Deutsche Bank forecasts that both Bitcoin and gold could become part of central bank reserves by 2030, reflecting a shift in global finance driven by a weaker U.S. dollar and heightened geopolitical uncertainty.In its report “Gold’s Reign, Bitcoin’s Rise,” the bank highlighted Bitcoin’s standout year, surpassing $125,000 in 2025 so far, and gold’s near 50% gain, with prices reaching $4,000.Deutsche Bank said central banks may begin to treat Bitcoin as a complementary reserve asset to gold, citing its growing liquidity, strategic relevance, and rising credibility. Both assets, it said, are likely to assume a more structural role in global reserves as governments seek to hedge against inflation, currency risk, and geopolitical instability. ---Potential impacts:Crypto: Institutional and sovereign adoption expectations may reinforce long-term demand for Bitcoin.Commodities: Gold’s climb above $4,000 signals enduring appeal as an inflation and geopol hedge.FX: Highlights ongoing erosion of dollar dominance amid diversification of reserve holdings. This article was written by Eamonn Sheridan at investinglive.com.

Closing changes on the day:Stoxx 600 +0.8%German DAX +1.0%France CAC +1.2%UK FTSE 100 +0.8%Spain IBEX +1.1%Italy's FTSE MIB +1.1%European stock markets finished at the best levels of the day as strong bids have lifted equities globally. This article was written by Adam Button at investinglive.com.

The major US stock indices are trading to new highs for the day and in the process extending above the all-time high close levels for the broader indices. The S&P index traded as high as 67 51.09. It's record high close level comes in at 6740.28. The price is currently up 0.54% at 6750.90. For the NASDAQ index, it's record high close is at 22941.67. The price is currently trading at 22966.32 up 177 points or 0.70%.The Dow industrial average is also higher by 140 points or 0.30%, but short of its record high close at 46758. The current price is trading at 46741.The Russell 2000 is also higher today by 18.63 points or 0.76% at 2477.16. Its all-time high close level comes in at 2486.25. This article was written by Greg Michalowski at investinglive.com.

The AUDUSD moved lower in tandem with the NZDUSD after the RBNZ delivered a larger-than-expected 50 basis point rate cut in the Asian Pacific session. The selling pressure took the pair down toward the 50% retracement of the move up from the August 21 low at 0.6560, which aligned with the low of a swing area at 0.6559. The low price reached 0.6556. With momentum fading and the price waffling up and down between 0.6556 and 0.6569, the sellers gave up, and the buyers started to take back control.Over the past five hours of trading, the tide has seen buying momentum push the pair higher as sellers gave up on pressing lower. That rebound has now carried AUDUSD to a test of 0.6588, just shy of the key technical barrier set by the 200-hour moving average at 0.6592 and the 100-hour moving average at 0.65948.These two moving averages now represent the critical barometer for buyers and sellers. For sellers, the level provides a well-defined ceiling to lean against in order to keep the bias in their favor. For buyers, a break above both would be a strong technical signal that control is shifting, opening the door to further upside momentum. Until that happens, sellers maintain the edge, but the risk is clear: a decisive move above the 100- and 200-hour moving averages would tip the balance back toward the bulls. This article was written by Greg Michalowski at investinglive.com.

Doesn't address monetary policy in speechMonetary policymakers should make a clear and credible commitment to achieve their price stability objectiveThere is this temptation right now at central banks to run it just a bit hot because of housing struggles and that's a poison pill. This article was written by Adam Button at investinglive.com.

The NZDUSD moved lower after the RBNZ surprised with a 50 basis point rate cut, opting for the larger move after markets were split between expectations of 25 or 50. The initial reaction drove the pair to its lowest level since April 11, breaking beneath last month’s low at 0.5753. However, sellers were unable to force a deeper extension, with the decline stalling inside a key swing area between 0.57397 and 0.5772. Importantly, the move also held above the 61.8% retracement of the 2025 trading range at 0.57272, leaving that as an untested support target for now.Since then, the pair has bounced, recovering back above the top of the swing area at 0.5772. For buyers to build real momentum, however, they still need to break—and hold—above the 50% midpoint of the year’s range at 0.5802. Staying below that level keeps the broader technical bias tilted in favor of the sellers.At this stage, the NZDUSD is carving out a new defined range, with clear levels for traders to lean against. On the downside, support sits at 0.57397–0.5727, while resistance is found at 0.5802. A sustained push above resistance would frustrate sellers and shift the bias higher, while holding below keeps the focus on downside targets. This article was written by Greg Michalowski at investinglive.com.

