- US stock futures extend gains ahead of Fed and key Big Tech earnings.
- AUD outperforms all G10 currencies amid higher-than-expected CPI reading.
- Gold and silver halt recent sell-off.
- US stock futures extend gains ahead of Fed and key Big Tech earnings.
- AUD outperforms all G10 currencies amid higher-than-expected CPI reading.
- Gold and silver halt recent sell-off.
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Futures on Wall Street indexes continue to rise ahead of key Big Tech earnings (Microsoft, Alphabet, Meta) and the Federal Reserve’s decision, which is widely expected to include a 25 bp rate cut in the U.S. The US100 is up for the sixth straight session (+0.35%), while US500 (+0.2%) and US2000 (+0.1%) are also in the green; US30 is slightly below the line, similar to EU50 in Europe (-0.02% to -0.08%).
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According to U.S. Treasury Secretary S. Bessent, “leaving room for the Bank of Japan will be key to anchoring inflation expectations [in Japan].” Bessent’s comment referred to Prime Minister Takaichi’s calls for closer cooperation between the BOJ and the government to achieve the new administration’s policy goals.
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Sentiment across the Asia-Pacific region remains mixed. AU200.cash is down nearly 1% following higher-than-expected CPI data, while in Japan (JP225: +1.3%) and South Korea (KOSPI: +1.7%), AI-driven optimism in tech stocks prevails, supported by record revenues from Nvidia supplier SK Hynix ($7.9 billion of operating profit), which produces DRAM memory chips.
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Consumer inflation in Australia rose above expectations in Q3, reflecting ongoing pressure from monthly readings and reinforcing the RBA’s hawkish stance. CPI increased 1.3% q/q (forecast: 1.1%, previous: 0.7%) and 3.2% y/y (forecast: 3%, previous: 2.1%; the highest since July 2024). The main drivers were housing (+2.5%), recreation and culture (+1.9%), and transport (+1.2%). Electricity prices jumped 9.0% due to annual tariff reviews and delayed rebates.
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The Australian dollar is gaining against all G10 currencies on the hawkish CPI surprise (AUDUSD: +0.4%, EURAUD: -0.6%, AUDNZD: +0.2%). The British pound is the weakest currency (GBPUSD: -0.2%, EURGBP: +0.1%), falling for a second session after the British Retail Consortium reported a 0.3% decline in shop prices in September. EURUSD is down 0.2% to 1.163.
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Gold halted its four-day decline, rebounding 1.1% to USD 3,980 per ounce; silver gained 2% to USD 47.84, while platinum (+1%) and palladium (+1.6%) futures also rose.
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Brent and WTI crude recovered after two days of losses (up 0.2% and 0.3%, respectively), as did natural gas, which added 0.6% after three red sessions.
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Cryptocurrency sentiment is mixed: Bitcoin trades flat, Ethereum adds 0.7% to USD 4,030, while Solana (+0.2%) and Ripple (+0.7%) are also higher; Chainlink slips 0.1%.
Economic calendar: Fed, BoC and Mag 7 companies to fight for investors' attention (29.10.2025)
BREAKING: SPA35 ticks down on lower-than-expected GDP in Spain 🇪🇸 📉
BREAKING: USDSEK dip 0.15% on above-estimates GDP data in Sweden 🇸🇪
Daily Summary – Wall Street Rises Ahead of “Magnificent Seven” Earnings
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