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Forex Signals Nov 19: Earnings Preview – Nvidia, Target, Palo Alto and TJX Companies
A packed earnings calendar from Nvidia, Palo Alto, Target and TJX among others, is poised to influence sentiment across technology and...
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Last updated: Wednesday, November 19, 2025
Quick overview
- A packed earnings calendar from major companies like Nvidia and Target is expected to impact market sentiment in technology and retail sectors.
- US employment data shows a slight improvement, indicating a stabilization in the labor market despite ongoing job losses.
- US equities continue to decline, with major indices experiencing losses as investor confidence wanes ahead of earnings reports.
- Commodity markets are showing strength, with crude oil and gold prices rising amid broader market caution.
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MARKETS TREND
A packed earnings calendar from Nvidia, Palo Alto, Target and TJX among others, is poised to influence sentiment across technology and retail sectors, with several high-profile companies reporting results.
US Employment Data Shows Mild Improvement
The latest ADP weekly employment update offered a small but notable improvement in labor market conditions. The four-week average registered at -2.5K, a better outcome than the previous week’s -11.25K. Although the figure remains negative, it reflects a slowing pace of job losses and hints at a labor market that is stabilizing rather than deteriorating further.
Factory Orders Hold Steady
Later in the session, US factory orders were released in line with expectations at 1.4% growth. Durable goods orders also showed little deviation from the earlier estimate published just before the October 1 government shutdown. Together, the data signals steady industrial momentum, but not enough to suggest a significant rebound in manufacturing activity.
US Equities Extend Losing Streak
Market sentiment remained fragile as the major US indices booked another day in the red. Tuesday’s declines marked the second consecutive session of losses and the fourth drop across the past five trading days, highlighting a clear pullback in investor confidence.
S&P 500 fell by -0.83%, NASDAQ down by -1.21% while Dow Jones Industrial Average ed the declines with -1.07%. The weakness reflects growing caution ahead of major earnings releases and ongoing concerns about economic resilience.
Nvidia Slips Before Earnings
Nvidia shares retreated by -2.81% as traders positioned themselves ahead of the company’s earnings announcement scheduled for tomorrow after the market close. The stock’s pullback underscores heightened uncertainty around AI-related demand and valuations.
Bond Yields Edge Lower
US Treasury yields moved modestly lower across the curve, suggesting a slightly more risk-averse tone in the market. The 2-year yield slipped by 3.1 basis points to 3.578%, while the 10-year yield fell 1.6 basis points to 4.117%. The dip reflects a mild shift toward safety as equities lose traction.
Commodities Firm as Investors Seek Stability
Commodity markets showed renewed strength amid broader market caution. Crude oil rose $0.62, or 1.05%, to $60.54, supported by steady demand and a weaker dollar. Gold prices also rebounded sharply, gaining $23.15 after yesterday’s decline and climbing to $4,067.86 as safe-haven flows increased.
Key Market Events to Watch Wednesday: Earnings Calendar Overview
Wednesday’s earnings lineup brings a mix of tech giants and retail heavyweights, each capable of influencing short-term market direction. Nvidia and Palo Alto dominate the tech narrative with high-beta potential, while TJX and Target offer valuable insight into consumer resilience ahead of the holiday season. Traders should expect heightened volatility across both pre-market and after-hours sessions.
NVIDIA Corporation (NVDA) – Q3 2026 Earnings – AMC
- Timing: After Market Close (AMC)
- Expected EPS: 1.25
Key Focus Points:
- Market awaits updates on AI-related data center revenue, the primary driver of recent volatility.
- Investors will monitor commentary on supply chain conditions and the pace of H100/H200 shipments.
- Nvidia’s results may set the tone for broader semiconductor sentiment heading into year-end.
- Market Sensitivity: Very high — NVDA earnings often trigger broad tech-sector moves.
The TJX Companies (TJX) – Q3 2026 Earnings – BMO
- Timing: Before Market Open (BMO)
- Expected EPS: 1.22
Key Focus Points:
- Attention on same-store sales and consumer discretionary spending trends.
- Off-price retail strength may offer insights into shifting consumer behavior as households navigate a mixed macro backdrop.
- Margins will be closely watched as freight and inventory costs ease.
- Market Sensitivity: Moderate — retail sector gauge.
Palo Alto Networks (PANW) – Q1 2026 Earnings – AMC
- Timing: After Market Close (AMC)
- Expected EPS: 0.89
Key Focus Points:
- Updates on cybersecurity spending from corporate and government clients.
- Growth in subscription and platform adoption will be central to revenue sustainability.
- Investors will assess whether recent guidance adjustments signal slowing demand or temporary normalization.
- Market Sensitivity: High — cybersecurity names have shown elevated volatility around earnings.
Target Corporation (TGT) – Q3 2025 Earnings – BMO
- Timing: Before Market Open (BMO)
- Expected EPS: 2.3
Key Focus Points:
- Analysts looking at inventory management and the retailer’s progress in rebuilding margins.
- Performance in grocery vs. discretionary categories may highlight consumer pressures.
- Any guidance updates heading into the holiday season will be closely dissected.
- Market Sensitivity: High — major retail indicator.
The 20 Daily SMA Holds
Although demand for safe haven assets is still high, gold fell precipitously from record highs following the Fed’s most recent rate cut comments, as profit-taking was prompted by Powell’s cautious tone. Earlier this month, gold jumped above $4.3800 following the Federal Reserve’s announcement of a 25 basis point rate decrease. But the impetus soon waned, and prices dropped back to $4,004. The 20 daily SMA (gray) held as support last week, but it gave way yesterday as sellers pushed Gold below $3,900 but buyers returned and pushed XAU above $4,000K.
USD/JPY breaks Above 155
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips.
USD/JPY – Weekly Chart
Cryptocurrency Update
Bitcoin Dips below $90K
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down below $105,000 before finding support at the 200 daily SMA (purple) and recovering above $115,000 but then fell toward $100K again. However over the weekend BTC started to rebound off the $10oK again and the price climbed above $106K but reversed lower and yesterday BTC fell close to $90K, breaking the 50 weekly SMA too.
BTC/USD – Weekly Chart
Ethereum Stays Close to $3,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. This Week we saw a dive below $3.500 as ETH heads below $3,000.
ETH/USD – Daily Chart
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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