Sector OverviewToday's US stock market heatmap reveals a strong performance in the Technology Sector, particularly within semiconductors. Led by market giant Nvidia (NVDA), which rose by an impressive 2.21%, there's a notable bullish sentiment driving this part of the market. Broadcom (AVGO) also showed a solid gain of 1.45%, reinforcing investor confidence in the semiconductor space. Other semiconductor companies like Micron Technology (MU) surged by 4.61%, highlighting a widespread upward trend.Conversely, the Consumer Defensive sector faced challenges, with major retailers such as Walmart (WMT) and Procter & Gamble (PG) declining by 0.48% and 0.97%, respectively, indicating cautious consumer spending behavior impacting these stocks.Market Mood and TrendsThe overall mood in the market today remains cautiously optimistic. The rally in semiconductors signals a rejuvenated interest in tech stocks, possibly fueled by positive forecasts and technological advancements. However, declines in consumer defensive stocks suggest that investors are wary of inflationary pressures impacting everyday spending. Furthermore, the Financial Sector presents a mixed picture. While Visa (V) ticked up by 0.59%, JPMorgan Chase (JPM) saw a slight decrease of 0.20%, illustrating investor uncertainty amid shifting economic policies.Strategic RecommendationsGiven today's developments, investors might consider adjusting their portfolios to capitalize on the upward momentum in semiconductors while maintaining vigilance over potential volatility. Tech stocks, particularly within semiconductors, may offer lucrative investment opportunities in the coming periods. Meanwhile, exercising caution in consumer defensive stocks could be prudent until market conditions stabilize and inflation concerns are more firmly addressed. Finally, for those looking to diversify, examining prospects within the more stable segments of the financial sector could hedge against potential downturns in consumer spending-driven stocks. Keep abreast of the latest market updates by visiting InvestingLive.com for comprehensive analyses and expert insights into navigating these dynamic market conditions. ?? This article was written by Itai Levitan at investinglive.com.

Prior was +1792KGasoline -1601K vs -690K expectedDistillates -2018K vs -842K expectedWTI crude oil was up 82-cents prior to the data and little changed afterwards. This article was written by Adam Button at investinglive.com.

I've been making the case for gold for a long time but I got nervous today watching CNBC and seeing Jim Cramer frothing about gold. He has long talked about holding 10% of your portfolio in gold, and that potion (based on almost any timeline) has now beaten the S&P 500.The thesis for gold is increasingly crystalized by the simple question: What's safer, the US dollar or gold?Enormous deficits, political dysfunction and geopolitical antagonization make that question an easy one to answer. Ken Griffin really touched on that point last week and yesterday, Ray Dalio echoed it.if you were to look at just from the strategic asset allocation mix perspective, you would probably have as the optimal mix something like 15% of your portfolio in gold," he said at the Greenwich Economic Forum. This article was written by Adam Button at investinglive.com.

The USDCHF extended its move higher today, breaking above the 50% retracement of the decline from the August 1 high. That midpoint, coming in at 0.79992 (essentially 0.8000), has been a key technical marker on the chart. Once buyers were able to push above it, the door opened for further gains, and the market responded by driving the pair toward the bottom of a swing resistance zone between 0.8017 and 0.80223.However, the momentum at those higher levels quickly stalled. Buyers couldn’t generate the follow-through needed to sustain a push into that resistance zone, and the pair rotated back lower. The pullback took the price back under the 0.8000 line, but importantly, support held near 0.7994, which had been both the prior weekly high and the top of a previous swing area. Holding that level kept buyers in control and prevented sellers from seizing momentum.At this stage, the technical picture remains constructive for the upside, but the pair is at a critical inflection point. The ability of buyers to regroup and defend the 0.7994 level will be crucial. A sustained move below that level would undermine the bullish bias and likely invite deeper corrective pressure. On the other hand, holding above it keeps the bullish case alive, and a rotation back to the upside would bring 0.8017–0.8022 back into focus as the next hurdle. Beyond that, further topside targets could be explored if momentum re-emerges.For traders, the setup is straightforward: 0.7994 is the line in the sand. Staying above keeps the advantage with buyers, while a break below shifts the balance of power and suggests the rally may have run its course—for now. This article was written by Greg Michalowski at investinglive.com.

