ð¢ïž Oil eases, all eyes on the Fed Brent has slipped to about $110 as Saudi, Turkish and Pakistani officials met Iranian leaders to calm tensions. Houthi attacks on Saudi targets continue, though, and Washington hints at more strikes on Iran. Elevated crude keeps inflation worries alive ahead of the Fed decision on Wednesday. A hold is about 90% priced in, and the odds of a December hike are around 73%. â ïž
ðºðž Wall Street (Monday close) Tech led the rally after Anthropic filed for its Nasdaq IPO. ð€ ð S&P 500: 7,676.77 (+0.70%) ð Nasdaq: 26,169.38 (+0.82%) ð Dow: 52,361.58 (+0.28%)
ð Asian markets ð¯ðµ Nikkei 225: 63,316 (+1.8%), led by chip stocks ð°ð· Kospi: 5,626 (+2.9%), after Q3 GDP beat forecasts at +1.0% q/q ðŠðº ASX 200: 8,850 (+0.5%) ðð° Hang Seng: 23,058 (â0.7%) ðšð³ Shanghai: 3,683 (â0.4%), despite Chinaâs industrial profits rising 14.4% y/y
ð Today: US consumer confidence, durable goods and new home sales, plus earnings from Coca-Cola, Visa and Boeing. The FOMC meeting begins. ðïž Coming up: Fed, Alphabet and Microsoft on Wednesday; ECB, US GDP and PCE on Thursday; BoJ on Friday. ð
ð NordFX | Earnings Season and FX: Revenue Translation Meets the Late-October Build-Up ð 19â23 October 2026
ðµ Overseas sales. Dollar effects. Market-moving guidance. This earnings week, look beyond the profit headline.
ð Confirmed dates: Netflix reports on 20 October, followed by Tesla on 21 October, both after the US market close.
ð The FX detail to watch: A stronger dollar reduces the dollar value of foreign-currency revenue, all else equal. Compare reported growth with constant-currency growth, where available, and listen for comments on international demand, pricing and hedging.
⡠The backdrop: Investors are weighing growth optimism against interest-rate concerns, while Middle East tensions keep energy and inflation risks in focus.
ð Scenarios for the week: ð¢ Resilient overseas demand and upbeat guidance could support risk appetite and AUD/USD. ðŽ Weak outlooks or geopolitical escalation could boost defensive USD demand, weighing on EUR/USD and GBP/USD.
ð¯ Key takeaway: Earnings influence FX through sentiment and rate expectations. Look for confirmation from Treasury yields and the dollar before chasing the first move.
A company reports +5.6% revenue growth. Great news? Maybe. ð
PepsiCoâs latest Q3 results show why headline numbers can mislead:
ð Net revenue: +5.6% ðŠ Organic revenue: +3.1% ð± FX translation: +0.7 percentage points ð¢ Acquisitions/divestitures: +1.7 points
In other words, part of the reported growth came from currency movements and corporate transactions, not simply from selling more products.
And FX can work in either direction. Accentureâs FY2026 revenue grew 6% in US dollars but 5% in local currency.
ð This matters even more now. The dollar recently hit an 18-month high, while political and fiscal turbulence in Europe is adding volatility to major currencies.
So when earnings headlines say âRevenue +X%â, look deeper. ð
Reported growth â underlying sales growth.
ð¡ Check organic and constant-currency figures before judging how fast the business is really growing.
US inflation has delivered another warning to the Fed.
ðºðž September CPI accelerated to 3.7% YoY, up from 3.4%, while monthly inflation reached 0.6%.
More importantly, underlying inflation came in hotter than expected: ð Core CPI: 2.6% YoY vs 2.5% expected ð Core CPI: 0.3% MoM vs 0.2%Â expected
The timing is uncomfortable. ð¢ïž Brent is above $106 as tensions around Saudi Arabia and the Strait of Hormuz keep energy risks elevated.
