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The US dollar traded steadily as markets shifted focus from credit-stress worries to trade optimism.
The Japanese yen weakened amid firmer equities and expectations of fresh policy easing in Japan.
EUR/USD and GBP/USD eased modestly as investors balanced safe-haven flows with expectations of a potential Federal Reserve rate cut.
Crypto
The crypto market attempted a recovery before losing momentum. Bitcoin briefly approached USD 111,000, while Ethereum regained ground near USD 4,055. However, sentiment turned negative later in the day, with Bitcoin retreating below USD 107,000.
Commodities
Gold stayed firm as investors sought safety amid geopolitical uncertainty and rising rate-cut expectations.
Oil prices slipped slightly as global supply worries eased, while demand concerns from China continued to weigh on sentiment.
Indices
Global equities advanced as risk appetite improved.
- Asia: Japan’s Nikkei 225 neared the 50,000 level, driven by optimism around potential fiscal and monetary stimulus.
- US: The S&P 500 and Nasdaq 100 posted solid gains, led by strong performances in technology stocks.
Winners & Losers
- 🏆 Winner: Nikkei 225 (+0.8%) — boosted by hopes of pro-stimulus Japanese leadership.
- 💥 Loser: Japanese Yen (▼) — weakened as equities rose and easing expectations grew.
Today’s Outlook & Key Risks
Outlook: Risk-on mode remains in play. If US-China trade relations continue to thaw, equities and crypto could extend gains, while the dollar may soften on dovish Fed signals.
Risks:
- Renewed tension in US-China trade talks could reverse sentiment.
- Disappointing inflation data or hawkish central-bank remarks may boost the dollar and hurt risk assets.
- Weak Chinese demand or geopolitical flare-ups could shake commodities and energy markets.
Key Economic Calendar Highlights
- US Leading Index (Sep): Expected +0.1% after a 0.5% fall in August.
- Canada CPI: Anticipated slight increase.
- Earnings Watch: Netflix (NFLX), Coca-Cola (KO), Philip Morris (PM), L’Oréal ADR (LRLCY), 3M (MMM), and Nasdaq Inc (NDAQ) are set to report today.
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