Global Markets Report: Today's Top Stories

Market Overview:

Russias Nuclear Strategy

Russia‘s new nuclear doctrine allows for nuclear retaliation if the country faces an attack by missiles, drones, or aircraft. This move poses a direct challenge to Ukraine’s ambition for long-range missile strikes and complicates U.S. involvement. As U.S. elections approach, Ukraines future aid hinges on the outcome. A Harris administration may maintain the current level of support, while a Trump victory could lead to a significant reduction.

Market Analysis:

GOLD: GOLD has dropped to new lows, driven by lower expectations of a 50-basis-point rate cut from the Fed. Recovery is expected long-term.

SILVER: SILVER is bearish, having fallen below key support, with further declines expected around 29.900.

DXY: The U.S. dollar remains flat but may strengthen if CPI and PPI data meet expectations.

GBPUSD: The pound is likely to weaken, with a potential drop toward 1.29966.

AUDUSD: The Aussie continues to weaken, and theres a 50% chance of rate easing by December.

NZDUSD: Kiwi has cut rates to 4.75%, with further cuts expected in November.

EURUSD: The euro remains directionless, awaiting further market signals.

USDJPY: Yen is consolidating as it awaits key policy decisions.

USDCHF: The franc is likely to continue consolidating, with a potential breakout or further selling near 0.806060.

USDCAD: Despite higher oil prices, CAD is weak, hindered by geopolitical uncertainties and the impact of Hurricane Milton.