The USD is lower to start the US session. In the video above I take a look at the 3 major currency pairs - the EURUSD, the USDJPY and the GBPUSD. What is driving the technicals for those three major currency pairs. YesterdayOn inflation and tariffs:Powell warned that the slow pass-through of tariffs could start to resemble persistent inflation, creating a challenge for policy calibration.He emphasized that while inflation has moderated, the Fed must avoid easing too quickly, which could leave “the inflation job unfinished.”On the labor market and employmentThe labor market shows significant downside risks, with clear signs of softening since July.Powell noted the breakeven rate of job growth (the pace needed to keep unemployment stable) has fallen substantially, possibly even turning negative, given a ±50K margin of error.Despite this, the unemployment rate’s stability is remarkable, reflecting labor-market resilience even amid slower hiring.On the Policy approach. As risks evolve, Powell said the Fed’s stance needs to move toward a more neutral position, balancing inflation and employment mandates.He underscored that policy operates with long and variable lags, and recent research shows these lags are lengthening for both inflation and jobs.The comments were dovish enough to keep the expectations for a rate cut in November and December intact. The earnings today continued to show the financials doing well. Morgna Stanley and Bank of America, both beat expectations on the top and bottom lines Abbott Laboratories met expectations. Below are the results. Abbott Laboratories (ABT) Q3 2025 (USD): EPS $1.30 (MET; exp. $1.30), Revenue $11.4B (MET; exp. $11.42B). FY adj. EPS view $5.12–$5.18 (exp. $5.15).Morgan Stanley (MS) Q3 2025 (USD): EPS $2.80 (BEAT; exp. $2.09), Revenue $18.22B (BEAT; exp. $16.71B).Bank of America (BAC) Q3 2025 (USD): EPS $1.06 (BEAT; exp. $0.95), Revenue $28.1B (BEAT; exp. $27.38B).The major US indices are higher after a mixed session yesterday saw the Dow higher but the S&P and Nasdaq moving lower (with the Nasdaq the biggest loser at -0.76%). A snapshot of major indices shows:Dow industrial average up 239.54 pointsS&P index up 44.11 pointsNASDAQ index up 210.43 pointsThe US debt market is little changed to start the US session:2-year yield 3.478%, -0 point basis points5 year yield 3.602% unchanged10 year yield 4.016%, -0 point basis points30 year yield 4.613%, -1.0 basis pointsToday, we do get and economic releases in the form of the NY Manufacturing Index for October. The expectations is for -1.4 versus -8.7 last month.We will also get the Canada manufacturing sales data for August with expectations of -1.5 versus +2.5 last month. The wholesale trade for Canada is expected at -1.3 versus 1.2 last month. This article was written by Greg Michalowski at investinglive.com.

Headlines:After a back and forth start to the week, the dollar now starts to lose momentumGold Technical Analysis: Lack of bearish drivers keeps the bullish momentum intactBofA, Morgan Stanley earnings beat estimates in Q3EU trade commissioner says to meet with China's commerce minister next weekChina's Lin: The US and China should engage in talksECB's Dolenc: No reason to change rates in the coming monthsSpain September final CPI +3.0% vs +2.9% y/y prelimFrance September final CPI +1.2% vs +1.2% y/y prelimEurozone August industrial production -1.2% vs -1.6% m/m expectedUS MBA mortgage applications w.e. 10 October -1.8% vs -4.7% priorChina September M2 money supply +8.4% vs +8.5% y/y expectedMarkets:AUD leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.6%US 10-year yields down 0.7 bps to 4.014%Gold up 1.5% to $4,202.09WTI crude up 0.2% to $58.83Bitcoin down 0.8% to $112,166It was a decent session in terms of market action, as the focus and attention continues to stay on what will become of US-China trade tensions for the most part.The dollar is finding itself in a weaker spot even as risk appetite picks back up, with the bond market holding at a critical juncture. After some pushing and pulling this week, the dollar is lower today and is starting to see some shifts in the near-term price bias. That comes as 10-year Treasury yields once again flirts with the 4% mark this week.EUR/USD is up 0.2% to 1.1627 and GBP/USD up 0.3% to 1.3355 but aren't really pushing the upside agenda all too much on the session. USD/JPY is down 0.3% to 151.40 but dipped to just under 151.00 briefly in European morning trade earlier. Meanwhile, AUD/USD is trading back up above 0.6500 - sitting just shy of its 100-day moving average of 0.6532 on the day.In the equities space, the risk appetite is returning with stocks looking for more solid gains today. In Europe, French stocks are leading the charge amid better political developments back home while also buoyed by LVMH beating earnings estimates. The latter is helping to prop up luxury stocks, which are a key component of the CAC 40 index.As for US futures, tech shares are seen bouncing back and will join financials today in search of further gains. Q3 earnings beats from BofA and Morgan Stanley in pre-market is helping with the mood at least.But once again, one of the standout movers is in the commodities space as we see gold jump up to break the $4,200 mark for the first time. Price action remains volatile with the precious metal continuing to weave in and out of the figure level for now. Meanwhile, silver is also trading up over 2% to try and reclaim the $53 mark on the day. It's the same old story since September until now.Amid a lack of major economic releases, Fedspeak will be the thing to watch once again in US trading later alongside Trump headlines as usual. This article was written by Justin Low at investinglive.com.

