# Daily Market Brief: What to Expect Today
Good morning traders. Here is a look at what to expect in the stock and forex markets for Monday, November 17, 2025.
## Stock Market Outlook
The US stock market is poised for a potentially volatile week as investors await key technology earnings, the first batch of economic data since the government shutdown, and minutes from the Federal Reserve’s October meeting. Last week, major indices closed lower, with the S&P 500 down 1.66%, the Nasdaq falling 2.29%, and the Dow Jones Industrial Average declining by 1.65% [1].
This week’s main event will be Nvidia’s earnings report on Wednesday. The chipmaker’s performance is seen as a crucial indicator for the broader AI and tech sectors. Analysts are expecting revenue of $54.9 billion, a 56.4% year-over-year increase, but the market is pricing in significant volatility around the announcement [1]. A strong report could reignite the AI-driven bull run, while a miss could trigger a new wave of selling.
In addition to Nvidia, several other major companies are reporting earnings this week, including Home Depot, Target, Walmart, Baidu, and Lowe’s. These reports will provide further insight into the health of the consumer and the broader economy.
Investors will also be closely watching the first release of government economic data since the lengthy shutdown. The Empire State Manufacturing Index, industrial production figures, housing starts, and jobless claims are all due this week. This data will be critical for assessing the true state of the US economy and could influence the Federal Reserve’s upcoming policy decisions [1].
The Federal Reserve will release the minutes from its October meeting on Wednesday. The Fed cut interest rates by 25 basis points in October and halted its balance sheet runoff program. The minutes will provide more detail on the policymakers’ thinking and could offer clues about the likelihood of a December rate cut, which markets are now pricing at less than a 50% probability [1].
| Key Economic Events This Week | Release Date |
| :— | :— |
| Empire State Manufacturing Index | This Week |
| Industrial Production | This Week |
| Housing Starts | This Week |
| Jobless Claims | This Week |
| Federal Reserve October Meeting Minutes | Wednesday |
## Forex Market Outlook
The forex market is also facing a period of uncertainty in the wake of the US government shutdown. The lack of economic data has made it difficult for traders to gauge the strength of the US economy, leading to a data vacuum for central banks and traders alike [2].
The US dollar has remained relatively steady as investors await the release of the delayed economic data. The euro has resumed its upward trend against the dollar, with EUR/USD trading above 1.1600. A key bullish trend line is forming with support at 1.1600, suggesting continued strength for the single currency [3].
The British pound is also gathering bullish momentum, with GBP/USD trading at 1.3171. The key resistance level to watch is 1.3185. The pound has been supported by reports that Chancellor Rachel Reeves plans to scrap a proposed income tax rise [4].
| Currency Pair | Current Level (Nov 17, 2025) |
| :— | :— |
| EUR/USD | 1.1621 |
| USD/JPY | 154.55 |
| GBP/USD | 1.3171 |
| USD/CHF | 0.7941 |
| USD/CAD | 1.4022 |
In the cryptocurrency market, Bitcoin has experienced a significant downturn, falling 25% from its recent peak to below $95,000. The cryptocurrency is now in a technical bear market, and ETF outflows have exceeded $2.3 billion in November. The reopening of the US government could, however, bring some positive news for the crypto market, as it may lead to progress on the Clarity Act, which aims to establish a regulatory framework for the industry [5].
## References
[1] [US stock market outlook for November 17-21: All eyes on tech earnings, Nvidia and economic data](https://m.economictimes.com/news/international/us/us-stock-market-outlook-for-november-17-21-all-eyes-on-tech-earnings-nvidia-and-economic-data/articleshow/125371479.cms)
[2] [FX Fundies Cheat Sheet for November 17 – 21, 2025](https://www.babypips.com/analysis/forex-weekly-outlook-2025-11-17)
[3] [EUR/USD resumes northbound move, hinting at continued strength](https://www.fxstreet.com/analysis/eur-usd-resumes-northbound-move-hinting-at-continued-strength-202511170441)
[4] [Pound to Dollar Price Forecast: GBP Steady as US Data Flood Looms](https://uk.investing.com/news/forex-news/pound-to-dollar-price-forecast-gbp-steady-as-us-data-flood-looms-4374005)
[5] [Market navigator: week of 17 November 2025](https://www.ig.com/en/news-and-trade-ideas/weekly-market-navigator–17-nov-2025-251117)
