Market Overview - Page 10

AUD rises amid RBA's hawkish stance, while US policy uncertainty and shutdown fears weaken USD, sustaining AUD's upward trend.

US and OPEC Crude oil producers ramp up output, increasing competition for market share; prices face downward pressure despite stocks and commodities growth.

The US jobs report for September is becoming the key event of the week to October 3rd

Gold is trading near record highs, while price pullbacks are attracting new buyers

The US dollar has recovered thanks to the Fed chair's reluctance to signal a rate cut in October, while US stocks overheated in 19 out of 20 valuations

The SNB kept its key rate at 0.0% but ready to intervene as CHF continue its long-term uptrend.

The euro weakens as US dollar strengthens, driven by Germany's slowdown and robust US growth, with further dollar gains expected.

The Fed's easing, contrary to the news, boosted the dollar, driving NZD, CAD, and JPY to multi-month lows, while the pound, euro, and franc reversed from extremes.

Eurozone PMI beats forecasts, led by German services, but improvements are too slight for the euro to break key resistance levels for EURUSD and EURGBP.

Gold’s surge to record highs signals strong demand amid global tensions, but rapid growth raises correction risks. Investors are advised to exercise caution.

Gold set records in 2025, up 40% YTD, driven by central bank buying and a weak dollar. However, recent Fed moves have led to a gold pullback as investors buy stocks and dollars.

The key economic events for the fourth week of autumn will be the release of data on business activity in various countries around the world and the publication of data on the personal consumption expenditure index, the Fed’s preferred inflation.