BofA reports an EPS of $1.06, beating estimates of $0.94, as profit also rises on dealmaking strength. Net interest income (NII) was $15.2 billion on the quarter and that also beat on estimates and is up 9% year-on-year. Meanwhile, net income coming in at $8.5 and that's a significant bump from $6.9 billion in the same quarter last year.As for Morgan Stanley, the bank reports EPS of $2.80 and that's a whopping beat of estimates of $2.10. It's pretty much beats across the board as the bank's investment arm performed strongly in Q3. Equities sales and trading revenue were a beat at $4.12 billion, above estimates of $3.41 billion. FICC sales and trading revenue clocked in at $2.11 billion, just above estimates of $2.07 billion. And wealth management net revenue was seen at $8.23 billion, above estimates of $7.78 billion. Overall revenue came in at $18.22 billion in Q3, well above estimates of $16.34 billion.This will keep the optimism flowing in equities as we look to the day ahead. S&P 500 futures are up 0.6%, Dow futures up 0.5%, and Nasdaq futures up 0.8% currently. Russell 2000 futures are also seen up 0.8% after the over 1% gains yesterday. This article was written by Justin Low at investinglive.com.

Fundamental OverviewThe Nasdaq continues to recover the losses experienced on Friday following Trump’s threat of increasing tariffs by 100% on China in response to the recent Chinese imposition of export controls on rare earth minerals.Over the weekend, we got more soothing words from Trump and other US officials that eventually led to a big upside gap at the open. The gap was then filled following a bit more aggressive comments from US Treasury Secretary Bessent and some Chinese countermeasures on port fees. Yesterday, US Trade Representative Greer repeated mostly the same stuff that we’ve already heard over the weekend but added two important comments as he mentioned that they are watching the stock and bond markets and that they want to make sure the market responds to appropriate info. This sounds like they don't want the market to think this is going to be another April. They want the market to keep expecting a de-escalation, which has indeed been the case since the weekend. Even Trump’s late post threatening a termination of cooking oil business with China sounded like a very weak move. This suggests a limited pain threshold by the US administration which shouldn't be surprising given the overstretched positioning in the stock markets. The Friday's selloff was so aggressive for this reason. So, if things go south between now and November 1, then we could indeed have another April-like selloff. For now, the downside is limited by the de-escalatory expectations.Nasdaq Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Nasdaq erased most of the Friday’s losses with the price now trading near the key 25,034 level. This is where we can expect the sellers to step in with a defined risk above the level to position for another drop into the major trendline. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into a new all-time high. Nasdaq Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see more clearly the resistance zone around the 25,000 level and the recent choppy price action. There’s not much else we can glean from this timeframe, so we need to zoom in to see some more details.Nasdaq Technical Analysis – 1 hour TimeframeOn the 1 hour chart, if we get a pullback from the resistance, we can expect the buyers to step in around the most recent swing low at 24,689. In case the price breaks through that level though, we can expect the drop to extend into the lows around the 24,400 level as the sellers will likely pile in more aggressively. The red lines define the average daily range for today.Upcoming CatalystsWe don’t have key data releases this week given the US government shutdown. The Fed speakers continue to repeat the same old stuff. As of now, we know that only the US CPI will be published despite the shutdown, which is scheduled for Friday October 24. At the moment, the markets are solely focused on US-China headlines. This article was written by Giuseppe Dellamotta at investinglive.com.

