🌅 Morning Market Update | 24 October 2025 🇺🇸 After the U.S. session closed, Donald Trump made a striking comment: “We will be seeing land action in Venezuela soon.” If this hints at possible military intervention, safe-haven assets like gold and the yen could see a sharp inflow 🪙📈 Trump also announced an “end” to trade talks with 🇨🇦 Canada, referring to “Reagan tariffs.” In response, Canada reduced duty-free import limits for Stellantis (−50%) and GM (−24.2%) to boost domestic investment. The USDCAD reaction has so far remained muted 💵 🇯🇵 Japan’s September inflation stayed firm at 2.9% y/y, with both core and core-core readings at 2.9–3.0%. Goods prices climbed 4.2%, while services rose just 1.4%, lowering the odds of an early BoJ rate hike. The yen remains weak, with USDJPY up about 0.3% today 📊 Finance Minister Katayama reiterated that BoJ policy should align with the government’s accommodative stance. Meanwhile, PM Takaichi emphasised a “responsible but proactive” fiscal policy — focusing on growth before fiscal tightening 📉 Japan’s manufacturing PMI fell to 48.3, the lowest in 19 months, marking the fourth consecutive month of contraction, while services PMI eased to 52.4. 🇦🇺 In Australia, manufacturing dipped (49.7 vs 51.4), but services strengthened (53.1), keeping the RBA on a data-dependent path. 🇨🇳 China’s NDRC pledged over ¥5 trillion in new infrastructure projects, including underground pipelines, to boost consumption and investment — aiming to stabilise growth and restore confidence 💪 📊 Global markets are balancing political headlines with mixed macro data, setting up a potentially volatile Friday session ahead. 👉 Trade smart and stay ahead with NordFX 💼