🌅 Morning Update (10.12.2025)
🇺🇸 US markets closed mixed:
Dow Jones slipped 0.3%, S&P 500 eased 0.09%, while NASDAQ edged up 0.13%. The day’s leader was Russell 2000 with a 0.21% gain, although it could not finish at a new all-time high despite setting an intraday record.
🕒 All eyes on today’s FOMC meeting. Markets have been in wait-and-see mode since Monday. Traders are focused not only on the rate decision but also on the tone of the statement and new economic projections, which should hint at the pace of cuts ahead.
Consensus expects a 25 bp cut to 3.75%.
🎙 Kevin Hassett, seen as a top contender for the Fed chair role, noted yesterday that the Fed still has room for deeper cuts, potentially beyond standard 25 bp steps, while stressing that decisions must remain data-driven.
📊 JOLTS data showed job openings rising slightly in October to 7.67M from 7.66M, signalling steady but slow hiring demand.
🇨🇳 China’s November CPI increased 0.7% y/y, the fastest since March 2024. However, CPI fell 0.1% m/m, and deep PPI deflation points to ongoing weak demand. Hints of possible stimulus and reports of an RRR cut create an interesting setup for 2026, especially after recent profit-taking in Chinese equities.
🇳🇿 New Zealand recorded around 2,400 net migrants in October, showing steady population growth.
🥈 Silver hit a historic high above $60/oz on tight supply and rising industrial + investor demand.
🥇 Gold trades near $4,200/oz.
₿ Crypto stays stable: Bitcoin holds around $92,600, while Ethereum trades near $3,320.
🚀 Stay tuned with NordFX – trade the markets with confidence!
NORDFX Global
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