Copper prices took off this month after a tragic mudslide at Freeport McMoran's Grasberg mine. It has led to the idling of the world's second-largest mine and tipped the market into a deficit, according to Goldman Sachs.It will take until 2027 for that production to fully come back online. At some point, Cobre Panama should also come back online. It's the 10th biggest mine but has been halted by Panamanian authorities due to social unrest.The biggest signal though might be coming from QB2, which is Teck Resources new mine. It's turning into a lemon. The company cut ties with its chief operating officer at the mine last month after huge cost overruns and poor production. Today, Teck cut its guidance through 2028 (midpoint shown):2025: Guidance 180 kt vs Consensus 208 kt2026: Guidance 217.5 kt vs Consensus 257 kt2027: Guidance 257.5 kt vs Consensus 274 kt2028: Guidance 237.5 kt vs Consensus 272 ktCash costs are now $2.65-$3.00 lb as well and the company noted further downside risks to production in 2026 and 2027 if sand drainage or mechanical raises are not successful.The news highlights just how hard it is get new copper. The construction of the project was approved in 2018 (after decades of development) and it's been a headache from the start. The timelines are huge to bring copper projects online and we're just beginning to see the scope of demand for copper from electrification and grid upgrades. This article was written by Adam Button at investinglive.com.

Gold hit a fresh record at $4049 today and is trading at $4039, up $56 on the day. It blew right through $4000 today in a very impressive move. Yesterday's shallow dip was bought aggressively in a sign that many are waiting on the sideline and looking to get in.Here is a chart from TD Cowen showing why. It highlights that gold holdings in ETFs aren't particularly high. People piled in briefly post-covid but that money came out in 2024 and has only started to go back in. That's a sign that retail isn't yet loaded up on gold, which is the kind of thing that will happen at the top. This article was written by Adam Button at investinglive.com.

The USDCAD entered the new trading day confined to an unusually tight 30-pip trading range, dating back to the start of Friday’s session. Such a narrow band rarely lasts long, and it puts traders on alert for an eventual breakout with momentum. Overnight, in the late Asian Pacific and early European sessions, buyers attempted to force the issue to the upside, briefly pushing above 1.39685. However, the rally quickly fizzled, stalling at 1.3971 before reversing lower.That failure opened the door for sellers, who took control by driving the pair back beneath both the 200-day moving average and the 100-hour moving average, converging near 1.3956. The move extended to the bottom of the range at 1.39388, and even slipped fractionally below during the current hourly bar. Still, much like the earlier upside attempt, momentum failed to materialize in full. Sellers are pressing their advantage, but the market has yet to deliver the decisive follow-through they need.What’s clear is that such a tight range will not persist indefinitely. History shows currency pairs cannot sit in a 30-pip box for long—eventually, something has to give. Whether the break comes to the upside or the downside, traders should be prepared. When momentum finally appears, the move is likely to be sharp, and those positioned correctly will have the chance to capture meaningful extension beyond this period of consolidation. Anticipate the future. The consolidated price action sets that trade idea up. This article was written by Greg Michalowski at investinglive.com.