For the Fed, the message is clear: inflation is proving sticky. An October hike is still not the base case, but markets now see a December increase as highly likely.
ðµ Higher-for-longer rates favour the dollar. ð Stocks face pressure from tighter financial conditions. ð¥ Gold is caught between high rates and geopolitical safe-haven demand.
The marketâs question is shifting from âIs inflation falling?â to âHow much more tightening will the Fed need?â
Stablecoin supply is often treated as a shortcut for measuring fresh money entering crypto. This weekâs data shows why that can be misleading.
Circle reports that over the latest seven days $8.6bn USDC was issued, while $10.1bn was redeemed. The result? USDC circulation actually fell by $1.5bn to $72.7bn.
And even when net supply rises, those tokens do not automatically become Bitcoin buyers. Stablecoins can be used for payments, cross-border transfers, collateral, DeFi, institutional settlement or simply held in wallets.
The chain traders should watch is: issuance â net circulation â destination â exchange/OTC flows â actual BTCÂ buying.
ð± Stablecoins move closer to everyday payments
Samsung announced that USDC functionality is coming to Samsung Wallet in the US in the last week of October. Eligible users will be able to send USDC to compatible crypto wallets and eligible bank accounts in 60+ countries.
That is a major adoption story, but primarily a payments story, not automatically new demand for Bitcoin.
ðïž Regulation is tightening too
The Financial Stability Board put global stablecoins on the G20 agenda this week, highlighting cross-border vulnerabilities, data gaps and the need for stronger international cooperation.
ðªðº ESMA also told EU regulators that MiCA-authorised crypto firms should stop offering services involving non-compliant stablecoins, with existing exposures to be addressed within three months.
â¿ Bitcoin
Bitcoin was trading around $83,700-$84,000 on October 14, while markets continued to digest the Fed outlook. New York Fed President John Williams said another rate increase could still be appropriate this year, but he currently sees no need for further hikes in 2027.
ð€ Fun fact: Samsung says its new stablecoin functionality will be available across 82 million eligible Galaxy devices in the US. Users will be able to access USDC directly through Samsung Wallet without installing a separate crypto app.
ð¡ Bottom line: Stablecoins can represent potential crypto liquidity, but new tokens â new money â new Bitcoin buyers.
ð Geopolitics and oil ð¢ïž Oil is sliding as Trump announced a deal for Russia to supply diesel, and the US Treasury waived sanctions on Russian diesel through April 2027. Brent is trading near $103.9 (â0.8%) and WTI near $90.7 (â1.3%). ð Houthi strikes on Saudi Arabia, including Riyadhâs airport, and the uncertainty around the Iran war keep the supply risk alive.
ðºðž Wall Street and the Fed ð US stocks closed Friday higher: Dow +0.83%, S&P 500 +0.59% (7,811.5), Nasdaq +0.64%. The S&P 500 is just below its record high after a strong week. ðµ The 10-year Treasury yield finished near 5.25%, close to a 24-year high. ð Michigan consumer sentiment fell to 46.3, and 1-year inflation expectations rose to 4.7%.
ð Asian markets ð¯ðµ Tokyo is closed for a holiday (Nikkei closed Friday at 69,031). ðð° Hang Seng +0.07% (24,230) ðšð³ Shanghai Composite â0.16% (3,808) ð°ð· KOSPI â3.38% (6,402)âââtech sell-off, foreign selling and Middle East worries ðŠðº ASX 200 +0.76% (8,783) ð¹ðŒ Taiex +0.16% ð®ð³ Nifty 50 â0.48%
ð± Forex, metals and crypto ð¶ EUR/USD: 1.1202 ðŽ USD/JPY: 158.35 ð· GBP/USD: 1.3238 ð¥ Gold: ~$4,183 per oz (â0.27%) after three straight sessions of gains â¿ Bitcoin: ~$84,100 (+1.2%) Î Ethereum: ~$2,562 (+2.3%)
ð Today and this week ð¹ Today: Cleveland Fedâs Hammack speaks. US bond markets are closed for Columbus Day, while stocks trade. ð¹ Tuesday: JPMorgan, Citigroup and Wells Fargo report earnings. ð¹ Wednesday: US September CPIâââthe key inflation test for the Fed. ð¹ Thursday: UK August GDP. ð¹ This week: China trade and inflation data.
