News Overnight
A big jump in the Australian Unemployment Rate surprised FX traders, keeping AUD/USD below the 15 year downtrend in the face of a weaker USD. Otherwise Philly Fed disappointed and UK numbers better than expected.
US Govt still shut.
Gold and Silver surged higher yet again, while equities stalled and Bitcoin is thumped yet again. USD and bond yields were lower.
Breaking
Fed’s Waller on board for an October rate cut, as Miran again presses for aggressive easing [Reuters]
On The Verge Of A Funding Crisis: Fed’s Emergency Liquidity Facility Unexpectedly Soars Most Since COVID [Zerohedge]
Barclays warns UK faces gilt market challenges ahead of Budget [investing.com]
US Nears Tariff Relief for Auto Industry After Lobbying Push [Bloomberg]
US regional bank shares sink on credit worries after fraud disclosures [FT]
For Free Subscribers
Oil Update 17 October 2025
Price has taken out support at 62.70 and now looks to 59.10. Nice place to move your stop down is above 64.25, as we approach the clear air pocket below 58.70.
USD/YEN Update 17 October 2025
For Paid Subscribers
Bitcoin Update 17 October 2025
The chances of a test of 100k are growing as price action is really poor. We couldn’t get above 116k and now 3 solid down days could lead to 7 solid down days.
S&P 500 Update 17 October 2025
Economic Indicators Today
