Log in to today's North American session Market wrap for October 6th
The week opens on the typical 2025 trade: Metals, propelled by Gold (1.90%) and Palladium (4.50%!), Cryptocurrencies, and Tech rage higher.
After three sessions of correction in US equities, the Dow Jones is attempting a comeback.
The move comes in the shadow of what had been a heavily risk-on pre-FOMC environment, where expectations for rate cuts kept fueling a wave of optimism across markets.
Volatility is back again after relatively unsurprising sessions since the past week FOMC.
It seems that the since last week, the 2025 theme of currency debasing, seeing a huge rally in metals (Gold, Silver at their yearly highs) and equities was intact after the September meeting which resulted in a cut.
The US Dollar has been rallying steadily since its pre-FOMC lows, with Powell’s not-so-dovish speech last week marking the start of a V-shape reversal from the sharp pre-meeting downfall.
This is a follow-up analysis and a timely update of our prior publication, “Gold (XAU/USD) Technical: Eyeing a new all-time high above US$3,675, supported by positive flows and positioning”, published on 15 September 2025.
GBPJPY is one of the most volatile FX pair available to trade including only major currencies – Yet, it's been stuck in a huge range since August 2024.
As explained in our previous article on this currency pair, a continuous uptrend from 2020 lows (127.30!) to July 2024 highs (208.12) has been met with a sharp correction as carry trades saw a consequent slowdown amid a sudden market-breakdown which suddenly saw yen rebuying speed up.
This is a follow-up analysis and timely update of our prior report, “Nikkei 225 Technical: Bullish trend remains intact despite Japan’s PM resignation”, published on 8 September 2025.
The currency market had been dormant for a while, but this is now a theme of the past yet again.
Throughout August, a first move higher from the Pound got met with a subsequent consolidation until the beginning of this month .
The recent price actions of Gold (XAU/USD) have started to trade firmer since last Friday, 22 August, with a gain of 1%, on increased hopes that the US Federal Reserve is likely to enact its first interest rate cut of 2025 in the next month's FOMC meeting.
The Australian dollar is showing limited movement on Tuesday. In the European session, AUD/USD is trading at 0.6482, down 0.01% on the day.
Friday's ecstatic trading brought all risk-assets including Equity indices, cryptocurrencies and FX currencies higher.
Germany’s GDP fell 0.3% q/q in Q2 2025 (0.2 pp below the flash); y/y: –0.2% unadjusted, +0.2% calendar-adjusted. Previous quarters: +0.3% (Q1 2025), +0.2% (Q4 2024). Destatis’ annual revision altered earlier quarters by –0.7 to +0.6 pp.
Log in to today's North American session Market wrap for August 19
After the consecutive days of White House invitations of key leaders, Markets start to price in a much higher chance of at least a truce which could be evolving to a longer-standing peace in Eastern Europe.
Nasdaq and the broader tech sector are starting the week more cautiously, with overnight futures showing the Dow holding up relatively well against the more risk-sensitive Nasdaq.
(An informal invitation to consult our most recent analysis on the Dow)
The dollar dropped for the second day in a row on Wednesday. This came after U.S. inflation data raised hopes for a Federal Reserve rate cut next month, and President Donald Trump's push for lower rates added more pressure on the dollar.
Wall Street's main indexes slipped on Monday as the US session got into gear. Market participants are bracing for a busy week which includes US inflation data and major geopolitical developments.
At the time of writing the S&P 500 was down 0.15% while the DOW was down as much as 0.54%, weighed down largely by industrial stocks, with the sector down 1.6% on the day.