Market index 317.2 vs 323.1 priorPurchase index 166.0 vs 170.6 priorRefinance index 1168.0 vs 1180.2 prior30-year mortgage rate 6.42% vs 6.43% priorThis is never a market moving release. Mortgage applications are generally inversely correlated to mortgage rates. This article was written by Giuseppe Dellamotta at investinglive.com.

European trade commissioner, Maros Sefcovic, is due to meet with China's commerce minister, Wang Wentao, next week with both sides set to discuss the recent development that saw China step up export controls on rare earth minerals. This just confirms the plans that were mentioned yesterday here.Don't hold your breath in expecting any major breakthroughs though. This is China's ace card in trying to pressure the US and they will definitely use this as a bargaining chip to not allow Trump to dictate the conversation in a possible meeting with Xi Jinping later this month. This article was written by Justin Low at investinglive.com.

Fundamental OverviewThe S&P 500 continues to recover the losses experienced on Friday following Trump’s threat of increasing tariffs by 100% on China in response to the recent Chinese imposition of export controls on rare earth minerals.Over the weekend, we got more soothing words from Trump and other US officials that eventually led to a big upside gap at the open. The gap was then filled following a bit more aggressive comments from US Treasury Secretary Bessent and some Chinese countermeasures on port fees. Yesterday, US Trade Representative Greer repeated mostly the same stuff that we’ve already heard over the weekend but added two important comments as he mentioned that they are watching the stock and bond markets and that they want to make sure the market responds to appropriate info. This sounds like they don't want the market to think this is going to be another April. They want the market to keep expecting a de-escalation, which has indeed been the case since the weekend. Even Trump’s late post threatening a termination of cooking oil business with China sounded like a very weak move. This suggests a limited pain threshold by the US administration which shouldn't be surprising given the overstretched positioning in the stock markets. The Friday's selloff was so aggressive for this reason. So, if things go south between now and November 1, then we could indeed have another April-like selloff. For now, the downside is limited by the de-escalatory expectations.S&P 500 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the S&P 500 pulled all the way back to the major trendline around the 6,542 level and it’s now recovering into the key 6,757 level. This is where we can expect the sellers to step in with a defined risk above the level to position for another drop into the trendline. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into a new all-time high. S&P 500 Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see more clearly the resistance zone around the 6,757 level and the recent choppy price action. There’s not much else we can glean from this timeframe, so we need to zoom in to see some more details.S&P 500 Technical Analysis – 1 hour TimeframeOn the 1 hour chart, if we get a pullback from the resistance, we can expect the buyers to step in around the most recent swing low at 6,666. In case the price breaks through that level though, we can expect the drop to extend into the lows around the 6,600 level as the sellers will likely pile in more aggressively. The red lines define the average daily range for today.Upcoming CatalystsWe don’t have key data releases this week given the US government shutdown. The Fed speakers continue to repeat the same old stuff. As of now, we know that only the US CPI will be published despite the shutdown, which is scheduled for Friday October 24. At the moment, the markets are solely focused on US-China headlines. This article was written by Giuseppe Dellamotta at investinglive.com.

ECB's Dolenc is Slovenia's acting central bank governor. His policy stance is neutral as he previously stated that monetary policy is in a good place and the next move could be either a cut or a hike. This article was written by Giuseppe Dellamotta at investinglive.com.

