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• China is exercising economic coercion

That’s rich from a country that’s put tariffs on every country in the world.

This article was written by Adam Button at investinglive.com.

There is a “clever and generous” bailout coming for farmers as soon as the government shutdown ends, National Economic Council director Kevin Hassett told an Axios forum today.

“I
expect that when the government opens that very soon after you’re going
to see what President Trump’s plan for farmers is, but it’s really quite
clever and generous. I can say that,” he said.

Trump has pledged to send tariff money to farmers, and also floated $1000-$2000 checks to Americans. Of course, that money was also pledged by everyone to pay down the deficit.

This article was written by Adam Button at investinglive.com.

Shares of Bank of America are up 4.2% in the pre-market after beating on earnings, revenue and net interest margin. The company also guided to strong margins in Q4.

The Russell 2000 broke out to an all-time high yesterday and financials should keep it supported again today. It’s up 1% in the pre-market.

More broadly, the S&P 500 is up 0.7% with Nvidia leading the way up 2.7% on an upgrade at HSBC.

This article was written by Adam Button at investinglive.com.

The US-Canada trade talks have gone a bit quiet since last week’s meeting between Carney and Trump but Canadian officials said they were continuing to work on a deal that was focused on steel, aluminum and maybe more.

The comment from Bessent confirms that talks haven’t broken down.

This article was written by Adam Button at investinglive.com.

• Prior month -8.70
• NY Fed manufacturing index for October 10.70 vs -1.40 est.

Details from the NY Fed:

• Headline index: Business conditions index rose 19 points to 10.7, signaling modest growth — the third positive reading in four months.

• New orders/shipments: Both increased after last month’s decline (new orders index 3.7 versus -19.6 last month, shipments 14.4 versus -17.3 last month).

• Inventories: Little changed (-1.0 versus -4.9 last month).

• Supply chain: Delivery times lengthened slightly (3.9 versus 0.0 last month), and supply availability worsened (-10.7 versus .8 .8).

• Employment: Modest job gains (employment index 6.2 versus -1.2 last) but a shorter workweek (-4.1 versus -.41 last month).

• Prices: Both input and selling prices rose faster (prices paid 52.4 versus 46.1 last month, prices received 27.2 versus 21.6 last month).

• Capital spending: Plans remained soft (-2.9 versus -3.9 last month).

• Outlook: Firms became more optimistic, with nearly half expecting improvement in coming months; new orders and shipments expected to rise while price pressures persist.

This article was written by Greg Michalowski at investinglive.com.

• Prior was +2.5%
• Wholesale trade vs -1.3% expected (+1.2% prior)
• Canada August manufacturing sales % vs -1.5% expected

USD/CAD was trading flat on the day at 1.4040 ahead of the data.

This article was written by Adam Button at investinglive.com.

Headlines:

• After a back and forth start to the week, the dollar now starts to lose momentum
• Gold Technical Analysis: Lack of bearish drivers keeps the bullish momentum intact
• BofA, Morgan Stanley earnings beat estimates in Q3
• EU trade commissioner says to meet with China’s commerce minister next week
• China’s Lin: The US and China should engage in talks
• ECB’s Dolenc: No reason to change rates in the coming months
• Spain September final CPI +3.0% vs +2.9% y/y prelim
• France September final CPI +1.2% vs +1.2% y/y prelim
• Eurozone August industrial production -1.2% vs -1.6% m/m expected
• US MBA mortgage applications w.e. 10 October -1.8% vs -4.7% prior
• China September M2 money supply +8.4% vs +8.5% y/y expected

Markets:

• AUD leads, USD lags on the day
• European 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 $4,202.09
• WTI crude up 0.2% to $58.83
• Bitcoin down 0.8% to $112,166

It 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.

• Market index 317.2 vs 323.1 prior
• Purchase index 166.0 vs 170.6 prior
• Refinance index 1168.0 vs 1180.2 prior
• 30-year mortgage rate 6.42% vs 6.43% prior

This 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.

The post Ex-Dividend 16/10/2025 first appeared on IC Markets | Official Blog.

• Prior +0.3%; revised to +0.5%

Industrial output in the euro area slumped once again, but at least less than expected. Still, the index for industrial production now falls to its lowest since January but at least is 1.1% higher compared to August last year. The breakdown shows a drop in output for intermediate goods (-0.2%), energy (-0.6%), capital goods (-2.2%), and durable consumer goods (-1.6%). And that is only slightly offset by a rise in output for non-durable consumer goods (+0.1%). The drag from Germany here is the most notable for the month of August.

This article was written by Justin Low at investinglive.com.

• Prior +8.8%
• New yuan loans ¥1.29 trillion vs ¥1.47 trillion expected
• Prior ¥590.0 billion

New bank loans picked back up in September but misses on estimates once again. As much as Beijing is trying its best to stimulate credit growth, weak private demand remains a big problem and that is something that they have to address via other means it would seem.

This article was written by Justin Low at investinglive.com.