Market News

Gold has rotated lower after reaching a session high of $4,217.19, falling short of the October 2 high at $4,226.83. The price subsequently fell to $4,154.79 and is currently trading near $4,167, down $27.50, or 0.65%.

Reports that Kazakhstan has begun selling gold are attracting attention, while the higher Treasury-yield backdrop is also being cited as a headwind. Ironically, the US treasury market is closed today for the Columbus Day holiday. So although yields are higher, blaming it on higher yields today is kind of a stretch.

Nevertheless, gold pays no interest. When Treasury yields rise, investors can earn more from holding government debt, increasing the opportunity cost of holding gold. That can weigh on demand, although the…

Bitcoin is trading near its session low at $82,389 after reaching a high of $84,254 earlier today.

That high took the price above the 200-hour moving average (green line), currently at $83,877. The break gave buyers an opportunity to build upside momentum. Instead, the move failed, buyers turned to sellers, and the price rotated lower.

The decline has since taken bitcoin below its 100-hour moving average at $82,786, giving sellers another short-term technical victory.

Can they keep the pressure on?

24 days of range trading

Looking at the bigger picture, bitcoin has spent the last 24 days—since September 18—trading between $80,106 and $87,374. There has been plenty of up-and-down price action, but no sustained break from that range.

Last…

The US dollar has been supported recently despite a dovish repricing triggered by Fed’s Williams and Fed’s Jefferson comments that pushed back against expectations of a rate hike in October.

The main reason were risk-off flows into the greenback due to European debt concerns. The focus has been particularly on France, where political uncertainty and concerns over the country's large fiscal deficit have recently pushed French government bond yields higher and widened the spread over German Bunds to its highest level since the eurozone debt crisis.

A stabilization in French spreads could allow some of the euro's risk premium to unwind and trigger a pullback in the US…

In the Morning Kickstart video above, I take a technical look at EURUSD, USDJPY and GBPUSD. For each pair, I outline the bias, the risk-defining levels and the targets that would give either the buyers or sellers more control.

The North American trading week begins with a partial holiday. The U.S. observes Columbus Day, while Canada celebrates Thanksgiving. U.S. stock markets are open, but the cash Treasury market is closed. Japan is also on holiday, leaving lighter participation across several markets. The Treasury yields below are Friday’s closing levels.

The U.S. dollar is higher against all seven major currencies, although the pound is nearly unchanged. Stock futures are mixed, with modest gains in the Dow and S&P 500 contrasting with a…

Markets:

• WTI crude +1.4% to $92.99
• USD leads, CHF lags on the day
• Gold down 0.5% to $4,170
• European equities higher; S&P 500 futures +0.1%
• Bitcoin down 0.3% to $83,345

It was a quieter session in European morning trade today as broader markets have to contend with a US partial market holiday to start the new week.

The US bond market is closed in observance of Columbus day and while the stock market remains open, traders and investors are still missing one key piece of the puzzle in broader markets today. That is especially the case since surging Treasury yields have been a major driver of trading sentiment over the past few weeks.

As such, the absence of a key signal for broader markets is providing some room for a bit of a breather. But at the…

IC – Asia Fundamental Forecast | 12 October 2026

What happened in the U.S. session?

The U.S. session ended with stocks higher, Treasury yields elevated, and oil trading near $104 per barrel. Weaker consumer sentiment raised concerns about the economy, while rising inflation expectations and high energy prices kept pressure on the Federal Reserve outlook. For traders, the key markets to monitor are the USD, gold, U.S. indices, Treasury yields, and crude oil, with U.S. inflation data likely to be the next major catalyst.

What does it mean for the Asia Session?

Asian traders should begin Monday by watching the U.S. dollar, Treasury yields, and oil prices. Higher oil costs and persistent inflation could keep markets cautious and increase…

IC – Europe Fundamental Forecast | 12 October 2026

What happened in the Asia session?

Asian markets started the week cautiously. Oil prices fell as traders assessed the possibility of increased Russian energy supplies, but Middle East tensions kept supply risks high. The US dollar remained near an 18-month high, Asian equities were mostly weaker, and gold edged higher as oil prices eased. India’s rupee rallied after central bank measures, while Japan’s holiday reduced trading activity. The main focus now shifts to upcoming US inflation data and Chinese economic releases, which could drive the next major moves in currencies, gold, oil, and equities.

What does it mean for the European & US sessions?

Markets start Monday with oil prices…

SpaceX sent telecom stocks plunging. Is Monday's premarket bounce a buying opportunity or a trap?

Monday, October 12, 2026 | U.S. premarket stock movers | Prices delayed approximately 15 minutes

T-Mobile, AT&T and Verizon suffered heavy losses on Friday after SpaceX unveiled a spectrum acquisition that could eventually challenge traditional mobile networks. Monday's early premarket trading shows a modest recovery, but the damage is largely intact. Meanwhile, telecom tower operators have retained most of their remarkable gains. Are investors correctly pricing a competitive revolution, or getting ahead of the evidence?

As also navigate this week's tricky market structure, I'm closely watching the shifting liquidity dynamics because the Nasdaq…

If someone walks up to you and says that they have more winning trades than they do losing ones, you would think that they are probably making bank. I mean, it sounds perfectly logical, no? If you're getting most of your trades right, then it makes sense that you should be making money.

But what if I told you that winning more trades doesn't necessarily mean that you would be making money? It sounds convoluted now but that's where understanding your win rate and how that ties to risk/reward becomes important.

If you're winning more than you are losing, that means you should have a win rate of over 50% in your trades. It can be something like 60% or maybe even higher like 80%. However, a high win rate doesn't automatically mean that you're…

The Nasdaq has found some support after Trump ruled out strikes on Iran before the midterm elections. The prolonged stalemate, though, continues to keep the geopolitical risk high. Over the weekend, Iran said that the US's response to its proposal to reopen the Strait of Hormuz was insufficient.

The negotiations to resolve the difference are still ongoing and Iran's Foreign Ministry Spokesperson said today that Tehran is still reviewing US positions and will reply via intermediaries when the review is over. This is likely to limit any downside move in crude prices until we finally get a breakthrough.

The earnings season could bring more volatility than usual, but the…

●         Asian Stock Markets : Nikkei down 0.02%, Shanghai Composite down 0.12% Hang Seng up 0.15% ASX up 0.84%

●        Commodities : Gold at $4,227.90 (0.27%) Silver at $61.335 (0.49%), Brent Oil at 103.28 (-1.38), WTI Oil at 90.40 (-1.60%)

●        Rates : US 10-year yield at 5.223, UK 10-year yield at 5.4457, Germany 10-year yield at 3.4860

●        (CAD)  Employment Change   68.3K to 6.1K  expected

●        (USD)  Prelim UoM Consumer Sentiment   46.3 to 47.5  expected

U.S. stock futures were little changed on Sunday night as investors prepared for a busy week of corporate earnings reports and inflation data, following gains across major indexes last week.

S&P…