Nvidia CEO Jensen Huang is on CNBC at the moment and he was asked about investing in startups and where he would like to invest. He repeatedly talked about Cursor, which is an AI-powered code editor and development tool that he says everyone at Nvidia is using.More generally, he was asked about four areas he was looking to invest in, which is another way of highlighting where he thinks AI is going to succeed. He mentioned:Enterprise AIRobotics (mentioned FSelf-driving carsDiagnosis (mentioned Open Evidence)Enterprise AI means integrating AI into the core systems of a business like finance, logistics, HR and customer service.This was another revealing quote:"AI is energy, it's chips, it's infrastructure, it's AI models and it's AI application," he said, noting that all those areas are growing.In terms of risks, he said that the US isn't very far ahead of China at all, noting that China is well-ahead of the US on energy. In terms of models, he noted that Chinese open-source models are ahead of the US. This article was written by Adam Button at investinglive.com.

The USD is trading higher, with USDJPY extending its climb toward the next key target at 153.397, the 61.8% retracement of the range from the July 2024 high. Yesterday, the pair pushed decisively above the 50% retracement at 150.757 and broke through a swing area between 150.75–151.307, reinforcing bullish momentum. With the trend firmly to the upside, short-term sellers looking for opportunities will need to focus on the 5-minute chart, watching for breaks below the 100/200-bar moving averages and retracement levels of the most recent leg higher. While such moves may not shift the broader trend, they could provide buyers with a reason to pause and allow sellers a small tactical win.The EURUSD and the GBPUSD both moved to new lows for the week before rebounding.In the video, I take a look at the three major currency pairs, the EURUSD, USDJPY and GBPUSD from a technical perspective and outline the bias and risk/target levels for each. In other news overnight as NA traders enter for the day, the Reserve Bank of New Zealand surprised markets with a larger-than-expected 50 basis point cut to its Official Cash Rate, lowering it from 3.0% to 2.5%. While a 25bp reduction had been widely anticipated, policymakers opted for a bigger move, citing prolonged spare capacity in the economy and weak activity through mid-2025. The Committee emphasized that while inflation is currently near the top of its 1–3% target band, it expects inflation to ease back toward the 2% midpoint by the first half of 2026. Officials highlighted risks on both sides of the outlook, noting the potential for more persistent inflation but also weaker growth. They left the door open to further cuts if needed to ensure inflation stabilizes around the target, with financial conditions set to remain sensitive to the current and expected path of the OCR. Markets reacted swiftly, with NZD/USD marked down on the decision.In Germany, industrial production fell sharply in August, dropping 4.3% month-on-month—much worse than the 1% decline expected. The weakness was concentrated in the automotive sector, where output plunged 18.5% due to factory closures and model changeovers. Over the June–August period, production was down 1.3% compared to the previous three months, highlighting a broader slowdown. The steep decline has raised concerns that Germany could face another quarter of economic contraction, following a 0.3% drop in GDP during Q2A slew of ECB officials spoke today: Georg Muller emphasized that eurozone inflation is now at the level policymakers want, reinforcing confidence in the ECB’s current stance. He described the economy as being on a gradual path of recovery, with the base case pointing to steady improvement over time.Olli Rehn cautioned that while the current situation looks stable, medium-term downside risks to inflation are emerging. He pointed to the stronger euro and stabilization in wage and services inflation as key factors and underscored the need for a cautious, meeting-by-meeting, data-driven approach to monetary policy.José Luis Escrivá argued that interest rates are already at an appropriate level and further forward guidance is unnecessary. He said inflation risks are balanced overall, but warned that US trade disruptions could be inflationary. He reaffirmed that the ECB’s meeting-by-meeting strategy preserves full optionality, allowing flexibility if conditions change.Joachim Nagel took a more positive view, stressing that current monetary policy is well-calibrated. He noted that inflation is close to the 2% target and is expected to remain near that level in the coming years, leaving the ECB in a comfortable position.With the government still in shutdown mode and key economic data on hold, Fed officials are stepping in to fill the gap with a busy day of remarks. A number of policymakers are scheduled to speak, ensuring markets get no shortage of Fedspeak. Adding to the spotlight, the central bank will also release the minutes from its recent meeting, where rates were cut by 25 basis points. Below is the schedule of speakers and times:1320 GMT / 0920 US Eastern time St. Louis Federal Reserve Bank President Alberto Musalem gives welcome remarks before the 2025 Community Banking Research Conference at the Federal Reserve Bank of St. Louis.1330 GMT / 0930 US Eastern time Federal Reserve Board Governor Michael Barr speaks at the 2025 Community Banking Research Conference in St. Louise, Missouri.1800 GMT / 1400 US Eastern time Federal Reserve releases FOMC minutes1915 GMT / 1515 US Eastern time Federal Reserve Bank of Minneapolis President Neel Kashkari speaks before Day 1 of the Center for Indian Country Developments 10-Year Anniversary Event and Data Summit2030 GMT / 1630 US Eastern time Federal Reserve Bank of Minneapolis President Neel Kashkari hosts a fireside chat before Day 1 of the Indian Country Development's 10-Year Anniversary Event and Data Summit2145 GMT / 1745 US Eastern time Federal Reserve Board Governor Michael Barr speaks on community development and Indian Country the Federal Reserve Bank of Minneapolis Center for Indian Country Development 10th Anniversary and Data Summit2315 GMT/ 1915 US Eastern time Federal Reserve Bank of Chicago President Austan Goolsbee speaks before virtual Chicago Payments Symposium 2025Silver moved above the $49 level for the first time and made another high going back to 2011. The all-time intraday high price from 2011 comes in at $49.83.Gold is up an additional $51 or 1.39% and extend back above the $4000 level at $4036. Crude oil is up $0.87 or 1.41% $62.60.Bitcoin extended to a new all-time high price this week at $126,272. Yesterday, it rotated back to the downside to a low of $120,648. The current price is back higher with the digital currency currently trading at $122,918.The US stock indices are higher after falling yesterday and NOT closing at a new record: Dow industrial average is up 86.02 pointS&P index is up 7.16 pointNASDAQ index is up 23.52 pointsLooking at the US yield curve, yields are lower to start the day despite the rise in the US dollar. At 1 PM, the U.S. Treasury will auction off 10 year notes - its 2nd coupon auctions for the week. The 3-year note auction yesterday was met with strong demand especially from domestic buyers. A snapshot of the ocher currently shows: 2-year yield 3.563%, -0.8 basis points5 year yield 3.690%, -1.5 basis points10 year yield 4.099%, -2.7 basis points30 year yield 4.691%, -3.5 basis points This article was written by Greg Michalowski at investinglive.com.

