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Europe Summary and Highlights 7 October
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October 7, 2025 10:09 AM UTC

The USD gained around 20 pips against both the EUR and JPY through the European morning.

Asia Summary and Highlights 7 Oct
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October 7, 2025 5:04 AM UTC

Japan August Household spending +2.3% y/y

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September Outlook: Into 2026 -- Market Implications
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September 26, 2025 9:00 AM UTC

Our September Outlook is now published and please see all our markets chapters below.  

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DM FX Outlook: USD steadies but vulnerable to equity correction
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September 23, 2025 2:48 PM UTC

·       Bottom Line: The USD has continued to edge lower against the EUR in the last quarter as market expectations of Fed easing have increased following clear weakening in U.S. employment growth. But at this stage the data doesn’t indicate we are heading for recession, and this suggests w

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DM Rates Outlook: Steepening Yield Curve The Old Normal?
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September 23, 2025 7:53 AM UTC

•    We continue to forecast further yield curve steepening across the U.S./EZ and UK, driven by cumulative easing.  For the U.S. this can see a modest further decline in 2yr yields, but the prospect is for a move to a premium of 2yr to Fed Funds (unless a hard landing is seen).  10yr yields

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Equities Outlook: Correction Then Up In 2026
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September 23, 2025 7:15 AM UTC

•    The U.S. equity market’s bullishness reflects good corporate earnings reality, buybacks and the AI story.  However, we feel that the U.S. economy can deteriorate still further in the coming months, as the lagged effects of tariffs boost inflation and restrain spending/hurt corporate ea

FX Weekly Strategy: Sep 22nd-26th
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September 19, 2025 2:53 PM UTC

Limited impact likely from S&P PMIs, though weaker US numbers seen
JPY may manage a small recovery, but turn in equities needed to reverse weak trend
SEK could be vulnerable to Riksbank rate cut
Little chance of SNB action, but EUR/CHF may have found a near term base

Asia Summary and Highlights 9 Oct
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October 9, 2025 5:52 AM UTC

Hamas accepts Trump peace plan ending 2 years of war in Gaza, returning hostages

AUD/USD flows: More upbeat for regional equity than U.S.
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October 9, 2025 5:48 AM UTC

Regional equities outperform U.S. equities

Chart USD/IDR Updates: Extending September losses
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October 9, 2025 5:07 AM UTC

Consolidation above the 16540 low has given way to break to extend losses from the 16770, September high

Chart USD/INR Update: Ranging below 88.8000, all-time high
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October 9, 2025 4:56 AM UTC

 Little change, as prices extend consolidation within a narrow range below the 88.8000 all-time high

FX Daily Strategy: Europe, Oct 9
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October 9, 2025 4:51 AM UTC

Central bank speeches to get more attention in data free market
JPY remains under pressure despite weak rationale
Government or BoJ action may be needed to turn the trend
USD generally rangy but risks around equity markets remain

Chart USD/CNH Update: Settled back from the 7.1500 resistance
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October 9, 2025 3:12 AM UTC

No follow-through on break above the 7.1500 resistance as prices settled back to unwind overbought intraday and daily studies

Chart USD/THB Update: Extending gains
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October 9, 2025 2:54 AM UTC

Consolidation below the 32.50 resistance has given way to break to extend gains from the 31.58/31.60, September lows

Chart USD/KRW Update: Settled back from test of 1428.00 resistance
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October 9, 2025 2:36 AM UTC

Further extend gains through the 1420.00 level to reach strong resistance at the 1428.00 congestion before settling back

Chart USD/SGD Update: Consolidating at 1.2950, room for higher later
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October 9, 2025 2:18 AM UTC

Settled back from the 1.2968 high to consolidate around the 1.2950 level as prices unwind overbought intraday studies

Chart GBP/USD Update: Consolidating at 1.3400, room for lower
Freemium Article

October 9, 2025 2:04 AM UTC

Limited on break of the 1.3400 level and bounce from the 1.3370 low see prices back in consolidation around the 1.3400 level

Chart EUR/USD Update: Consolidating test of 1.1600 support
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October 9, 2025 1:49 AM UTC

Break of the 1.1645 support has seen extension to tag support at the 1.1600 level before turning up in consolidation

Chart EUR/JPY Update: Consolidating gains to multi-year high
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October 9, 2025 1:20 AM UTC

Further extend bullish break of 175.05 September high at the start of the week to approach 177.90, 1991 year high

USD/JPY flows: Hamas and Israel Signs Peace Agreement
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October 9, 2025 1:09 AM UTC

Hamas accepts Trump peace plan ending 2 years of war in Gaza, returning hostages

Chart USD/JPY Update: Consolidating test of 153.00
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October 9, 2025 12:59 AM UTC

Break of the 152.00 resistance has seen gains extending to tag the 153.00 level before settling back

Chart NZD/USD Update: Still room to retest .5755/37 lows
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October 9, 2025 12:40 AM UTC

No follow-through on break of the .5755 September low as losses met with buying interest at the .5737 channel support from the July high

Chart AUD/USD Update: Limited pullback from the .6625/00 resistance
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October 9, 2025 12:25 AM UTC

No follow-through on break of support at the .6580/75 area as prices met with buying interest above support at the .6550 congestion

FX Daily Strategy: Asia, Oct 9
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October 8, 2025 9:00 PM UTC

Central bank speeches to get more attention in data free market
JPY remains under pressure despite weak rationale
Government or BoJ action may be needed to turn the trend
USD generally rangy but risks around equity markets remain

North American Summary and Highlights 8 Oct
Freemium Article

October 8, 2025 7:52 PM UTC

Overview - The USD was generally firmer, again led by USD/JPY, but came off its highs after the FOMC minutes.