The dollar enters a crucial week near an 18-month high. ð¥ Now comes a three-stage inflation test: CPI on Wednesday, PPI on Thursday and import/export prices on Friday, all at 08:30 ET.
Why does the sequence matter? CPI measures pressure on consumers, PPI looks further up the supply chain, while import prices can show how currency moves are passing through into the cost of foreign goods. ðŠðµ
The key is not to predict the numbers, but to watch whether they tell the same story.
ð¥ Hotter inflation: higher yields and stronger Fed tightening expectations could give the dollar another push.
âïž Softer inflation: pressure on yields could ease, opening the door to a dollar correction and some relief for EUR/USD and gold.
ð¶ EUR/USD: around 1.1210 after five straight weekly declines. Franceâs fiscal and political uncertainty adds another headwind for the euro. A hot US inflation sequence could expose recent lows, while softer data may fuel a rebound.
ð¯ðµ USD/JPY: around 158.24. US yields remain the key driver, but at these levels the threat of Japanese intervention also deserves attention. Rising yields favour the upside, while falling yields could give the yen room to recover.
ð¥ Gold: around $4,185-$4,200. The metal faces a tug-of-war between geopolitical risk and a strong dollar. Watch real yields closely: softer inflation and lower yields could support gold, while renewed rate fears would be a challenge.
ð¢ïž Oil: Brent is near $103.3 after sliding on hopes of increased Russian supply. But Houthi attacks, tanker incidents and the wider Middle East conflict keep a substantial geopolitical risk premium alive. Another oil surge could feed straight back into the inflation debate.
â ïž One extra trap: thin Monday liquidity. Japanese markets are closed for a holiday, while the US has a partial holiday. Lower participation can exaggerate FX moves, so check trading hours and liquidity before treating an early breakout as a new trend.
ð¯ This weekâs question: will consumer prices, producer prices and import costs confirm one inflation story, or send conflicting signals?
Three reports. Four markets. One very sensitive dollar. ð
ð Geopolitics and Oil Houthi attacks on Saudi Arabia and tanker incidents in Hormuz keep supply risks high. Brent is holding above $106 and WTI is near $95. ð¢ïž
ðºðž Wall Street Mixed bank earnings and a chip sell-off left US stocks flat to lower. ð Dow 51,670 (â0.35%) ð S&P 500 7,805 (â0.02%) ð Nasdaq 27,204 (â0.15%) Chip stocks fell sharply, with the Philadelphia Semiconductor Index down 2.7%.
ð Asian Markets Asia is stabilizing after Tuesdayâs AI and chip rout, led by a tech rebound in Tokyo and Seoul. ð¯ðµ Nikkei 225: up 0.4%, near 68,000 ð°ð· Kospi: up about 1â2% after Tuesdayâs 5.5% drop ðð° Hang Seng: flat, near 24,330 ðšð³ Shanghai Composite: flat, near 3,800 ðšð³ Chinaâs September data was mixed: Exports +36.3% y/y (forecast +25.5%) Imports +31% CPI 0.9% (below the 1% forecast) PPI 5.0% (forecast 4.5%), the fastest pace since June 2022 ðžð¬ The MAS left policy unchanged, surprising analysts who expected tightening.
ðµ Forex ð² DXY is near 102.3, just below Mondayâs 18-month high. ð¶ EUR/USD is near 1.1210, close to its weakest level in 17 months. Lagardeâs comments were read as hawkish. ðŽ USD/JPY is near 158.4, with the yen pressured by a cautious BoJ outlook.
