- Federal Reserve speakers Tuesday include Bostic, Bowman, Miran, Kashkari
- Goldman Sachs raise Nvidia target to $210: cite strong AI momentum, expanding partnerships
- European Central Bank President Christine Lagarde speech, followed by Q&A, on Tuesday
- Evercore lifts bubble odds, sees S&P 500 at 9,000 by 2026. Point to AI and health care.
- Japan fin min Kato will thoroughly monitor for excess FX fluctuations, disorderly movement
- China gold reserves end September at US$283.29bn vs. $253.84bn end August
- Morgan Stanley: US inflation fears lowest since early 2022, but watch for tariff pressure
- Paul Tudor Jones says stocks could surge before a sharp market peak reminiscent of 1999
- Goldman Sachs raises 2026 gold forecast to USD 4,900 amid strong central-bank demand
- ANZ-Indeed: Australian job ads slide for third straight month. Labour demand eases.
- ICYMI - Tesla shares surge as Musk teases possible cheaper Model Y reveal
- Deutsche Bank say new Japan PM Takaichi’s fiscal push will delay BoJ tightening until 2026
- ING: RBNZ to cut 25bp in October, markets too dovish beyond that
- Japan August Household spending +2.3% y/y (expected +1.2%, prior +1.4%)
- Australia Westpac Consumer Confidence (October) -3.5% m/m (prior -3.1%)
- Markets eye China’s gold holdings in September reserves update. Data due Oct 7 China time.
- Bank of America warn gold’s sharp rally may be running out of steam as prices near $4,000
- The Democrat law to reopen the US government has failed for the 5th time in the Senate
- Fed's Schmid: Businesses are trying to delay hiring to get through the current situation
- Fed's Schmid says the Fed's balance sheet probably end this year close to US$6tln
- Fed's Schmid: Hard to know if stablecoin is anything different from Venmo on steroids
- Schumer calls b/s on Trump's claim he is negotiating with Dems on health care
- New Zealand Q3 business confidence 18% vs 22% previous quarter
- Fed's Schmid says inflation too high, worrying that price rises becoming more widespread
- Harvard’s Gopinath: Trump's “Liberation Day” tariffs tax hurting firms, not helping trade
- Trump on sending Tomahawk missiles to Ukraine, want 2 know what they'll do with them first
- JP Morgan turns bullish on Eurozone stocks, upgrades region to overweight
- Trump reverses Biden-era decision on Ambler Road - mine access will be built
- Another record for the S&P and NASDAQ indices
- Why did AppLovin stock (ticker APP) crash today?
Fed official Jeff Schmid said U.S. monetary policy remains slightly restrictive, with inflation still too high and price increases becoming more widespread, even as the labour market cools but remains healthy. Schmid emphasised the need to maintain inflation credibility while balancing policy goals, warning that boosting demand too aggressively could fuel renewed price pressures. He added that recent tariffs are likely to have only a muted inflation impact.
In New Zealand, the QSBO showed business confidence fell in the third quarter, signalling a risk of another technical recession and deeper interest rate cuts from the RBNZ. The Reserve Bank of New Zealand meet tomorrow, NZ time. A 25bp interst rate cut is widely expected.
In Australia, consumer confidence slid to a six-month low on renewed doubts over the timing of future rate cuts following stubborn inflation data. Meanwhile, ANZ-Indeed job ads fell 3.3% in September, extending their downtrend.
Gold traded just shy of US$4,000 per ounce as the U.S. government shutdown entered its second week, while political turmoil in France and Japan added to safe-haven demand. The PBOC said its gold reserves edged higher to 74.06mn fine troy ounces at end-September from 74.02mn in August. Goldman Sachs raised its end-2026 gold forecast to US$4,600/oz from US$4,300, citing sustained central-bank demand.
Despite the geopolitical backdrop, major FX pairs traded within subdued ranges, with volatility staying contained across USD, EUR, JPY, and AUD.
Asia-Pac stocks:
- Japan (Nikkei 225) +0.67%
- Hong Kong (Hang Seng) -0.67%
- Shanghai Composite Closed for Golden Week holidays
- Australia (S&P/ASX 200) -0.25%
