Ian Reynolds
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Overnight
Economic Indicators Released 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.
US Equities
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]
Bitcoin
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. Read more
Commodities
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. Read more
Foreign Exchange
Ok so the conclusion was break back lower towards the break of the downtrend at 97.85. 15 year support is at 96.80 today and price can’t seem to break away from it. Read more
Equities
Looks like the impulse to get back into the uptrend has failed, and a close below 6,630 would be bearish. Plenty of support if we go lower, but buyer beware below 6,210. Read more
More on Substack
USD/YEN Update 17 October 2025
Economic Indicators Today
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