Headlines:Another day where both gold and the dollar are standing outUSD/JPY ramps higher as the upside breakout continues this weekGold continues to print record highs: US government shutdown keeps bearish risks awayEU reportedly sees fresh US demands on trade as undercutting current agreementECB's Nagel: Current monetary policy is appropriateECB's Rehn: Current situation is good but medium-term downside risks visibleECB's Escrivá: We are at appropriate level of interest rates, no need for further guidanceECB's Muller: Inflation is where we want it to beGermany August industrial production -4.3% vs -1.0% m/m expectedUS MBA mortgage applications w.e. 3 October -4.7% vs -12.7% priorUK stats office deals with another blunder, this time in public finances dataMarkets:USD and CAD lead, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.1%US 10-year yields down 2.5 bps to 4.101%Gold up 1.3% to $4,035.99WTI crude up 1.4% to $62.58Bitcoin up 0.7% to $122,918The US government shutdown drags on and that continues to give market players very little to work with in trading this week.But amid political developments in Japan and France, the dollar continues to find bids alongside gold once again. USD/JPY is seen ramping higher to 152.70, up 0.5% on the day as Sanae Takaichi fails to seek a coalition agreement with the Komeito party. Meanwhile, EUR/USD is down 0.2% to 1.1630 with the low earlier touching 1.1605 as the pair threatens a break under its 100-day moving average for the first time since March.Besides that, USD/CHF is up 0.2% to hover near 0.8000 again while NZD/USD is among the laggards and down 0.4% to 0.5775 on the day. The RBNZ surprised earlier with a 50 bps rate cut, prompting a sharp drop in the kiwi but it is at least off the lows now.In other markets, stocks are seen finding back some renewed vigour after a bit of a pause yesterday. European indices were more pensive amid political risks in France but with French bond yields dropping back, we're seeing a notable rebound today. The DAX is up 0.6% with the CAC 40 up 0.9% on the session currently.This comes as US futures are also nudging back a little higher, with S&P 500 futures up 0.2% after tech shares led declines in the day before.In the commodities space, gold remains one of the major standouts once more as it cruises past the $4,000 mark without any hiccups - at least for now. The precious metal is up over 1% to $4,035 and is looking to firm up a move above the key level while silver is also up over 2% to briefly clip the $49 mark for the first time since April 2011. Up, up, and away! This article was written by Justin Low at investinglive.com.