ð¥ Gold: around $4,168, holding support near $4,150. â¿ Crypto: Bitcoin is near $83,900 and Ethereum near $2,520. ð US 10-year yield: about 5.22%.
ð Todayâs Key Events (GMT) ð¥ 12:30âââUS CPI for September. Forecast: 3.6% y/y (prior 3.4%) and +0.6% m/m, with core +0.2% m/m. ð£ïž 09:40âââFedâs Bowman speaks. Speeches from Lagarde, Bailey and Barkin also due. ð 18:00âââFed Beige Book. Markets price about a 22% chance of a Fed hike in October. A hot core reading could lift yields and the dollar and pressure gold. A soft print could support risk assets. â¡
Right now, EUR/USD is near 1.123, pressured partly by French fiscal and political uncertainty. USD/JPY is around 158.3, where Japanese policy and inflation have their own influence. Meanwhile, the Indian rupee is near 96.6 per dollar, affected by oil prices and RBI interventionâââyet INR has zero weight in DXY. ð
ð¢ïž Add Iran, Hormuz risks and volatile oil prices, and the differences can become even larger. Oil importers, exporters and safe-haven currencies can react very differently to the same headline.
â ïž DXY up â every USD pair up â ïž DXY down â global dollar demand down
DXY is one lens on the dollar, not a universal USD thermometer. ð¡ïž
ð¯ When trading a USD pair, analyse both sides of the pair, not just DXY.
ð Macro & Geopolitics ð¢ïž Oil is the key driver. Brent is down 1.2% at about $103 (WTI near $90.5) after Trump spoke of âproductive discussionsâ with Iran, which eased inflation fears. ðŠ Rate worries remain. Markets price roughly 80% odds of a Fed hike in December.
ðœ Wall Street (Thursday close) ð S&P 500 â0.47% to 7,765 and Nasdaq â1.25% to 27,193, both down for a second day, after a report that OpenAI revenue is below estimates. ð Dow +0.10% to 51,232. ð US futures are rebounding: S&P 500 +0.3%, Nasdaq 100 +0.5%.
ð Asian Markets ð¯ðµ Nikkei 225: flat near 69,016 after a two-day slide. ðð° Hang Seng: +1.2% to about 24,062, rebounding on stronger US futures and lower oil. ðšð³ Shanghai Composite: â0.7% to 3,786, while Shenzhen Component is down 2.1% on AI-spending jitters. ðŠðº ASX 200: +0.6% ð®ð³ Nifty 50: +1.2% ð°ð· South Korea is closed for Hangul Day.
ð¢ïž Oil and geopolitics: Brent is up more than 2% to about $102.5, with WTI near $90. Reports say the Pentagon has been told to prepare for a possible resumption of major combat operations against Iran. Hormuz shipping risks are also in focus.
ðŠ Fed and yields: The September FOMC minutes showed most officials expect another hike before year-end. Markets price about a 19% chance for October and about 80% for December. The US 10-year yield touched 5.36%, its highest since 2002, then eased to around 5.3%.
ðºðž Wall Street: US stocks pulled back from record highs. ð Dow: 51,179.87 (down 0.66%) ð S&P 500: 7,801.77 (down 0.22%) ð Nasdaq: 27,538.69 (down 0.22%)
ð Asian markets: Most of the region is in the red as oil and yields weigh on sentiment. ð¯ðµ Nikkei 225 is down about 1.1%, with a second straight session of losses. ð°ð· KOSPI is down about 2%, its third straight decline. Samsung slipped despite forecasting record Q3 profit. ðð° Hang Seng is down roughly 0.2â0.9%, with tech and biotech under pressure. ðšð³ Shanghai is little changed as mainland markets reopened after the Golden Week holiday. ð®ð³ The RBI raised its repo rate by 25 bp to 5.50%, its first hike since February 2023. Sensex and Nifty are down about 0.4%.
