Foreign Exchange Market Update

November 20, 2025

United States (U.S.)

A report released by the Labor Department on Thursday showed employment in the U.S. increased in September. The Labor Department reported that non-farm payroll employment increased by 119,000 jobs in September, following a gain of 4,000 jobs in August. Meanwhile, the report said the unemployment rate crept up to 4.4% in September from 4.3% in August. 11/20/2025 - 08:40:00 (RTTNews)

First-time claims for U.S. unemployment benefits fell in the week ending on November 15, according to a report released by the Labor Department on Thursday. The report stated that initial jobless claims decreased to 220,000, an 8,000 drop from the previous week's level of 228,000. The Labor Department said the less volatile four-week moving average also slipped to 224,250, a decrease of 3,000 from the previous week's average of 227,250. 11/20/2025 - 08:45:00 (RTTNews)

Eurozone

Euro traded at 1.1534 against USD at 9:00 AM PST

Italy's construction output increased in September after contracting in the previous month. Construction production rose 0.9% monthly in September, reversing a 2% decrease in August, which was the steepest decline in eight months. Meanwhile, the yearly growth in construction output accelerated to 4.4% in September from 3.5% a month ago. On an unadjusted basis, the annual construction production logged the fastest growth in 14 months after a 0.1% renewed fall in August. 11/20/2025 - 07:49:00 (RTTNews)

Spain's foreign trade deficit increased notably in September from a year ago, as imports grew much faster than exports. The trade deficit rose to EUR 6.0 billion in September from EUR 3.3 billion in the corresponding month last year. In August, there was a shortfall of EUR 5.98 billion. Exports climbed 2.6% year-over-year in September versus 1.9% growth in August. Imports surged 10.1% after rising only 0.1% in the prior month. Shipments of raw materials grew the most, by 43.7% annually, while the country imported 17.8% more capital goods in September.

Monthly, both exports and imports grew by 33.1% and 26.7%. The country's total trade deficit stood at EUR 15.99 billion in the 3rd quarter, up from EUR 10.01 billion in the second quarter. 11/20/2025 - 07:10:00 (RTTNews)

Germany's producer prices continued to fall in October due to the sharp decrease in energy prices. Producer prices dropped 1.8% year-on-year in October, slightly faster than the 1.7% fall in September. This was the eighth consecutive decrease. Excluding energy, producer prices rose 0.8% in October compared to the same month of the previous year, while they were down by 0.1% compared to September 2025.

Energy prices plunged 7.5% from the prior year. At the same time, intermediate goods prices dropped moderately by 0.5%. Partially offsetting these declines, prices of durable and non-durable goods moved up 1.7% and 2.3%. Capital goods prices advanced 1.9%. Monthly, producer prices edged up 0.1%. 11/20/2025 - 03:03:00 (RTTNews)

Hong Kong Inflation Rises to 1.2%

Hong Kong's consumer price inflation increased slightly in October to the highest level in four months. The CPI climbed 1.2% year-over-year in October, following a stable 1.1% increase in September. Inflation based on transportation accelerated to 3.1% from 2.2%, and the annual price growth in food rose to 0.9% from 0.8%.

Housing costs were 1.6% higher, while clothing and footwear prices were 4.7% less expensive. Netting out the effects of all the government's one-off relief measures, the underlying inflation was 1.0% in October, the same as in September. On a seasonally adjusted basis, the average monthly rate of change in the 3 months ending in October was 0.1%. 11/20/2025 - 06:09:00 (RTTNews)

Taiwan Export Orders Rise 25.1% in October

Taiwan's export orders grew for 9 successive months in October. Export orders grew 25.1% annually in October, though slower than the 30.5% surge in September. Orders for electronic products grew the most, by 35.9%, and those of information and communication products increased by 28.4%. Meanwhile, orders for textile products fell by 13.7%. Monthly, export orders dropped 1.2% in October, reversing a 17.0% sharp rebound in September. In New Taiwan dollar terms, export orders rose 19.4% annually, while they decreased by 0.4% monthly in October. 11/20/2025 - 06:40:00 (RTTNews)