The AUD/JPY cross trades on a negative note near 99.45 during the early European session on Tuesday. The Japanese Yen (JPY) recovers slightly against the Australian Dollar (AUD) after reaching its lowest since November 2024.
Goldman Sachs lifted Nvidia’s price target to $210 and reiterated its Buy rating, citing robust earnings and strategic AI investments such as its OpenAI partnership. While circular revenue could modestly affect multiples, it’s expected to stay below 15% of 2027 revenue, leaving room for sustained growth.
Tesla’s stock rose after Elon Musk teased a possible October 7 unveiling on X.com, sparking speculation about a lower-cost Model Y. Investors see the pared-down model as critical to boosting sales amid fading excitement around Tesla’s ageing lineup and growing EV competition.
With Japan facing labour shortages, inflation, and a weak yen, Deutsche now sees the next BoJ rate hike in January 2026 and two more through early 2027, reaching 1.25%.
ING expects the RBNZ to cut rates by 25bp on October 8 but warns markets are jumping ahead by pricing in two more cuts without seeing Q3 inflation data. The bank said easing bets have likely capped near-term NZD downside as the RBNZ waits for clearer inflation signals.
The New Zealand Dollar advances on Monday and trades near its daily close at around 0.5840 as Tuesday’s Asian session begins. Yesterday, the pair gained 0.20% but key resistance lies overhead with the 200-day Simple Moving Average (SMA) at 0.5848.
EUR/USD retreats during the North American session sponsored by political turmoil in France and US Dollar strength, amid the sixth day of government shutdown in the US. The pair trades at 1.1714, down 0.24%.
Gold price rallies to a new record high past the $3,900 figure on Monday, hitting $3,970 as the US government continues its shutdown, while investors are pricing in another rate cut by the Federal Reserve (Fed) at the upcoming October 29 meeting. XAU/USD trades at $3,952, up 1.73%, at the time of w
The Pound Sterling (GBP) remains flat during the North American session on Monday as the US government shutdown reaches its sixth day, which has kept financial markets trading blind due to the lack of economic data. GBP/USD trades at around 1.3474, virtually unchanged.
Gold remains on fire. The high price for gold has reached $3958.83 just $42 from the $4K level. Price is breaking above a topside trend line on the hourly chart.
The USDCAD bounces off the 100-hour MA at 1.3944 keeping the buyers in control. The price is back above the 200-day MA at 1.39602. Buyers making a play again.
The USDCHF is higher but does find sellers aheard of the 0.8000 level and near the high of a swing area at 0.7994. 100 and 200 hour MAs at 0.7967 area is a key support/barometer for buyers and sellers in the NA session.
Gold (XAU/USD) extends its historic run beyond $3,900 on Monday, notching one record high after another as the prolonged United States (US) government shutdown, dovish Federal Reserve (Fed) bets, and renewed political jitters in Europe keep safe-haven demand elevated.
The Euro (EUR) is weak, down 0.7% against the US Dollar (USD) and underperforming all of the G10 currencies with the exception of Japanese Yen (JPY), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Canadian Dollar (CAD) is trading flat from Friday’s close and extending its consolidation around the five month low it reached on Thursday, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Silver (XAG/USD) appreciates for the second consecutive day on Monday, to reach fresh 4-year highs at $48.75, with downside attempts contained so far above last week's highs at $48.30.
US Dollar (USD) could continue to rise toward 7.1480; a sustained rise above this level is unlikely. In the longer run, upward momentum is starting to build; for a continued advance, USD must first break clearly above 7.1480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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