Japan’s markets unwind Abenomics "2" trades as Komeito exit fuels political uncertaintyConocoPhillips warn oil market sentiment may be too bearish as physical supply stays tightS&P affirm New Zealand ratingsRecap: China deflation eases but persists, longest price decline streak since 1970s reformChina sees Trump’s stock market fixation as leverage in trade standoff (WSJ)China September CPI -0.3% y/y (vs. expected -0.2%)The PBOC cracking 7.1 in its USD/CNY fix has sent the USD lower across the boardPBOC sets USD/ CNY mid-point today at 7.0995 !!! (vs. estimate at 7.1281)JPMorgan’s Dimon says owning gold makes sense in today’s market, could go to US$10,000RBNZ's Conway says a bit 'nerve wracking' with inflation at the top of its target bandEUR4.13bn strikes in EUR/USD circa 1.1600. A likely magnet for EUR/USD in Asia.Standard Chartered sees euro slipping to 1.13 by mid-2026: rate cuts, growth headwindsPBOC is expected to set the USD/CNY reference rate at 7.1281 – Reuters estimateAustralian September Leading Index "nudges back up to just over trend"More from RBA's Hunter: Policy being set on a 1 to 2 year horizon, its foreward lookingRBNZ’s Conway: No new monetary policy tools planned, OCR remains main policy instrumentRBA's Hunter: Inflation is likely to be stronger than forecast in Q3RBNZ’s Conway: Rates of 2.5% at lower end of neutral range, but we are feeling our wayICYMI: Deutsche Bank upgrade Europe vs US, sees 12–16% upside. Stimulus & earnings reboundRBNZ's Conway doesn't expect to use additional monetary policy tools again any time soonGlobal investors crowd into gold as bullish sentiment hits eight-month high — BofA surveyEconomists want Waller as new Fed Chair. But, sry Chris, Trump is just not that into you.US moves to seize $12 billion in bitcoin tied to Cambodia scam kingpin Chen ZhiReserve Bank of New Zealand's Conway says will close the gap between Dec, Feb meetingsinvestingLive Americas FX wrap: Trump saps the momentum with a China tweetPowell remarks confirm October 28 - 29 rate-cut expectations, says JPMorganChina hits first US-linked ship with $1.7m “special port fee” in trade retaliationJapan to ban cryptocurrency insider trading with new rules - Nikkei reportingUS stocks close mixed. Dow rises. Nasdaq fallsMore from Fed's Collins: Inflation continues to be top of mindIt was a session dominated by central bank signals across the region, with New Zealand, Australia, Japan and China all in focus. The net effect was a stronger yen, firmer major FX against the dollar, and growing evidence that policy paths across the region are diverging.New Zealand: Reserve Bank of New Zealand Chief Economist Paul Conway said the official cash rate (2.5%) sits at the lower end of its neutral range but reaffirmed that policymakers remain open to further easing if required. The RBNZ has cut by 300bps since August 2024, including last week’s surprise 50bp move, amid worries over the economy’s fragile state. His remarks reinforced the RBNZ’s willingness to act if growth fails to stabilise.Australia: Reserve Bank of Australia Assistant Governor (Economic) Sarah Hunter said recent data showed Q3 inflation is a touch print hotter than forecast, pointing to a still-tight economy even as job growth slows. Speaking at a Citi event, she flagged sluggish productivity as a structural constraint that lowers Australia’s growth and wage “speed limits.” Her comments tempered expectations of near-term rate cuts, underscoring the RBA’s cautious approach as inflation risks remain sticky.China: The People’s Bank of China set the USD/CNY fixing below 7.10, a stronger-than-expected signal that triggered broad, if restrained, USD selling across G10 and Asia FX. EUR, GBP, and AUD all moved higher on the yuan’s strength. Separately, China’s latest inflation data showed deflation lingering even as it eased marginally. CPI fell 0.3% y/y in September (vs –0.2% expected), while PPI declined 2.3%, marking a third consecutive year of factory-gate deflation. The only bright spot was core CPI, up 1.0% y/y, its highest in 19 months, suggesting some stabilisation in consumer demand.Japan: The yen extended its rebound as political uncertainty deepened. The market’s assumption of a Takaichi-led LDP government—and with it, a continuation of Abenomics—has weakened after Komeito’s exit from the ruling coalition. Jiji reported a parliamentary deadlock over the October 21 vote to select Japan’s next prime minister, keeping political risk elevated.USD/JPY dropped to 151.00 and EUR/JPY to 175.50, as traders unwound weak-yen and long-equity positions. The Nikkei 225, which had reached a record 48,597 earlier this month, has since corrected more than 2,000 points. It rose today. Gold rose. Again. Asia-Pac stocks:Japan (Nikkei 225) +1.13%Hong Kong (Hang Seng) +1.2%Shanghai Composite +0.1%Australia (S&P/ASX 200) +0.74% This article was written by Eamonn Sheridan at investinglive.com.