ð± Markets snapshot: ð¶ EUR/USD: about 1.1200, near 17-month lows ðµ Dollar Index: about 102.3 ð¥ Gold: about $4,130, near its lowest since early August â¿ Bitcoin: about $83,400, below $85,000
ð Energy-driven inflation is the story: Strait of Hormuz disruptions pushed August Eurozone inflation to 3.3%, and the ECB is set to hike rates 25bp today (decision 15:15 GMT+3). US PPI (15:30 GMT+3) and existing home sales (17:00 GMT+3) round out a heavy data day.
ðð« ð¶ EUR/USD: ~1.1635âââcapped near 1.1700 ahead of the ECBâs expected hike to 2.5% (deposit rate) ðŠ ð· GBP/USD: above 1.3550âââBoE hike bets and 5%+ gilt yields keep sterling supported ðŽ USD/JPY: stabilizing above 153.50âââyen near a 7-month high on hawkish BoJ repricing
ððŒðºðºðŒð±ð¶ðð¶ð²ð ð¥ Gold: $4,409/oz, +0.25%âââholding near record highs into US inflation data ð¢ïž Brent: ~$101/bbl, -0.2%âââminor pullback, still elevated on Hormuz risk
ð ð§ðŒð±ð®ðâð ððŒð°ðð: ECB decision & press conference, US PPI (y/y forecast 5.3% vs. 4.7% prior), US existing home salesâââexpect volatility in EUR, oil and gold through the European afternoon.
ð Macro: bond yields vs. tech US 10-year yield hit 5.35%, a 24-year high, and settled near 5.31%. The 30-year reached 5.67%. Even so, weak US jobs data (September payrolls +29K vs. ~90K expected, unemployment 4.2%) cut Fed rate-hike bets, and markets now price about a 78% chance of a hold this month. ðŠ
ðºðž Wall Street ð S&P 500: 7,773.99 (+0.66%) ð Dow: 51,267.90 (+0.18%) ð Nasdaq: 27,477.31 (+1.05%), a record close
ð Asian markets ð¯ðµ Nikkei 225: 70,576 (+0.90%), led by tech and AI stocks ðð° Hang Seng: 24,210 (+0.71%) ðŠðº ASX 200: 8,733.90 (+0.55%), a third straight gain ðšð³ Mainland China: closed for the National Day holiday
ð± Markets ð¶ EUR/USD: 1.1218 (â0.04%), near a 17-month low on eurozone inflation at 3.8% and French and Spanish political risk ð¥ Gold: $4,122 (â0.44%), pressured by the strong dollar and high yields ð¢ Brent: $100.87 (+0.55%) â¿ Bitcoin: ~$86K
ð Today ð€ Fed speakers Williams, Bowman and Logan ð US trade balance (August) and 3-year Treasury auction ð Tomorrow: FOMC minutes
Opening a second trading account can look like diversification. But if both accounts are long gold, your market risk hasnât suddenly been cut in half. ð
But thereâs a catch: each account has its own margin, funding and risk. $10,000 sitting with Broker B wonât rescue a margin problem at Broker A. â ïž
So when does using more than one broker actually make senseâââand when are you simply creating more accounts, more costs and more complexity?
ð Read the NordFX guide and find out what to compare before opening a second account:
Todayâs US CPI could deliver exactly the kind of signal markets hate: ðŽðŒðŒð± ð»ð²ðð ð®ð»ð± ð¯ð®ð± ð»ð²ðð ð®ð ððµð² ðð®ðºð² ðð¶ðºð².
ð Economists expect August headline CPI to rise ð¬.ð°% ðº/ðº ð®ð»ð± ð¯.ð°% ð/ð.
Core CPI, however, is forecast at only ð¬.ð®% ðº/ðº ð®ð»ð± ð®.ð°% ð/ð, down from 2.5% in July.
Brent has surged back above $108/bbl, while yesterdayâs US PPI showed producer prices rising ð¬.ð°% in August, with energy costs jumping ð°.ð®%.
