The UK publishes the first estimate of third-quarter Gross Domestic Product, which is expected to show a return to growth after contracting in the second quarter. Manufacturing Production figures for September are also published.
- Spain: Elections in the fourth-largest economy in the euro-zone have resulted in a hung parliament for the second time this year. Acting Prime Minister Pedro Sanchez has fewer options to cobble a government. The far-right Vox party has enjoyed substantial gains.
- Oil prices are off the highs as Saudi Aramco is set to begin its Initial Public Offering (IPO). Iran announced that it discovered a massive oilfield with reserves of 53 billion barrels, yet sanctions may prevent the field's development.
- Cryptocurrencies are extending their losses seen on Friday, with Bitcoin falling further away from $9,000.
- Bank holidays: France, the US, and Canada are off for Remembrance Day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
Gold trades around $3,050, higher highs ahead
Relentless tariff jitters, coupled with renewed weakness in the US Dollar, have propelled gold prices back toward record territory—hovering just above $3,060 per troy ounce.
EUR/USD sticks to the bid bias, still below 1.0800
The renewed selling pressure in the US Dollar continues to underpin the improvement in the risk complex and motivates EUR/USD to reverse part of the multi-day decline with the next target at 1.0800 the figure.
GBP/USD looks firm near 1.2950, Dollar retreats
The selling pressure on the Greenback motivates GBP/USD to regain upside traction, leave behind Wednesday's hiccup and refocus on the 1.2950 region and beyond on Thursday.
Crypto Morning: BlackRock spends $107 million on Bitcoin, stablecoin launches, Shiba Inu boss still offline
BlackRock, a giant with $11.5 trillion in assets under management, spent $107.9 million to fund its BTC purchase on Wednesday. The move is consistent with demand for BTC among institutional investors.
US: Trump's 'Liberation day' – What to expect?
Trump has so far enacted tariff changes that have lifted the trade-weighted average tariff rate on all US imports by around 5.5-6.0%-points. While re-rerouting of trade will decrease the effectiveness of tariffs over time, the current level is already close to the highest since the second world war.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.