I posted earlier on the impact of political developments in the yen:Yen is out performing in Asia timeAdding/recapping:Market expectations for Japan to remain under a Liberal Democratic Party (LDP) government led by Sanae Takaichi, an advocate of Abenomics, have faded sharply, prompting traders to unwind weak-yen, long-equity, and bond positions.The yen has strengthened notably, with USD/JPY dropping from 153.29 on Oct. 10—its highest since February—to below 152, while EUR/JPY has fallen from its record 177.92 peak. Other yen crosses have followed suit. Demand for JPY call options has surged this week as investors hedge against a potential non-LDP coalition government.USD/JPY is back at 151.00 as I up[date. EUR/JPY 175.50Japanese equities have also pulled back. The Nikkei 225 slid from a record 48,597 on Oct. 9 to 46,544 earlier this week, a loss of more than 2,000 points, before stabilising slightly midweek.In fixed income, 2-year JGB yields have eased from an Oct. 1 high of 0.965% to around 0.903%, while 10-year yields remain elevated near 1.65%, below this month’s peaks. Analysts say yields could rise again if markets price out expansionary fiscal policy and refocus on Bank of Japan tightening expectations.The shift was triggered by Komeito’s withdrawal from its coalition with the LDP, opening the door for opposition parties to form a new government. Talks are under way among opposition blocs, minor parties, and independents, who together may command enough votes in the Lower House to form an alternative administration. This article was written by Eamonn Sheridan at investinglive.com.

ConocoPhillips CEO said physical oil markets are not showing signs of the oversupply many traders fear, suggesting a potential disconnect between market sentiment and actual fundamentals.Speaking about global crude flows, he noted that floating inventories aren’t rising, and there is no significant increase in medium-sour crude arriving at the U.S. Gulf Coast—a pattern that would typically appear if producers had large volumes of spare capacity.“You look at the physical market, and you don’t see that playing itself out,” he said, warning that “there could be a collision coming” between bearish expectations and tighter underlying supply.The CEO added that while investors are watching for signs of a supply glut, ConocoPhillips sees little evidence of one. “A lot of the OPEC+ increases were paper barrels—they were already in the market,” he said, questioning when or if market bearishness will materialize. ---The comments suggest fundamentals may support higher oil prices than futures imply, reinforcing a near-term bullish case for crude. A lack of visible inventory builds could pressure short positions if data continue to contradict bearish sentiment.ps. I'm going to leave it up to readers to decide if he may be talking his book.--Also, other industry players take an opposite view:Gunvor: said that while talk of an oil market oversupply has circulated before — often proving wrong — this time the narrative appears to have more credibility given current market conditions.Trafigura: noted that traders have been aware of an impending surplus for about a year, adding that prices are likely to fall further from current levels. This article was written by Eamonn Sheridan at investinglive.com.

S&P: New Zealand ‘AA+/A-1+’ foreign currency and ‘AAA/a-1+’ local currency ratings affirmedNew Zealand’s real GDP fell 1.1% over the 12 months to June 2025, and economy has contracted in three of the last five quarters This article was written by Eamonn Sheridan at investinglive.com.

I noted earlier the hit the USD was taking from the strong CNY setting:The PBOC cracking 7.1 in its USD/CNY fix has sent the USD lower across the boardWhile EUR is pinned by a large set of option expiries:EUR4.13bn strikes in EUR/USD circa 1.1600. A likely magnet for EUR/USD in Asia.Other FX is ticking a touch stronger. Except for yen. that has managed a very solid gain. Political jockeying in Japan continues. The latest chatter is that the heads of Japan’s main opposition parties are expected to discuss whether they can close policy gaps and pick a candidate of their own for the nation’s premiership. The yen had weakened on the prospect of Takaichi becoming premier. She's not out of the running, but not a lock either. This article was written by Eamonn Sheridan at investinglive.com.

China’s deflation pressures eased slightly in September, though price declines remain entrenched, leaving the economy on course for its longest deflationary stretch since market reforms began in the late 1970s.Official data showed factory-gate prices (PPI) fell 2.3% year-on-yearmarking a 36th consecutive monthly declinebroadly in line with forecastsConsumer prices (CPI) dropped 0.3%, weaker than expectations for a 0.2% fall,Core CPI, which strips out food and energy, rose to a 19-month high of 1%, suggesting tentative stabilization in some industrial sectors like coal mining and solar equipment, according to the National Bureau of Statistics.Deflation has persisted since the pandemic, worsened by a property slump, weak consumer confidence, and industrial overcapacity, which has pushed companies into price wars. Despite policy efforts to curb excess competition and stabilise prices, China’s GDP deflator—the broadest gauge of economy-wide prices—has been negative for more than two years, the longest such run since records began in 1992. Beijing has lowered its official 2025 inflation target to around 2%, the lowest in over two decades. Inflation, however, remains near zero, reflecting deep structural imbalances. Analysts expect upcoming Q3 economic activity data (due October 20) to show growth slowing from the first half, though China remains likely to meet its 5% full-year target, reducing the likelihood of new large-scale stimulus when the Communist Party meets later this month. This article was written by Eamonn Sheridan at investinglive.com.

