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NVIDIA EARNINGS PREVIEW
Tech behemoth NVIDIA reports earnings on Wednesday, November 19th at 21:20GMT/16:20EST, with investors eagerly awaiting their metrics given their AI market leading status.
In terms of expectations, Q3 adj. EPS is forecasted at USD 1.24 and Revenue at USD 54.41bln. Looking at the breakdown, Data Centre at USD 48.3bln, Gaming USD 4.41bln, Automotive USD 621mln, Professional Visualisation USD 611mln, OEM and other USD 169.5mln. Ahead, next quarter profit and revenue expected at USD 1.42 and USD 60.82bln, respectively. For the FY, EPS seen at USD 4.50 and revenue USD 206.06bln.
Source: Try Newsquawk free for 7 days
FOMC MINUTES PREVIEW
In the upcoming FOMC Minutes focus will largely be on how divided the Committee is moving forward, and how split members were on the decision to cut rates at the October meeting. As a reminder, the Fed cut rates by 25bps in the last confab to 3.75-4.00%, with two dissenters: 1 hawkish (Schmid) and 1 dovish (Miran)…. Click for a detailed preview
- Dollar continues to firm aross-the-board ahead of the release of FOMC minutes. EURUSD slides below 1.1550, USDJPY trades above 156.50, GBPUSD falls below 1.31
- Stocks opened higher but have since settled back after US500 bounced off 6690 and NAS100 stayed below 25000 as all brace for Nvidia.
- XAUUSD is back below 4100 after failing to reach 4150 (61.8%)
- BTCUSD continues to struggle regaining a bid, back below 90k, recent low 89150
NAS100 (NASDAQ) UPDATE
- It’s hard to suggest a trade in NAS ahead of Nvidia earnings given its history of blockbuster results vs. a very high  bar set by markets and options indicating a 7% stock move risk following the results.
- Resistance: 25280, 25738, 26273
- Support: 24246. 23974, 22944
Levels to watch;
NAS100 DAILY CHART
Forex Market Snapshot
- The dollar is trading firmer as markets look ahead to the release of FOMC minutes and (with greatest attention) Nvidia’s earnings report after stock markets close
- USDJPY continues to firm, extending its high further above 155.50
- GBP is weaker (vs. EUR as well) following the realese of UK CPI
- EURUSD is following with a lag but remains defensive while below 1.16
NAS100 (NASDAQ) UPDATE
- With tech shares leading the stock market sell-off, NAS100 is especially hoping Nvidia earnings bails it out.
- Damage not yet fatal with a pause (24307 low) above the last line of defense at 24244 before major support at 23973.
What would ease the risk?
- Above 24785-885 would take it out of the danger zone but only back above 25283 would shift the risk the other way.
NAS100 4 HOUR CHART
US500 (SP500) UPDATE
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- Stocks remain on the defensive ahead of Wednesday’s Nvidia earnings report after the close, which bulls hope will send them a lifeline.
- Tuesday low: 6576
- 6532 =Â the last line of defense before major support at 6496
What would deflect the risk?
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- Above 6690 would take it out of the danger zone but only back above 6783 would shift the risk the other way.
US500 4 HOUR CHART
Forex Market Snapshot
Most currencies are close to unchanged in what can be described as a waiting for Nvidia market or a calm before the next storm. USD trades with a better tone while EURUSD is below 1.,16 and USDJPY is above 155. CAD and NZD are modest outperformers.
Action has been elsewhere
- US stocks down but off lows,
- GOLD bouncing after a brief test just below 4000
- BITCOIN plunging below 90000 before bouncing back above it
NAS100 (NASDAQ) UPDATE
- On the defensive but pause above Friday’s 24571 low keeps the focus on 25000, a level that traded 3 days in a row.
- If low holds. then consolidation range is 24541-25265
- Big picture: Momentum down but only a break of 23974.would be fatak.
- Key event: Nvidia/s earning report after Wednesday’s close
NAS100 DAILY CHART
NAS100 (NASDAQ) UPDATE
- Completed a 61.8% retracement (61.8% = 25365 vs. 25685 high (always give some leeway given volatility and large denominator in NAS100),.
- This leaves it in limbo and consolidating as long as it stays above Friday’s 24541 low awaiting Nvidia’s earnings report.
- Question to consider: Who wants to be short NAS heading into Nvidia given its history of earnings beats although this time the bar is set high.
- Meanwhile, 25000 will remain pivotal in determining NAS100’s eventual fate.
NAS100 4 HOUR CHART
US500 (SP500) UPDATE
- Early rally fizzled after a pause below 6792 = 61.8% of 6880 => 6650 (a level cuted at Friday’s close and yes the Sunday night open)  above which is needed to make it more than just a retracement.
- Otherwise, US500 still trading on the defensive but consolidating while above Friday’s 6650 low awaiting Nvidia earnings after Wednesday’s close.
US500 1 HOUR CHART
FX option expiries for 17 November 10am New York cut
The resurgence in risk trades in US trading on Friday remains the key theme to take note of. That as risk sentiment continues to be the number one driver in dictating price action since last week. A strong rebound in the end helped to salvage what could have been an ominous week for Wall Street, though tech shares will remain under heavy scrutiny ahead of Nvidia’s earnings this week.
As such, major currencies will continue to revolve mostly around how risk sentiment fares still for the time being.
Forex Market Snapshot
- Mood starting out with the dollar generally firmer with the CAD firmer on respective crosses in cautious trading as markets look ahead to key events this week.
- In this regard, Nvidia earnings are likely to overshadow US data, which will either be seen aa old or distorted by the shutdown. This doesn’t mean there won’t be some volatility around data releases but that it will be hard draw conclusions from it.
- US stocks are up to set a risk on start to the week but off highs.
NAS100 (NASDAQ) UPDATE
- Similar to US500, may see some consolidation to start the week with bulls hoping Nvidia earnings mid-week will throw a lifeline ro tech shares.
- To ease technical risk, 25265 – 61.8% of 25768 => 24451 would need to be broken with the daily trendline above
- nI any case, 25000 likely to stay pivotal
NAS100 DAILY CHART
Will Nvidia earnings save stocks? Will the US jobs report be released next week?
Newsquawk Week Ahead: Highlights 17-21st November 2025
5 Things You Need to Know
APAC stocks traded higher amid the improving US-China trade environment and with hopes of ending the US government shutdown as several Democrats supported Republicans to pass a measure through the procedural vote in a rare Senate session on Sunday.
US Senate voted 60 vs 40 to advance the government funding bill through the procedural hurdle, moving it closer towards passage, after 8 Democrats supported the measure in a rare Sunday session.
Chinese inflation data over the weekend which printed above forecasts, although factory gate prices remained in deflation.
NVIDIA (NVDA) CEO said they have very strong demand in Blackwell chips and asked TSMC (2330 TT) for more wafers to meet strong AI demand.
European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 1.4% after the cash market closed with losses of 0.8% on Friday.
Nvidia Corporation Stocks – NVDA
Resistances: 183.30, 184.70 & 191.35
Supports: 179.75, 177.30 & 173.15
Nvidia in a correction phase and still seen as Bullish.
Channel support level that has to be untouched is at 165.65, so enough space for consolidation.
Only below that level tings would turn nasty for Nvidia…
Searching for news why stocks have reversed lower. Only headline I have seen is this one, which may be weighing on Nvidia and dragging stocks lower.
