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Forex Signals Dec 2: CrowdStrike, BHP, Okta and Manceshter United Earnings Spotlight
A fresh batch of earnings from tech, mining, finance, and sports-business such as Man United, BHP, Crowdstrike etc will help shape market..
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Last updated: Monday, December 1, 2025
Quick overview
- Earnings reports from major companies like BHP, CrowdStrike, and Manchester United are expected to influence market sentiment as year-end approaches.
- U.S. markets experienced a slight pullback after a series of gains, with the S&P 500 and Nasdaq both declining for the first time in six days.
- Economic indicators showed mixed results, with manufacturing data reflecting ongoing challenges such as tariffs and supply chain issues.
- In the currency market, the USD/JPY pair reacted sharply to comments from the Bank of Japan, indicating potential rate hikes.
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MARKETS TREND
A fresh batch of earnings from tech, mining, finance, and sports-business such as Man United, BHP, Crowdstrike etc will help shape market tone as investors assess sector momentum heading into year-end.
Market Overview
The broader U.S. markets saw a mild pullback as investors took a breather following several sessions of steady gains. The S&P 500 slipped 0.53%, while the Nasdaq dipped 0.38%, marking their first decline after a five-day winning streak. In fixed income, Treasury yields moved higher, with the 2-year rising to 3.534% and the 10-year climbing to 4.088%, reflecting a shift toward tighter financial conditions. Commodities were firmer on the day, with oil advancing to $59.55, gold gaining $12.50 to $4,231.25, and silver rising to $57.95.
Economic Data And Business Conditions
Economic releases painted a mixed picture of U.S. manufacturing strength. The S&P Global PMI came in slightly above expectations at 52.2 compared with 51.9 last month, signaling modest expansion. However, the more closely watched ISM Manufacturing Index remained below the contraction threshold for the tenth consecutive month, falling to 48.2 from an expected 49.0.
Respondent commentary continued to highlight strain across several dimensions of industry activity. Tariffs remain the leading headwind, driving up costs, discouraging demand, compressing margins, and forcing companies to reassess sourcing strategies, hiring plans, and long-term investments. Business leaders also pointed to a highly uncertain economic environment shaped by fluctuating policy signals, residual government shutdown effects, and uneven market behavior.
Supply chain issues persist, with firms experiencing longer lead times, inconsistent supplier capacity, and complications tied to global logistics. Soft demand further complicates the landscape, with customers ordering cautiously and avoiding inventory buildup due to limited confidence in the near-term outlook. Many companies are responding by restructuring—cutting staff, divesting non-core units, expanding offshore manufacturing, and tightening purchasing protocols.
Currency Market Developments
The most notable move in FX markets came from the USD/JPY pair. Comments from Bank of Japan Governor Ueda suggested that rate hikes may be drawing closer, prompting a sharp reaction during the U.S. session. The yen strengthened, pushing USD/JPY below the key 61.8% retracement level from the November rally at 154.74. The pair briefly touched 154.65 as traders reassessed the BOJ’s tightening trajectory.
Key Market Events to Watch Tuesday:
Eurozone Inflation Update
Eurozone flash HICP for October came in at 2.1% as expected, but core and super-core readings were hotter, with services inflation rising to 3.4% from 3.2%. Early November data showed France cooling more than expected and Spain coming in slightly firmer, while PMIs pointed to another pickup in service-sector inflation—though softer sales-price pressures may offset this.
Despite the mixed signals, the broader narrative remains unchanged: the ECB is widely seen as being at its terminal rate. HCOB expects no policy move in December, and recent comments from ECB officials suggest little urgency to tighten further. De Guindos noted ongoing wage and services inflation, while Lane emphasized the need for clearer non-energy disinflation before declaring victory.
Attention now turns to the December forecast round, which will include 2028 projections for the first time. Even so, policymakers like Kazaks and Makhlouf argue that 2026–2027 inflation is more relevant for policy, reinforcing expectations that rates are likely to stay where they are.
Earnings Calendar – Today’s Key Reports
- BHP Group (BHP)
- Event: Q3 2026 Earnings
- Timing: After Market Close (AMC)
Notes: Investors will focus on production volumes, cost guidance, and pricing trends across iron ore, copper, and nickel.
CrowdStrike (CRWD)
- Event: Q3 2026 Earnings
- Timing: AMC
- Consensus EPS: 0.94
Notes: Key insights expected on ARR growth, cloud security demand, and margin expansion as cybersecurity spending remains resilient.
Bank of Nova Scotia (BNS)
- Event: Q4 2025 Earnings
- Timing: Before Market Open (BMO)
- Consensus EPS: 1.84
Notes: Markets will watch loan-loss provisions, capital ratios, and signs of credit stress amid tightening financial conditions.
Okta (OKTA)
- Event: Q3 2026 Earnings
- Timing: AMC
- Consensus EPS: 0.76
Notes: Focus on identity-security growth, enterprise customer expansion, and progress integrating Auth0.
Manchester United (MANU)
- Event: Q1 2026 Earnings
- Timing: BMO
- Consensus EPS: 0.06
Notes: Revenue trends, sponsorship deals, and match-day income will be closely watched amid ongoing ownership and restructuring developments.
Gold Pushes Above November Highs
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 and buyers returned and pushed XAU above $4,200K yesterday.
USD/JPY Returns to 150
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 Fails at the 20 Daily SMA
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 after finding resistance at the 20 daily SM A(gray) and yesterday BTC fell below $85K.
BTC/USD – Daily Chart
Ethereum Returns Below $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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