investingLive Asia-Pacific FX news wrap: RBA caution, China confirm trade talk, metals hot

• Japan finmin Kato says recently seeing one-sided, rapid moves (referring to the yen)
• Silver hits record above $52.70 as squeeze intensifies; Goldman warns of volatility
• Chinese media defends rare earth controls, accuses U.S. of abuse of export restrictions
• Federal Reserve Chair Powell is speaking Tuesday. Bowman, Waller, Collins also on deck.
• JPMorgan to double Asia assets to $600 billion by 2030, targets $1 trillion long term
• RBA says Australian dollar near equilibrium, not adding to tighter financial conditions
• PBOC sets USD/ CNY central rate at 7.1021 (vs. estimate at 7.1353)
• China commerce ministry urges the US to correct its wrong practices
• RBA minutes – Signals patience on rate cuts, says policy still slightly restrictive
• Australian business confidence jumps to+7 in September, from +4 in August
• Bank of America sees gold at US$5,000, silver at US$65 by 2026 amid US policy risks
• PBOC is expected to set the USD/CNY reference rate at 7.1353 – Reuters estimate
• USD/SGD not a lot changed after the as expected Monetary Authority of Singapore hold
• MAS leaves policy unchanged, as widely expected
• JPMorgan blames leveraged ETFs for worsening Wall Street selloff, warns of more to come
• China has officially begun levying port fees on US ships
• Reserve Bank of New Zealand to ease LVR restrictions
• UK retail sales slow as households brace for Reeves budget, Barclays and BRC say
• Staunch Trump ally Taylor Greene rings alarm bells on tariffs, deports, harm to business
• Rabobank expects AUD/USD to stay near 0.65 short term, rise to 0.68 over 12 months
• Goldman: Trump trade policy now key driver of US inflation. See tariffs delaying Fed cuts.
• New Zealand data: September Card Spending Retail -0.5% m/m (prior +0.6%)
• investingLive Americas FX news wrap 13 Oct: US stocks claw back some declines. USD rises.
• BofA says AI boom unlike dot-com bubble; Nvidia remains top chip pick
• Australia – NAB Business Survey in focus as inflation pressures test RBA outlook
• US major indices claw back some of the declines
• Goldman Sachs warns U.S. shutdown could be one of the longest in history

Singapore’s economy expanded faster than expected in the third quarter, even as the central bank cautioned that growth will likely moderate in 2026.

• Gross domestic product rose 2.9% year-on-year in the three months to September, topping forecasts for a 1.9% gain but slowing from a revised 4.5% in Q2.

The Monetary Authority of Singapore kept policy unchanged, maintaining the current rate of appreciation in the S$NEER band, with the width and midpoint left steady.

In Australia, business confidence improved, with the NAB index rising to +7 in September from +4 in August, while business conditions held steady as stronger sales and profitability offset softer employment.

Minutes from the Reserve Bank of Australia’s September meeting signalled patience on further rate cuts, with policymakers saying monetary policy remains slightly restrictive but that previous easing is supporting housing activity.
The bank said the Australian dollar’s modest appreciation, driven by widening yield differentials, is in line with fundamentals and not adding to financial tightening.

In China, the Commerce Ministry confirmed it had notified the U.S. in advance of its new rare earth export controls and held working-level talks on Monday under existing trade consultation channels. Beijing criticised Washington for “imposing new restrictions while seeking dialogue” and urged it to act with sincerity, reiterating that cooperation benefits both sides while confrontation harms both.

Major currencies traded in narrow ranges, while gold and silver rocketed to fresh record highs as precious-metals momentum continued amid tight physical markets and strong speculative interest.

Asia-Pac
stocks:

• Japan
  (Nikkei 225) -1.2%
• Hong
  Kong (Hang Seng)+0.44 %
• Shanghai
  Composite +0.64%
• Australia
  (S&P/ASX 200) +0.03%

This article was written by Eamonn Sheridan at investinglive.com.