- The session on the American market began trading on Thursday with mixed sentiment, but as the session progressed, it became clearly negative. The publication of results from MAG7 companies indicates drastically different sentiment and conditions for companies with similar characteristics. Alphabet exceeded all expectations, Microsoft delivered a mixed report, while Meta fell over 8% despite good results. Investors are still waiting for the publication of Apple and Amazon after the session closes.
- Yesterday's speech by Jerome Powell scared some investors. The FOMC decided on a rate cut, but Jerome Powell clearly warned that the December cut is not guaranteed, despite the increasingly tense situation in the American economy.
- A similar dynamic could be observed in Europe. Investors in Europe clearly stood on the sidelines today, trying to discount today's ECB conference, the implications of new US-China trade negotiations, company results, and a solid dose of macro data. The leader of the declines is CAC40, which is down 0.5%. Smaller declines on DAX and WIG20, around 0.2%. FTSE 100 is doing better with an increase of around 0.2%.
- Today, there was a speech by ECB representatives. Led by Chairwoman Christine Lagarde, the representatives declared maintaining their reactive policy, clearly distancing themselves from their American counterparts who are under pressure for constant cuts. The ECB assured that the economy and labor market, despite weak growth, are doing well, and the risks to European growth and the financial system are decreasing despite the turbulent global environment. Investments in infrastructure and massive armaments have a positive impact on the EU economy, but the broadly understood industry remains under pressure.
- The day turned out to be disastrous for many cryptocurrency investors. Bitcoin lost over 3.5% and Ethereum over 5%. Smaller tokens are recording double-digit declines. Companies related to crypto trading are also losing.
- Gold halted its declines today. The price is rising by 1.7%. Similar increases can be observed in other precious metals.
- No major movements in the oil market. However, NATGAS contracts rose by 4% after information about reduced reserves of this resource in the USA.
- The yen is clearly losing after comments from the president of the Bank of Japan, which were received by the market as very dovish. The Japanese currency is losing almost 1% against the dollar and 0.6% against the euro.
- The Euro is also losing today, notably, the community currency began to lose before the interest rate decision and the ECB speech.
- The Trump-XI meeting ended with an extension of the trade truce for a year. China intends to limit its restrictions on the export of rare earth metals and resume soybean purchases from the USA. In return, the USA is to reduce some of its tariffs; the situation with AI chips, which China cares about, is not yet fully clear.
ECB Conference: Global Uncertainty, Policy Stability 💶
Chart of the day - Soybean (30.10.2025)
Morning wrap (30.10.2025)
🛢️WTI Crude Rises Over 2%
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
