Author: FX

Goldman Sachs says gold remains its top long trade as rally accelerates.Goldman Sachs reiterated its bullish stance on gold, calling it the bank’s “favorite long commodity” after prices surged to fresh records. The precious metal has broken out of its Q2 trading range of $3,200–$3,450 an ounce, rallying 14% since late August to around $3,865/oz — a gain of 47% so far this year.Analysts said the rally has been driven mainly by three conviction buyers in their gold price framework: a sharp rise in Western ETF holdings, renewed central bank demand after the summer lull, and, to a lesser extent,…

Justin SullivanApple (NASDAQ:AAPL) has tabled its efforts to produce a follow-up to its Vision Pro headset in favor of developing a new line of smart glasses powered by artificial intelligence, according to Bloomberg. The Cupertino company has moved staff from working Source link

Markets navigated the first US government shutdown in seven years with surprising resilience on Wednesday, as equities posted a fourth consecutive gain despite the political dysfunction in Washington. The shocking negative ADP payrolls print intensified Fed rate cut expectations, sending Treasury yields lower while gold and Bitcoin marched higher. Check out the headlines and economic updates you may have missed in the latest trading sessions! Headlines & Data: U.S. Government Shutdown begins at 12:01 AM ET as lawmakers fail to reach funding agreement Australia AIG Manufacturing Index for September 2025: -13.2 (-22.0 forecast; -20.9 previous) Japan Tankan Large Manufacturers Index for…

The S&P index is trading up 25.81 points or 0.39% at 6714.40. That takes the price above the highest closing level from September 22 at 6693.75. S&P on pace for a new record close.The Dow industrial average is up 72 points or 0.16% of 46473. Its highest close level was on September 22 at 46381.54.The NASDAQ index is the largest gainer today with a gain of 107.3 points or 0.47% at 22767.33. However it is just shy of its record close from September 22 at 22788.98. The high price just reached 22770.18.Pharmaceuticals/drug companies are faring the best. Biogen is up…

Eurozone inflation rose 2.2% YoY in September, core HICP steady at 2.3%, both aligned with economists’ forecasts.Eurozone manufacturing PMI falls to 49.8, back into contraction zone, while UK factory PMI held unchanged at 46.2.UK GDP stagnated in Q2, with households under inflation pressure and tax hike risks weighing on Sterling outlook.EUR/GBP drops during the North American session on Wednesday after the latest release of inflation in the Eurozone came in line with estimates, but slightly above the European Central Bank’s (ECB) goal. The cross trades around 0.8696, down 0.36%.Cross falls despite Eurozone CPI holding above ECB’s target and business activity…

Gold extends its record-breaking rally as the US shutdown drives safe-haven flows.Fed rate-cut bets strengthen, with markets pricing a 96% chance of a 25 bps cut in October S&P Global Manufacturing PMI held steady at 52, while ISM PMI rose modestly to 49.1 but remained in contraction.Gold (XAU/USD) soars to yet another record high on Wednesday, extending its relentless climb as the United States (US) government shutdown fuels safe-haven demand. At the time of writing, XAU/USD is trading around $3,870 during the American session, after peaking at a fresh all-time high near $3,895.The US government officially entered a shutdown early…

GBP/USD surges to one-week high as weak ADP data and US government shutdown dent Dollar The British Pound (GBP) advances sharply against the US Dollar (USD) on Wednesday, with GBP/USD climbing to a one-week high, reaching its strongest level since September 24, as the Greenback remains under broad pressure amid a weaker-than-expected ADP Employment Change report, the ongoing United States (US) government shutdown, and mounting bets on further Federal Reserve (Fed) interest rate cuts. Read More…   Pound Sterling refreshes weekly high against US Dollar The Pound Sterling (GBP) posts a fresh weekly high near 1.3490 against the US Dollar (USD) during the European…

Hey, forex rookies and seasoned vets! If you’re wondering why your currency pair is swinging wildly, chances are the big, bad central banks are flexing their muscles. Understanding what these financial titans like the Fed and the ECB are doing with interest rates is probably the top fundamental theme in trading. Why? Because interest rates are the price of money! They influence everything from inflation to unemployment, and ultimately drive capital flows. If a country offers a higher return (rate), money tends to flow in, potentially boosting that currency’s value. If a central bank starts cutting rates, the opposite often…

Prelim was 52.0Prior was 53.0Selling price inflation drops to 11-month lowJob losses recorded amid uncertain outlookCommenting on the latest survey results, Paul Smith, Economics Director at S&P Global Market Intelligence said: “Latest data showed the continued underperformance of Canada’s manufacturing economy. Output, new orders and exports all continued to fall, with the uncertain trading environment also leading firms to make cuts to purchasing, inventories and employment. “Once again tariffs and Canada’s trading relationship with the United States remained a dominant theme amongst survey participants, as firms noted the detrimental impacts on exports and confidence in general. Firms therefore understandably remain…

Bullish above: Conditional: down through 6,670 then back above 6,672, or clean break above 6,706 Bearish below: 6,694 Primary Bias: Bearish while below 6,694 Partial Targets: 6,679 • 6,684 (POC) • 6,693 • 6,700S&P 500 Market Context & Directional BiasAt the time of writing, S&P 500 futures trade near 6,685—already inside bearish territory per today’s compass line at 6,694. That aligns with price holding below yesterday’s value area low. The nearer, higher-probability bullish path is the condition trigger: if futures first wash down toward 6,670 and then reclaim 6,672, the bullish threshold activates; otherwise, a straight break above 6,706 also…