The USD is mixed to start the North American session. The dollar is lower versus the EUR (-0.13%), CHF (-0.42%), NZD (-0.12%) and higher vs the JPY (+0.04%), GBP (+0.16%), CAD (0.06%) and AUD (+0.17%).
Yesterday, the Republican-led Senate passed a spending package late Monday to end the record-long government shutdown, with an approval vote of 60-40. Eight Democrats joined nearly all Republicans to push the measure through. Senate Majority Leader John Thune celebrated the move, calling it the end of the nation’s longest shutdown. The bill now heads to the GOP-controlled House, where it’s expected to pass with White House support. The vote followed a similar procedural vote Sunday night that narrowly met the 60-vote threshold to advance the bill.
In the UK, the employment data pointed to a cooling labor market. Claimant counts jumped by 29.0K, well above the 17.6K expected, signaling more people filing for jobless benefits. Wage growth slowed slightly, with the average earnings index rising 4.8% compared to forecasts and the prior reading of 5.0%, suggesting easing pay pressures. Meanwhile, the unemployment rate edged up to 5.0% from 4.8%, continuing its gradual climb. Overall, the figures highlight weakening labor conditions that could give the Bank of England room to turn more dovish in the months ahead. The GBPUSD is down -0.18%.
Switzerland is reportedly close to finalizing a deal with the U.S. to cut tariffs on its exports to 15% from 39%, with completion possible by Thursday or Friday pending President Trump’s approval. Negotiations gained momentum after Swiss executives met with Trump, who instructed USTR Greer to accelerate talks. The move comes as Switzerland seeks relief from the higher tariffs that have hurt economic growth and pushed unemployment to a four-year high. The USDCHF is down -0.43% (higher CHF) on the deal hope.
The latest UK employment data points to a cooling labor market. Claimant counts jumped by 29.0K, well above the 17.6K expected, signaling more people filing for jobless benefits. Wage growth slowed slightly, with the average earnings index rising 4.8% compared to forecasts and the prior reading of 5.0%, suggesting easing pay pressures. Meanwhile, the unemployment rate edged up to 5.0% from 4.8%, continuing its gradual climb. Overall, the figures highlight weakening labor conditions that could give the Bank of England room to turn more dovish in the months ahead.
In the premarket for US stocks, the Dow industrial average is modestly higher, the S&P and the NASDAQ indices are lower. There was a report overnight that SoftBank sold its entire 32.1 million-share stake in Nvidia in October 2025 for about US $5.8 billion, a move that coincided with a strong earnings period in which it reported roughly ¥2.5 trillion (≈ US $16 billion) in net profit. The company described the sale as part of a strategic pivot to monetize its Nvidia investment and channel funds into its growing AI ambitions, including major projects such as OpenAI and its “Stargate” AI infrastructure initiative. Despite the divestment, SoftBank and Nvidia remain connected, as many SoftBank-backed ventures continue to depend on Nvidia’s technology, and Nvidia remains a key partner within the broader AI ecosystem. Shares of Nvidia are currently trading down -1.80 at $195.46. Looking at the major indices, the futures are implying
- Dow industrial average of 12 points
- S&P index down -15.43 points
- NASDAQ index down -119 points
Looking at other markets
- Crude oil is up $0.35 or 0.625 at $60.50
- Gold is up $22.82 or 0.55% at $4138. Yesterday, the price rose by 2.88% its largest gain since May.
- Silver is up $0.67 or 1.32% at $51.16. Yesterday the price soared by 4.482% for its largest gain since June.
- Bitcoin is trading down thousand dollars at $104,945
Once again, the bond market is closed in observance of Veterans Day.
