Market News
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Swiss Franc: Safe haven status versus funding role – Rabobank
Rabobank’s Senior FX Strategist Jane Foley highlights Switzerland’s strong current account and budget positions, credible central bank and governance, and high liquidity as underpinning the Swiss Franc’s safe haven status.
Turkey Treasury Cash Balance below expectations (0B) in September: Actual (-467.2B)
Turkey Treasury Cash Balance below expectations (0B) in September: Actual (-467.2B)
United States EIA Heating Oil Stocks Change came in at 0.668M, above forecasts (0M) in October 2
United States EIA Heating Oil Stocks Change came in at 0.668M, above forecasts (0M) in October 2
United States EIA Gasoline Stocks Change above forecasts (0M) in October 2: Actual (0.382M)
United States EIA Gasoline Stocks Change above forecasts (0M) in October 2: Actual (0.382M)
Gold: Dip buying case builds into 2027 – TD Securities
TD Securities’ Ryan McKay and Bart Melek note heavy CTA (Commodity Trading Advisors) selling across Precious Metals, with Gold under pressure from surging real rates and a stronger US Dollar (USD).
United States EIA Distillate Stocks Change registered at -0.042M, below expectations (0M) in October 2
United States EIA Distillate Stocks Change registered at -0.042M, below expectations (0M) in October 2
United States EIA Crude Oil Stocks Change below forecasts (1.9M) in October 2: Actual (-3.186M)
United States EIA Crude Oil Stocks Change below forecasts (1.9M) in October 2: Actual (-3.186M)
Australian Dollar declines as RBA hike bets fade, US yields climb ahead Fed Minutes
AUD/USD falls 0.44% on Wednesday and trades around 0.6950 at the time of writing, snapping a three-day winning streak.
US Dollar: Energy risks support USD strength – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is stronger against major currencies, with the Euro (EUR) lagging as French and Italian bonds lead a renewed global bond sell-off.
Poland NBP Base rate meets forecasts (3.75%)
Poland NBP Base rate meets forecasts (3.75%)
Canadian Dollar: Political risks weigh against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD around 1.4227 with the Canadian Dollar (CAD) flat versus the US Dollar (USD) but outperforming most G10 peers. CAD retains much of Tuesday’s 0.4% gain, helped by a stronger August trade balance.
Fed Minutes: Officials saw inflation risks worsening before September hike
All participants at the Federal Reserve's (Fed) September 15–16 meeting supported the 25-basis-point rate increase, while most judged that another hike would probably be appropriate by the end of the year.
Canadian Dollar loses ground ahead of Fed Minutes
USD/CAD rebounds sharply on Wednesday, rising nearly 0.45% as the US Dollar (USD) remains firmly bid across the board, supported by surging US Treasury yields. Attention now turns to the minutes of the Federal Reserve’s (Fed) September monetary policy meeting, due at 18:00 GMT.