Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Last week, the US Dollar performed strongly in the currency markets, with the Dollar Index and 10-year Treasury yields rising above key resistance levels. As the US election approaches, there are expectations that a potential Trump victory could boost the Dollar and inflation concerns.
In September, US durable goods orders decreased by 0.8%, better than the expected drop of 0.9%, mainly due to a decline in transportation equipment. However, orders excluding transportation rose by 0.4%, indicating positive trends.
In Japan, recent snap elections led the Yen to fall to a three-month low against the US Dollar due to political instability. Speculation surrounds potential delays in interest rate hikes, influenced by a weakened ruling coalition.
Next week will be busy, with key earnings reports from major tech companies and important US jobs data, which could affect interest rates and stock market performance. The earnings dates for the "magnificent 7" companies are as follows:
- Alphabet (GOOGL): October 29
- Meta Platforms (META): October 30.
- Microsoft (MSFT): October 30.
- Amazon (AMZN): October 31.
- Apple (AAPL): October 31.
