Global markets are mixed today, with currencies, commodities, and equities each telling a different story. The Australian dollar is edging higher as the US dollar loses steam, oil prices are slipping under the weight of rising supply and a stronger dollar, and Cisco is gaining momentum thanks to solid earnings and growing demand for AI-driven networking gear. Together, these moves highlight a market shaped by shifting rate expectations, changing supply dynamics, and strong pockets of tech-sector growth.
Global markets are mixed today, with currencies, commodities, and equities each telling a different story. The Australian dollar is edging higher as the US dollar loses steam, oil prices are slipping under the weight of rising supply and a stronger dollar, and Cisco is gaining momentum thanks to solid earnings and growing demand for AI-driven networking gear. Together, these moves highlight a market shaped by shifting rate expectations, changing supply dynamics, and strong pockets of tech-sector growth.
Aussie Edges Higher as Dollar Faces Growing Pressure
The AUD/USD pair is trading around 0.657 as of November 13, 2025, after moving between roughly 0.645 and 0.654 in recent sessions. The overall tone is positive for the Australian dollar. Australia's economy has been showing stronger signs lately, while the US dollar is under pressure amid expectations that the Federal Reserve will cut interest rates soon. This setup gives the Aussie a gentle upward push, though traders remain cautious as global market sentiment can shift quickly and influence the pair's direction.
Aussie Strength Meets a Softening US Dollar
On the Australian side, the RBA has kept interest rates at 3.60% and suggested it's not planning more cuts soon because inflation is still a concern and the labour market remains strong. Recent data showed solid job growth in October, with more than 42,000 jobs added and unemployment falling to 4.3%, which helps support spending and keeps pressure on prices. Inflation is also sitting near the high end of the RBA's target range, especially with rising housing and rental costs, so the bank is staying cautious. Altogether, these factors give the Australian dollar a stronger foundation and reduce the chances of it weakening further.
On the US side, the Federal Reserve's key interest rate is sitting around 4.00%, and many traders expect the Fed to cut rates in December. The US labour market has been losing momentum, and a recent government shutdown has disrupted several economic reports, making it harder for markets to get a clear picture of the economy. If the Fed does lower rates, the US dollar usually becomes less attractive compared to currencies whose central banks are keeping rates steady or tightening. This adds to the downward pressure on the dollar, especially as investors grow more cautious heading into year-end.
AUD/USD Tilts Higher on Shifting Rate Expectations
Market sentiment for AUD/USD currently leans in favour of a stronger Australian dollar and a softer US dollar. Traders are pricing in fewer rate cuts from the RBA, and some even think the bank may pause or slowly tighten if inflation stays sticky. At the same time, many expect the Federal Reserve to cut rates in December, which reduces the appeal of holding US dollars. Global risk sentiment is fairly positive too, which usually benefits commodity-linked currencies like the Australian dollar. However, a sudden shift to risk-off trading could quickly reverse this, pushing investors back into the US dollar for safety.
Key risks include a surprise jump in Australian inflation, which could make the RBA more hawkish and boost the AUD further, as well as a possible US inflation rebound or tougher Fed tone that could strengthen the USD instead. A global slowdown or geopolitical shock could also hurt the AUD more than the USD. Overall, the outlook is neutral to slightly bullish.
WTI Slips as Oversupply and Strong Dollar Weigh on the Market
WTI is trading around $58.16–58.60 per barrel today, after dropping about 4.6% on November 12. Over the past month, prices have mostly held in the low $60s but have eased from earlier levels in the US$62–66 range. The market is under pressure because US crude inventories have been rising, and OPEC has shifted its outlook, warning that global supply could outpace demand in 2026. Overall, the tone is leaning bearish as traders react to growing signs of oversupply.
Oversupply Takes the Driver's Seat in the Oil Market
Fundamental drivers for WTI are currently mixed, though the bearish side is stronger. On the bullish front, geopolitical risks such as supply chokepoints or sanctions could tighten supply unexpectedly, and seasonal demand during colder months typically supports fuel consumption. However, several factors are weighing more heavily on the market. Global supply is rising faster than demand, with production estimated to be increasing by about 3 million barrels per day while demand grows by only around 0.7 million. US inventories also rose by roughly 1.3 million barrels in early November, adding to concerns about excess supply. Further pressure comes from forecasts suggesting a potential surplus of nearly 4 million barrels per day in the final quarter of 2025, along with strong US shale output and weakening OPEC+ discipline. Overall, while there are some supportive elements, oversupply remains the dominant force shaping the market.
Macro Forces Keep Oil Under Pressure
The macro and policy backdrop is adding extra pressure to the oil market. High global interest rates make it more expensive for companies to hold inventories and invest in energy-heavy industries, slowing demand growth. A stronger US dollar is also weighing on prices, since oil becomes more costly for buyers using other currencies. Inflation adds another layer of complexity: while higher prices can support steady energy use, they also dampen overall economic growth, which can reduce future demand. Geopolitical risks, including tensions in key supply regions, still pose the possibility of sudden disruptions, but the market is currently focusing more on the growing signs of oversupply. Much now depends on OPEC+ policy decisions—earlier in the year, risk premiums helped lift prices, but without deeper and more consistent output cuts, it won't be easy to swing the market back toward tighter conditions.
Cisco Strengthens Its Position as Networking and AI Demand Accelerate
Cisco is a global leader in networking hardware, software, and services. It provides switching and routing equipment, security, collaboration tools, and network management solutions to enterprise, data-centre, service‐provider, and government customers. Cisco operates in a market where digital transformation, cloud migration, AI infrastructure, and campus networking are key growth themes.
Cisco Lifts Outlook as Q1 Earnings Jump and Shares Rally
Cisco Lifts Outlook as Q1 Earnings Jump and Shares Rally: Cisco reported revenue of about $14.9 billion for Q1 FY 2026, an 8% increase from the same period last year. Earnings also improved, with reported earnings per share at $0.72 and adjusted earnings per share at US $1.00, showing steady growth in profitability. The company raised its full-year outlook, now expecting between US $60.2 billion and US $61.0 billion in revenue, with adjusted earnings per share projected between US $4.08 and $4.14. Investors reacted positively to the stronger guidance, pushing the stock up more than 8% in early European trading. As of today, the share price is around $73.96.
AI Demand and Rising Margins Give Cisco a Boost
Cisco is benefiting from strong demand for AI-related infrastructure, with about US $1.3 billion in orders from large cloud providers in the first quarter. As companies upgrade their networks and data centers, overall networking product orders rose 13% compared to last year, showing healthy momentum. Profitability is also improving, with operating margins and product margins increasing as the company scales its business. In addition, Cisco continues to return cash to shareholders through dividends and share buybacks, reflecting confidence in its financial strength and long-term strategy.
Key Weak Spots That Could Slow Cisco's Momentum
Cisco still faces some challenges despite its recent strength. Services revenue grew only slightly, and sales in security and collaboration products declined, which is notable because these areas usually offer higher-margin, recurring income. The company also operates in a highly competitive market, where both established rivals and newer players are pushing hard in networking, switching, and AI-related hardware. On top of that, broader economic and geopolitical factors—such as tariffs, supply chain pressures, and softer corporate tech spending—could slow customer orders or delay planned network upgrades.