At the same time, the US 10-year Treasury yield has climbed to around ð°.ðµð³%, putting the psychologically important ð±% level within reach.
So todayâs real question is not simply whether CPI beats or misses expectations.
ðŠ The Federal Reserve meets on ðð±-ðð² ðŠð²ðœðð²ðºð¯ð²ð¿, and markets currently price roughly a ð³ð¬% chance of a 25 bp rate hike.
Three scenarios stand out:
ð¢ ððŒð¿ð² ðð£ð ð®ð¿ðŒðð»ð± ð¬.ð®% ðŒð¿ ð¹ðŒðð²ð¿ A softer reading could reduce expectations of an immediate hike. Treasury yields and the dollar could retreat, while gold and equities may get some relief.
ð¡ ððŒð¿ð² ðð£ð ð»ð²ð®ð¿ ð¬.ð®%, ð¯ðð ðµð²ð®ð±ð¹ð¶ð»ð² ð¶ð»ð³ð¹ð®ðð¶ðŒð» ð¿ð²ðºð®ð¶ð»ð ððð¿ðŒð»ðŽ The market may quickly look past todayâs number and focus instead on oil, energy inflation and what comes next.
ðŽ ððŒð¿ð² ðð£ð ð®ð¿ðŒðð»ð± ð¬.ð°% ðŒð¿ ðµð¶ðŽðµð²ð¿ That would be much harder for the Fed to dismiss. Rate-hike expectations could rise further, the 10-year yield could test 5%, and pressure on gold and risk assets could intensify.
Three central banks, three different stories, one trade in the crossfire: EUR/USD just hit a four-week low ð±ð
ðªðº ECB already moved on September 10, lifting the deposit rate to 2.50% (refi 2.65%) to fight energy driven inflation. President Lagarde gave almost no hints about what comes next, leaving the euro without support.
ðºðž Fed decides September 16. Hot August CPI (3.4% YoY, core up 0.3% MoM) pushed hike odds above 60% for a 25bp move from 3.50â3.75%. Traders are betting the dollar keeps the upper hand.
ð¯ðµ BoJ meets September 17â18. Producer prices are up 7.6% YoY, and a hike to 1.25%, a 31-year high, looks increasingly likely. The yen has already gained 3.56% this month as carry trades unwind.
â¡ Same direction, opposite motives: Europe battling energy costs, the US reacting to sticky inflation, Japan finally breaking free of ultra-low rates.
ð EUR/USD is at 1.1565 and sliding, USD/JPY is at 153.74 and swinging hard. With three live decisions in five days, this is a textbook volatility week ð¥
ðŠ The Fed delivered its first rate hike since 2023 to 3.75%â4.00%, and markets now price roughly a 51% chance of another one on October 28. ð¢ïž Saudi pipeline repairs pulled Brent back from $108 to $103, while Bitcoin rebounded above $80,000 ð
Inside the forecast ð ð¶ EUR/USDâââbearish below 1.1560 ð¢ïž Brentâââconsolidation with a downside tilt ð¥ Gold and ð¥ Silverââârebound from Wednesdayâs lows â¿ Bitcoin and Î Ethereumââârelief rally, needs ETF inflows to last ð¯ Key levels and baseline view for every instrument
Key events this week ð ðž Wednesday: flash PMIs ðž Thursday: SNB decision and TrumpâXi meeting ðž Friday: US PCE inflation
ð± NordFX Education: Nominal vs Real Exchange RatesâââWhy a Cheaper Currency Is Not Always More Competitive
Your screen shows one price. Your competitiveness depends on another. ð¯
ð The basket test (illustrative numbers) Take a basket of goods that costs $100 in the US and 10,000 XYZ at home. At 100 XYZ per USD, the two baskets are equal. âïž
Then XYZ weakens 5% to 105 per USD. Exporters celebrate. ð But home prices rose 8% while US prices rose 2%:
ð Home basket: 10,800 XYZ ÷ 105 = $102.86
ðºðž US basket: $102.00
The nominal rate fell 5%, yet the home basket is now slightly pricier than the US one. The cheaper currency bought no real advantage. That gap is the real exchange rate. Inflation ate the discount. ð¥
ð Nominal: the quoted price, such as USD/JPY 157.88. ð Real: the nominal rate adjusted for relative prices. A real effective rate (REER) weights a whole basket of trading partners.
