Market News

USD:

The US dollar has recently been driven mainly by growth concerns rather than inflation fears. In fact, despite hotter US inflation data last week, Treasury yields dropped significantly and rate hike probabilities saw a slightly dovish repricing. Given the overstretched long positioning in the greenback, we’ve started to see an unwind which could extend further if growth concerns strengthen.

That’s why tomorrow’s US Flash PMIs could be an important catalyst. Strong data could quell those fears and give the US dollar a boost. A soft report, on the other hand, will likely increase growth concerns and put further pressure on long-term Treasury yields and the greenback.

Crypto ETF flows have become a popular indicator for gauging institutional demand. Strong inflows are often interpreted as bullish, while sustained outflows are seen as a warning sign. However, ETF flows tell you what investors have already done, not what they are likely to do next.

By the time large inflows appear in the data, prices may have already rallied on the news that attracted investors. Similarly, outflows often accelerate after a selloff has begun. Traders who rely solely on these figures risk buying near the top or selling near the bottom, becoming the bagholders of a move that has already played out.

Instead of waiting for ETF data to confirm a trend, traders should focus on what could trigger the next change in demand. For…

US futures are taking quite a beating today as what looked to be a promising rebound in Wall Street yesterday is already threatening to unravel. S&P 500 futures are down 1% with Nasdaq futures down 1.7% as tech shares are bearing the brunt of the selling.

Tensions in the Middle East are once again pushing up oil prices, so that is arguably keeping investors on edge. But then, you have Treasury yields falling as 10-year yields are down to 5.08% today. Ordinarily, that should offer some relief to tech shares amid their lofty valuations. But not today, it seems.

In any case, I would argue that the bigger problem lies with earnings and whether the AI rally can continue to live up to the enormous expectations already priced in.

Now, Meta's…

Solana came under renewed pressure as escalating Middle East tensions weighed on risk sentiment, with reports of US military preparations for potential strikes on Iran adding to concerns about another direct confrontation.

The combination of rising oil prices, growing economic concerns and a hawkish Federal Reserve creates a very challenging backdrop for the crypto market. If the conflict escalates further, SOL could remain vulnerable to a broader risk-off move.

Solana has also completed the Alpenglow upgrade which went live on mainnet on October 21, replacing TowerBFT and targeting transaction finality of around 150 milliseconds, down from approximately 12.8 seconds.

Ethereum came under renewed pressure as escalating Middle East tensions weighed on risk sentiment. The weakness began late yesterday following reports that the US military was reducing its troop presence at bases across the region, while the State Department ordered staffing cuts at diplomatic posts amid rising security risks and the possibility of renewed military action against Iran.

The selling pressure intensified after The New York Times reported that the US and Israeli militaries had developed detailed plans for potential strikes on Iran following the US midterm elections. The report also said that the US was building up its military presence, with three aircraft…

It might not seem like it, but the euro is finding itself in a rather uncomfortable spot in trading today. While EUR/USD is holding up relatively better amid the broader market turmoil, EUR/CHF is perhaps telling us a more worrying story about the risks building in Europe.

The latest drop today sees the pair briefly touch its lowest level in three months, slipping to 0.9220 levels now as the Swiss franc draws renewed support from its traditional safe-haven appeal. But what is driving that?

Well, it's the thing we have been talking about every so often in the past two weeks, that being France's fiscal plight. And the worries are now growing rather quickly as French 10-year government bond yields have surged above 5%, hitting their highest…

Crude oil bounced from a key trendline yesterday after we got reports that the US was reducing its troop presence at bases across the region and cutting staffing at diplomatic missions amid rising security risks. The bullish momentum then picked up after The New York Times reported that the US and Israeli militaries had developed plans for renewed strikes on Iran following the US midterm elections, with additional forces expected to be fully deployed by early November.

Meanwhile, the Saudi-Houthi conflict continues to pose a significant threat to energy infrastructure. The Houthis have intensified further the attacks against Saudi Arabia, targeting airports, military…

IC – Europe Fundamental Forecast | 22 October 2026

What happened in the Asia session?

Asia-session trading on Thursday was driven mainly by rising oil prices, Middle East tensions, concerns over AI spending, and uncertainty about Federal Reserve policy. Brent crude was the clearest bullish mover, while Asian equities weakened. The yen remained caught between the negative effects of expensive oil imports and the potential support of tighter Bank of Japan policy.

What does it mean for the European & US sessions?

European and U.S. traders should focus on U.S. jobless claims, European consumer confidence, Treasury yields, central-bank expectations, and Middle East developments. The dollar is consolidating as markets await next week’s…

IC – Asia Fundamental Forecast | 22 October 2026

What happened in the U.S. session?

U.S. stocks finished higher on Wednesday, led by strong AI-related earnings, particularly in the technology sector. Treasury markets remained under pressure following a weak 20-year bond auction, while gold gained as yields eased. Oil prices were mixed because falling crude inventories and Middle East supply risks competed with rising distillate stocks and hopes for diplomatic progress.

What does it mean for the Asia Session?

Asian traders should focus on oil prices, technology stocks, the U.S. dollar, and key Asian economic releases on Thursday, 22 October. Rising Middle East tensions are supporting oil prices and increasing inflation concerns, while…

Gold dropped significantly during the Asian session as the Middle East tensions escalated. The weakness started late yesterday after we got reports that the US military was reducing its troop presence at bases across the Middle East, while the State Department ordered staff cuts at diplomatic posts in the region. The reports linked the moves to regional threats and the possibility of US military action against Iran.

The bearish momentum then pickup up after the New York Times reported that the US and Israeli militaries have developed specific plans for renewed strikes on Iran after the US midterm elections. Moreover, the report said the US is assembling forces, including three…