- US major indices claw back some of the declines
- Goldman Sachs warns U.S. shutdown could be one of the longest in history
- Crude oil futures settle at $59.49
- More Paulson: Sees labor supply and demand for workers declining at about the same pace
- Fed Paulson: Favors gradual path of rate cuts over this year into next
- Ukraine's Zelensky to meet Trump in Washington on Friday
- Major European indices close higher led the German DAX
- Trump: Would love to take off Iran sanctions, if they talk
- Gold tops $4100 for the first time.
- Silver trades to a new record high
- Israeli defense minister Katz: Any delay in releasing bodies will be a gross violation
- Can peace beget peace and the trend for it continue?
- While the US will continue to be void of data, Fedspeak and earnings will be the focus
- Peace. Hostages are released. The USD is mixed. Stocks are higher
- US Bessent: 100% tariffs doesn't have to happen
- More from US Bessent: Trump's Friday social media post turned the tables
- investingLive European markets wrap: Dollar steadies alongside risk mood, gold jumps
US stocks closed higher - erasing some of the declines but not all. The gains can be attributed to less confrontational remarks from Trump to China over the weekend, Trump said the U.S. wants to “help China, not hurt it,” adding that tariffs “don’t have to happen,” while Treasury Secretary Bessent reaffirmed that the U.S. remains open to talks. Maybe. Maybe not.
China's export numbers today showed that they can export to other nations other than the US (or is that circumventing the tariffs through tariff arbitrage?). Let's say China is still a wild card but the market's fear was allayed today. PS the hostage release and hopes for lasting peace were also a feel good story that helped give equity markets a boost.
Nevertheless, tomorrow will be a key day for the stock market as the Nasdaq is closing the day, near the 100 hour MA at 22695 (closed at 22694).
The USD rose vs most of the currencies today.
EURUSD: The EURUSD saw the pair move briefly above the 100 hour MA in early trading, only to fall to swing area between 1.1548 to 1.15612 and find willing buyers. The price bias is to the downside with the 100 hour MA at 1.1602 the key resistance target and bias defining level.
GBPUSD: The GBPUSD also stayed below its 100 hour MA (currently at 1.3355) but is closing within a swing area between 1.3323 and 1.3341. Moving below the lower extreme and staying below will be more bearish. Moving above and also above the 100 hour MA at 1.3353 would be more bullish.
USDJPY: The USDJPY rose today and tested its higher 100 hour MA at 152.457. The price is trading at 152.19 currently. Staying below keeps the seller in play but there is more work to do to the downside if the sellers are to take more control.
Fed’s Anna Paulson also spoke for the first time since becoming Philadelphia Fed President, striking a dovish but balanced tone—emphasizing that policy should prioritize full employment and price stability, with gradual rate cuts expected through this year and into next.
The price of gold and silver both moved to new highs The US debt market was closed due to the Columbus Day holiday.