ð¯ðµ The yen is the live case USD/JPY sits near 158, but the yenâs REER was 65.93 in May (2020 = 100). In December 1986 it was 141.77, so the yen has lost more than half its inflation-adjusted value. Tokyo is uneasy. Finance Minister Katayama said an undervalued yen âgenerally poses problemsâ. And the BoJâs rate is only 1.25%, against elevated US yields. ðŠ
ð Why this matters right now
ð¢ïž Brent is above $100. A weaker currency makes imported energy more expensive.
ð The US 10-year yield is around 5.2%, and the dollar index is near its 17-month high of about 102.
ð¶ EUR/USD is near 1.125, close to this yearâs low.
âïž Iran and Hormuz tensions and tariff headlines keep inflation differentials in play.
ð¡ Takeaways
Compare inflation, not only the chart.
Imported costs can cancel a weak-currency gain.
Policy warnings can reverse a trend fast.
Watch todayâs US jobs data for dollar volatility. â¡
Cheap is a quote. Competitive is a calculation. ð§
ð Macro & Geopolitics ð¢ïž USâIran tensions are rising. Washington is reportedly planning a bigger military presence in the Middle East, and China has halted fuel exports. Brent holds above $102 per barrel. ð The US 10-year yield hit 5.34%, its highest since 2002, then eased to about 5.25%. Inflation fears and Fed hike bets remain in play.
ðºðž Todayâs Big Event: US Jobs Report (15:30 GMT+3) ðŒ NFP is forecast at about +89K, with unemployment steady at 4.1%. Wages and the jobless rate could sway Fed expectations more than the headline. â¡
ð Asian Markets ðð° Hang Seng: â3% to an 11-week low near 23,900, with tech stocks down about 2.5% ð ð¯ðµ Nikkei 225: about â1%, near 68,200, after Tokyo core CPI accelerated to 2.7% ðŠðº ASX 200: +0.5% to about 8,660 ð°ð· KOSPI: +0.3% ðšð³ Mainland China is closed for National Day until October 7
ðœ Wall Street (Thursday close) S&P 500 +0.3% to 7,674 | Nasdaq +0.25% to 26,930 | Dow flat at 50,912. Micronâs strong results lifted chip stocks. ð€
ð Macro & Geopolitics ð¥ USâIran talks over reopening the Strait of Hormuz keep oil swinging. Brent is down 1.4% to about $96.7, WTI at $88.9. ð¢ïž ðŠ Core PCE rose just 0.2% m/m in August (forecast 0.3%), and the annual rate eased to 3.0%. Odds of an October Fed hike are around 38%. â â ïž The US 10-year yield is still elevated at 5.28%, close to multi-decade highs.
ð Asian Markets ð¯ðµ Nikkei 225: +3.1% to 68,840 on chip and AI stocks. The Tankan large manufacturers index came in at 24 (forecast 25, previous 22) ð ð°ð· KOSPI: +1.6% to 6,946. South Koreaâs September exports jumped 83.5% y/y ð ðŠðº ASX 200: â1.8% to 8,635. Australiaâs manufacturing PMI slipped to 49.6 ð» ð®ð³ Nifty 50: â0.3% to 22,563 ðšð³ðð° China and Hong Kong are closed for National Day. Last closes: Hang Seng 24,613 (+0.4%) and Shanghai Composite 3,842 (+0.3%) ð®
ðœ Wall Street (Wednesday) S&P 500 â0.25% to 7,652 | Dow â0.86% to 50,906 | Nasdaq +0.24% to 26,861 ð
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