In its intensifying trade dispute with Washington, Beijing believes it has found a key point of U.S. vulnerability: President Trump’s obsession with the stock market, according to people familiar with Chinese policy discussions.The Wall Street Journal with the report:Chinese officials, including President Xi Jinping, are reportedly convinced the U.S. economy cannot withstand a prolonged trade war without sharp market losses. They view Trump’s heavy reliance on market performance as a political gauge, expecting that sustained financial turbulence could pressure him into concessions.Beijing’s firm stance reflects that belief: Chinese negotiators have held their line since the April selloff that followed Trump’s announcement of “Liberation Day” tariffs, when markets tumbled after China’s immediate retaliation.According to those briefed on China’s strategy, Xi is betting that the threat of another market downturn will ultimately push Trump to seek a truce at an expected summit between the two leaders later this month.--The report underscores China’s confidence in sustaining its trade stance, suggesting any further tariff escalation could hit U.S. equities. Markets may react nervously if rhetoric intensifies ahead of the planned Xi–Trump summit.Gotta say ... thinking that Trump will fold is not exactly a revelation insight. Everyone's been calling TACO since April! This article was written by Eamonn Sheridan at investinglive.com.

China September CPI -0.3% y/y vs. expected -0.2%, prior -0.4%food prices dropped 4.4%y/ynon-food prices rose 0.7%prices for consumer goods fell 0.8%service prices increased 0.6%CPI +0.1% m/mexpected +0.2%, prior 0%food prices rose 0.7%non-food prices fell 0.1%consumer goods prices +0.3%service prices fell 0.3%PPI -2.3% y/yexpected -2.3%, prior -2.9%For the PPT m/m 0%- For the first nine months of 2025, the average CPI fell 0.1% y/y. This article was written by Eamonn Sheridan at investinglive.com.

7.1 is a 'round number' psychological level for the USD/CNY refernce rate fixing. Today:PBOC sets USD/ CNY mid-point today at 7.0995 !!! (vs. estimate at 7.1281)EUR, AUD, GBP .... all have popped. I wouldn't be looking for an extended follow through in the hours ahead, we may have to wait for Europe and the US. EUR/USD looks like it may well be pinned by this:EUR4.13bn strikes in EUR/USD circa 1.1600. A likely magnet for EUR/USD in Asia. This article was written by Eamonn Sheridan at investinglive.com.

The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.The previous close was 7.1380more to come In Open market operations (OMOs) the PBOC inject 43.5n yuan at an unchanged rate of 1.4% This article was written by Eamonn Sheridan at investinglive.com.

JPMorgan Chase CEO Jamie Dimon said it’s now “semi-rational” for investors to hold gold, acknowledging that the metal’s appeal has strengthened amid today’s uncertain market backdrop.Speaking at Fortune’s Most Powerful Women conference in Washington, Dimon said there is “some logic” in owning gold even after its sharp rally, though he stopped short of calling it cheap or expensive. “I’m not a gold buyer — it costs 4% to own it,” he said. “But it could easily go to $5,000 or $10,000 in environments like this. This is one of the few times in my life it’s semi-rational to have some in your portfolio.”Dimon added that asset prices generally look elevated, warning that valuations “are kind of high across almost everything at this point,” a remark that reflects his broader caution toward risk assets despite resilient markets. This article was written by Eamonn Sheridan at investinglive.com.

RBNZ’s Conway speaking with Bloomberg TV:The 50bps rate cut was a very finely balanced decision Bit nerve wracking with inflation at the top of the bandExcess capacity gives us confidence inflation will come downNZIER survey solidified our thinking about policyOpen to further cuts in the cash rate as requiredLet's see how the data plays out in the weeks and months aheadConway has been busy today!RBNZ’s Conway: No new monetary policy tools planned, OCR remains main policy instrumentRBNZ's Conway doesn't expect to use additional monetary policy tools again any time soonReserve Bank of New Zealand's Conway says will close the gap between Dec, Feb meetingsRBNZ’s Conway: Rates of 2.5% at lower end of neutral range, but we are feeling our way This article was written by Eamonn Sheridan at investinglive.com.