Westpac says RBA’s November meeting remains “well and truly” live after jobs dataFederal Reserve Bank of St. Louis President Alberto Musalem speak on FridayBank of England Chief Economist Huw Pill speaks on FridayJapan LDP, opposition CDP, agree to hold vote to decide next prime minister on Oct 21MUFG: ECB may cut again by mid-2026 but euro seen firm as Fed eases fasterGold washing out from its record high, back under US$4290Seoul warns of FX risks as Trump pushes for US$350 bn upfront paymentPBOC sets USD/ CNY reference rate for today at 7.0949 (vs. estimate at 7.1154)China’s Canadian oil imports hit record as Beijing shuns US crudeSeptember Singapore Non-oil Domestic Exports (NODX) +6.9% y/y (vs. expected -2.1%)Standard Chartered say global reserve managers are trading the US dollar countercyclicallyKashkari: Fed may be overstating slowdown, backs more insurance rate cutsUS jobless claims seen falling, but labour market remains sluggish – previewWestpac: US dollar strength driven by yen weakness and global policy divergenceNomura: China likely to drop specific growth target in 15th Five-Year PlanS&P: Trump’s tariffs to cost $1.2 trillion, consumers bear most of burdenReports that the US military have struck another drug boat in the CaribbeanECB’s Scicluna says the Bank must not rush into further rate cutsFed’s Kashkari says its too soon to know the impact of tariffs on inflationSOFR rise above Fed Funds signals emerging US funding tightness (**** could hit the fan)ICYMI: China accuses US of fuelling global panic over rare earth export curbsOn & on it goes. HSBC see gold rally extending in 2026: fiscal fails, central bank demandPharma giants NVO and LLY stock prices slammed lower after hours – Trump comments weighingTrump says he thinks the price of fat loss drugs will fallMiran talking down tariff inflation impactUS stocks close lower. Russell 2000 tumbles by over 2%investingLive Americas market news wrap: Waller signals 25 bps rate cut this month
Gold staged another volatile session, surging to a record high above US$4,370 late in the U.S. day and into the Asian morning. The near-parabolic rally was followed by a swift plunge, reversing sharply below US$4,290, and followed then by a recovery, with prices stabilising around US$4,260 later in the session. There was no clear catalyst behind the move(s). Silver also hit a record high above US$54.30.
In equities, regional markets slipped, tracking Thursday’s weak Wall Street close, as concerns over risky bank lending continued to weigh on sentiment.
Among corporates, Novo Nordisk and Eli Lilly fell in after-hours trading after President Trump remarked on a push for price cuts on weight-loss drugs, pressuring the sector.
From the Federal Reserve, Minneapolis Fed President Neel Kashkari said he expects two more “insurance” rate cuts before year-end, describing the economy as stronger than perceived. His balanced remarks reinforced expectations for measured, rather than aggressive, policy easing.
In currencies, the euro outperformed, with EUR/USD climbing back above 1.1710, while USD/CHF drifted lower toward 0.7900 as the Swiss franc firmed.
Asia-Pac
stocks:
Japan
(Nikkei 225) -1.28%Hong
Kong (Hang Seng) -1.59%Shanghai
Composite -1.00%Australia
(S&P/ASX 200) -0.75%
This article was written by Eamonn Sheridan at investinglive.com.