Wednesday Calm on Calendar, Chaos in Crypto Markets

Date: 05 November 2025

Market Overview

On this Wednesday, the macroeconomic calendar is relatively light, yet the markets are experiencing significant activity. Key economic indicators include the ADP Non-Farm Employment Change from the U.S., projected at 32,000, and the ISM Services PMI, expected to be at 50.7. Earlier in the week, the Reserve Bank of Australia (RBA) decided to maintain interest rates at 3.6%, which was anticipated. Additionally, New Zealand's job data indicated a slowdown in employment growth, although the unemployment rate remained stable at 5.3%, reflecting a moderate resilience in the labor market.

Earnings Reports

Tuesday's earnings reports revealed mixed results. AMD exceeded earnings expectations, but its stock fell nearly 4% in pre-market trading on Wednesday. Uber and Shopify also reported disappointing earnings, with Uber's stock down 5% and Shopify facing significant pressure due to a bleak outlook. The earnings calendar for today is lighter, with notable companies such as Toyota, Novo Nordisk, and McDonald's set to report.

Market Movements

As the European trading session begins, stock indices are experiencing slight corrections after a period of upward movement, which is seen as a natural pause following recent gains. In the currency markets, the New Zealand dollar and Swiss franc are showing strength, while the Canadian and Australian dollars are under pressure.

Commodities Market

The commodities market is displaying mixed signals. Oil prices are consolidating in a short-term sideways trend after a modest rebound earlier in the week. In contrast, metals are facing renewed selling pressure, with both gold and silver attempting bullish reversals but ultimately resuming their declines.

Cryptocurrency Market

The most significant development today is in the cryptocurrency market, where both Bitcoin and Ethereum have breached major support levels, leading to sharp declines. Bitcoin has fallen to its lowest point since late June, while Ethereum is trading at its lowest since mid-July, indicating a potential continuation of the bearish trend in the crypto sector.

Conclusion

Overall, while the macroeconomic calendar is light, the markets are experiencing notable volatility, particularly in the cryptocurrency sector, which is drawing attention from traders and analysts alike.