Crypto turmoil and ECB signals dominate early trading while gold and oil hover near recent levels.

Global markets opened with a cautious tone on Friday. A fresh wave of uncertainty from a reported Binance security breach kept crypto assets under pressure, while the euro showed modest recovery after hitting a fresh low. Meanwhile, equity indices were weighed down by disappointing earnings from major tech names, and precious metals and oil remained range‑bound as investors await upcoming data releases.

Currencies and central banks

The euro rallied modestly after the European Central Bank left rates unchanged, but ECB President Christine Lagarde warned that a further hike in December is still likely. This comment helped EUR/USD climb back above the October 14 low, though it remains below the recent high. In the UK, the pound stayed near 1.34 against the dollar after a split vote at the Bank of England on the upcoming November 5 meeting, keeping GBP/USD ahead of EUR/USD. The Japanese yen was largely flat, with USD/JPY hovering just above the 158.00 level after US growth data missed forecasts and tech earnings disappointed.

Gold and commodities

Gold (XAU/USD) attempted a reversal but sellers held the line at key resistance, pushing the metal toward a bearish correction. The price action highlighted the vulnerability of the near‑term support zone, especially as the monthly moving average remains weak. Crude oil prices settled lower, with WTI trading in a symmetrical triangle near recent highs. Diplomatic moves in the Middle East provided some relief, but supply concerns kept the market cautious.

Crypto

Binance, the world’s largest crypto exchange, disclosed a potential security incident that may involve up to $2.77 billion. The exchange said funds are "completely safe" and investigations are ongoing. The news sparked a sharp sell‑off, with BNB down about 7% and Bitcoin and Ether slipping 3.3% as reports of multibillion‑dollar transfers from Binance‑linked wallets circulated. Subsequent analysis showed suspected hack wallets moving stablecoins to decentralized exchanges, adding to market unease.

Stocks

Tech stocks led the equity decline. Reddit warned of weaker sales and announced a login‑requirement test as Google search traffic fell, sending its shares lower. Intel’s earnings missed expectations, citing a slowdown in the PC market, and its stock dropped 21%. Google’s valuation fell by $500 billion after AI‑related search summary features raised concerns about ad revenue, pushing the stock to a six‑month low. In contrast, Rivian posted a beat on Q3 earnings, driven by higher software revenue and increased deliveries, and lifted its 2026 guidance.

Key calendar events (next 24 hours)

• 02:30 UTC | JPY BOJ Policy Rate | high impact
• 02:30 UTC | JPY Monetary Policy Statement | high impact
• 02:31 UTC | JPY BOJ Outlook Report | high impact
• 05:30 UTC | JPY BOJ Press Conference | high impact
• 07:29 UTC | EUR German Prelim CPI m/m | medium impact
• 09:00 UTC | EUR German Prelim GDP q/q | medium impact
• 12:30 UTC | CAD GDP m/m | medium impact
• 12:30 UTC | USD Employment Cost Index q/q | medium impact

Related news

• Ethereum dips below $2,300 as US PCE inflation supports December rate hike
• Gold price forecast: bearish reversal threatens key support
• ECB holds rates as markets eye December hike forecast
• Coinbase posts $719 million Q3 profit driven by crypto holdings

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This article is compiled from international market news for information only. It is not investment advice.