market outlook

Market Summary (Oct 24, 2025)

Josh

24 Oct 2025 — 1 min read

We’re entering US CPI day with gold poised to rally in either scenario—soft data would cement a dovish Fed view and hot prints would stoke stagflation fears—keeping safe-haven flows supported around the low-4,000s and trendline support near 4,036. Volatility remains elevated, so knee-jerk moves are likely before fundamentals reassert. In FX, EUR/CHF’s climb through 0.9200 raises Swiss intervention risk, while USD/CHF and USD/JPY are set to react sharply to the print. Meanwhile, new US export curbs on China are adding a defensive tilt to tech and industrials. Our focus stays on today’s headline numbers to gauge the next directional thrust.

Market Summary (Oct 29, 2025)

We remain constructive on gold despite the recent shake-out, as central banks continue to diversify into bullion (gold now represents roughly 30% of FX+gold reserves) and our long-term fair-value model points toward much higher levels. Tomorrow’s FOMC is the next key catalyst: a dovish Fed would likely send

Market Summary (Oct 28, 2025)

We see gold caught in a sharp pullback as markets price in the immediate 25 bp Fed cut, but our macro bias remains firmly bullish: ongoing central-bank accumulation, de-dollarization trends and dovish Fed rhetoric should drive a resumption above the 4,160–4,200 area once technical structure confirms. Oil

Market Summary and Key Outlook (as of October 27, 2025)

Global Financial Condition Highlights * US–China trade talks reached a consensus in Kuala Lumpur, averting the risk of 100% tariffs and rare-earth export curbs. * US CPI (October) printed softer than expected, reinforcing dovish Fed expectations ahead of Wednesday’s FOMC. * “Risk-on” sentiment prevails: equities, commodities, and procyclical currencies are bid;

Market Summary and Key Outlook (as of October 20, 2025)

Global Financial Condition Highlights * Sino-U.S. trade tensions remain the primary driver. Recent stop-start de-escalation headlines have produced whipsaw risk-on/risk-off flows. * The Fed’s dovish tone and announcement that Quantitative Tightening will end in coming months support risk assets and weigh on the USD, but geopolitics currently override monetary

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Market Summary (Oct 29, 2025)

Market Summary (Oct 28, 2025)

Market Summary and Key Outlook (as of October 27, 2025)

Market Summary and Key Outlook (as of October 20, 2025)