APAC markets closed mixed today – Tokyo was shut (holiday), Hang Seng -0.9%, Shanghai Composite +0.5%, Australia’s S&P/ASX 200 -1%.
Wall Street futures are gaining slightly after Monday’s positive session.
Euro Stoxx 50 Futures +0.1% ahead of the open, following a -0.3% decline at the close yesterday.
Euphoria during yesterday’s Wall Street session stemmed from the announcement that OpenAI and NVIDIA have formed a partnership – NVIDIA will allocate up to USD 100 billion towards the development of OpenAI’s AI systems.
Piper Sandler raised its price target for Tesla stock to USD 500, emphasizing the company’s AI advantage.
Key reports scheduled for today: Micron, Kingfisher (earnings); the session will focus on flash PMIs (EZ/UK/USA), monetary policy decisions from the Riksbank and NBH; important speeches by officials from the BoE, Fed (Powell), ECB, BoC, and President Trump at the UN (09:50 ET / 14:50 BST).
The US dollar is steady after a correction, EUR/USD sits near 1.1800, USD/JPY retreats from its 200-day moving average (147.8); major currencies are moving in tight ranges. The Swiss franc and euro are currently performing best. There are notable declines in Antipodean currencies.
PBOC set the USD/CNY rate at 7.1057; according to Commerzbank, the dollar could theoretically weaken if Trump were to win the Supreme Court case regarding Lisa Cook from the Fed.
Gold extends gains at the start of today’s session, rising 0.18%. At the same time, NATGAS drops 0.82% and OIL.WTI falls 0.53%.
Crypto market sentiment is mixed. Bitcoin is down 0.15%, while Ethereum loses 0.14%.
BREAKING: Weaker than expected import & export data from Germany
Morning wrap (09.10.2025)
Daily Summary: Growth on most markets, Precious metals at ATH again
BREAKING: EURUSD Slightly lower on FOMC minutes! 🚨
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