Their previous forecast bump came in August, in expecting silver prices to average $35.14 per ounce this year. That is already a marked revision higher from the forecast before that of $30.28 per ounce. But now, HSBC is seeing silver prices to average $38.05 per ounce with the year-end forecast target of $49 per ounce.Looking to next year, the firm forecasts silver prices to average $44.50 per ounce - up from the previous forecast of $33.96 per ounce. The year-end target for 2026 though is for silver to drop to $41.50 per ounce.That being said, HSBC is looking for an even higher high next year for silver in noting that: "The silver market stands on the cusp of the record high of nearly $50/oz set in May 2011, but is likely to surpass that level in the near-term. We look for a wide $45.00- 53.00/oz range for the remainder of 2025 and a wide $40.00-55.00/oz range next year."Before adding that the gold rally will continue to benefit silver prices heading into the year ahead: "Gains in gold attract ancillary buying in silver."It's an argument that they are doubling down on after their August note mentioned that: "The latest rally is due more to silver's relationship with gold than to underlying fundamentals."Further noting at the time that as gold pushes to fresh record highs, it is exerting a "strong gravitational pull" on silver prices as well. This article was written by Justin Low at investinglive.com.

Market index 323.1 vs 339.1 priorPurchase index 170.6 vs 172.2 priorRefinance index 1180.2 vs 1278.6 prior30-year mortgage rate 6.43% vs 6.46% priorThis is never a market moving release. Mortgage applications are generally inversely correlated to mortgage rates. This article was written by Giuseppe Dellamotta at investinglive.com.

Fundamental OverviewThe S&P 500 remains supported by the current US government shutdown as it keeps bearish risks away. In fact, the delay of key US data like the NFP is keeping monetary policy expectations steady and doesn’t give the Fed members much to work with. As long as the Fed continues to cut interest rates and keeps a dovish reaction function, the stock market will remain skewed to the upside on steady growth expectations. What could trigger a bigger pullback is a hawkish repricing in the current interest rates expectations. That will require strong labour market data though, or clear inflation re-acceleration. S&P 500 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the S&P 500 is consolidating above the previous all-time high around the 6,756 level which is acting as support. The buyers will likely continue to step in around the support with a defined risk below it to keep targeting new highs. The sellers, on the other hand, will want to see the price breaking lower to target a pullback into the 6,611 level next.S&P 500 Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that we have a minor upward trendline defining the bullish momentum which is also adding confluence to the 6,756 support. Again, this is where we can expect the buyers stepping in to keep targeting new highs, while the sellers will look for a break lower to target a drop into the 6,680 level. S&P 500 Technical Analysis – 1 hour TimeframeOn the 1 hour chart, there’s not much else we can add here as the buyers will continue to lean on the support, while the sellers will wait for a break lower to pile in for new lows. The red lines define the average daily range for today.Upcoming CatalystsToday we have the FOMC meeting minutes. Tomorrow, we have Fed Chair Powell speaking and the US Jobless Claims report (if the shutdown is lifted). On Friday, we conclude the week with the University of Michigan Consumer Sentiment report. This article was written by Giuseppe Dellamotta at investinglive.com.

Economy still on gradual path of growthBase case is there is gradual recovery in economyMuller made similar comments in the past weeks. Again, the majority of the ECB members are just waiting to see how the economy evolves in the next few months but won't overreact to small or short-term deviations to their 2% target, unless we get some clear shock. This article was written by Giuseppe Dellamotta at investinglive.com.