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Rents for both single- and multifamily homes are coming down, as more supply hits the market and demand weakens.

• Prior month -0.8%
• Retail sales for August 1.0% vs 1.0% estimate
• Retail sales ex Auto for August 0.7% vs 1.3% estimate. Prior month -1.2%
• Estimate for next month -0.7% for September
• sales increase in 6 of 9 subsectors on August. Declines in building materials and garden equipment, gasoline stations and fuel vendors, and sporting-goods and miscellaneous retailers.

Details:

• The largest increase in retail sales in August was observed at motor vehicle and parts dealers (+1.8%), up for a third consecutive month. The increase was led by higher sales at new car dealers (+2.3%) and, to a lesser extent, used car dealers (+1.5%).
• Sales at gasoline stations and fuel vendors (-2.0%) decreased for a second consecutive month in August. In volume terms, sales at gasoline stations and fuel vendors decreased 2.6%.
• Higher sales were also recorded at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers, up 3.2% in August
• The largest decrease in core retail sales in August came from building material and garden equipment and supplies dealers (-0.3%).

Looking at the provinces:

• Retail sales increased in five provinces in August. The largest provincial increase in dollar terms was observed in Ontario (+1.2%) on higher sales at motor vehicle and parts dealers. In the census metropolitan area (CMA) of Toronto, retail sales were up 2.4% in the month.
• In Quebec, retail sales increased 1.8% in August, marking a third consecutive monthly increase. In the CMA of Montréal, retail sales were up 2.3%.
• The largest provincial decrease in retail sales in August was observed in Nova Scotia (-0.5%). This decrease was led by lower sales at motor vehicle and parts dealers.

The USDCAD is little changed after the report. Yesterday, the price stalled at the high against the 100 and 200 hour moving averages. Those moving averages for topside resistance. On the downside, an old consolidation area between 1.3931 and 1.3970 are the downside targets.

This article was written by Greg Michalowski at investinglive.com.

• Prior month -0.8%
• Retail sales for August 1.0% vs 1.0% estimate
• Retail sales ex Auto for August 0.7% vs 1.3% estimate. Prior month -1.2%
• Estimate for next month -0.7% for September
• sales increase in 6 of 9 subsectors on August. Declines in building materials and garden equipment, gasoline stations and fuel vendors, and sporting-goods and miscellaneous retailers.

Details:

• The largest increase in retail sales in August was observed at motor vehicle and parts dealers (+1.8%), up for a third consecutive month. The increase was led by higher sales at new car dealers (+2.3%) and, to a lesser extent, used car dealers (+1.5%).
• Sales at gasoline stations and fuel vendors (-2.0%) decreased for a second consecutive month in August. In volume terms, sales at gasoline stations and fuel vendors decreased 2.6%.
• Higher sales were also recorded at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers, up 3.2% in August
• The largest decrease in core retail sales in August came from building material and garden equipment and supplies dealers (-0.3%).

Looking at the provinces:

• Retail sales increased in five provinces in August. The largest provincial increase in dollar terms was observed in Ontario (+1.2%) on higher sales at motor vehicle and parts dealers. In the census metropolitan area (CMA) of Toronto, retail sales were up 2.4% in the month.
• In Quebec, retail sales increased 1.8% in August, marking a third consecutive monthly increase. In the CMA of Montréal, retail sales were up 2.3%.
• The largest provincial decrease in retail sales in August was observed in Nova Scotia (-0.5%). This decrease was led by lower sales at motor vehicle and parts dealers.

The USDCAD is little changed after the report. Yesterday, the price stalled at the high against the 100 and 200 hour moving averages. Those moving averages for topside resistance. On the downside, an old consolidation area between 1.3931 and 1.3970 are the downside targets.

This article was written by Greg Michalowski at investinglive.com.

Canada Retail Sales (MoM) in line with expectations (1%) in August

Canada retail sales will be released at 8:30 AM. Last month the data showed a -0.8% decline. In August, the expectations is for a 1.0% gain. Ex-auto the expectations are for a 1.3% rise after a fall of -1.2% last month.

This article was written by Greg Michalowski at investinglive.com.

The companies’ CEOs labelled the plans “a pivotal milestone for Europe’s space industry.”

Social Security beneficiaries will soon find out the size of the cost-of-living adjustment for 2026. There’s a debate over the way those increases are measured.

Headlines:

• Heads up: US-China trade talks will begin tomorrow in Malaysia
• Trump’s visit to Malaysia looks to be a twofold one
• The tug of war continues for gold in trading today
• Oil continues its resurgence this week, buoyed by US and EU sanctions against Russia
• SNB Minutes: Inflation is not expected to become persistently negative
• BoE’s Dhingra: Expect US tariffs to put downward pressure on growth and prices
• Japan’s largest union group Rengo seeks 5% wage hike for the coming fiscal year
• France October business confidence 97 vs 96 prior
• UK October CBI trends total orders -38 vs -27 prior

Markets:

• AUD leads, JPY lags on the day
• European equities mixed; S&P 500 futures down 0.2%
• US 10-year yields up 3.6 bps to 3.99%
• Gold up 0.4% to $4,112.55
• WTI crude oil up 3.7% to $61.56
• Bitcoin up 1.2% to $109,008

The session was a relatively quiet one though the market moves were fairly modest. There weren’t any major headlines in Europe as markets continue to wait on US-China developments as well as the Fed meeting next week. Once again, we’re starved of key US economic data so that isn’t making for anything too exciting.

In FX, major currencies weren’t up to much but the yen is seen weaker once again as the fallout from Takaichi’s premiership victory continues to play out. USD/JPY ramped higher during the session, moving up from 152.20 to 152.60-70 levels and keeping thereabouts now.

Besides that, the dollar is trading steadier with just a slight advance against the European currencies but down against the antipodes. Overall, there’s nothing to really shout about in the major currencies space.

As for equities, the mood music is fairly mixed. European indices are already showing a mixed performance with French stocks holding slight gains with the CAC 40 index near record highs while the DAX is down, keeping more tepid so far after the Monday slump. US futures are also lower, with yesterday’s selling still keeping investors more cautious today.

In the commodities space, we are seeing precious metals bounce back with gold keeping just above $4,100 but still trying to find its footing after the heavy selling since the end of last week. Oil is the standout mover though, with prices buoyed after the EU joined the US in announcing more sanctions against Russia. And that’s pushing up WTI crude by nearly 8% this week with price now climbing to $61.56 on the day – the highest in two weeks.

This article was written by Justin Low at investinglive.com.

The USD is higher vs the EUR, JPY and GBP to start the North American trading session. IN the video above, I will take a look at the three major currency pairs from a technical perspective given the price action and outline the bias, the risks and targets for traders today. Watch and be ready for your trading day.

The USDCHF is higher to start the day and above the 200 hour MA at 0.79866. Yesterday, the MA stalled the rally, but was broken and based against the level giving the buyers control. Today, the Swiss National Bank (SNB) September minutes highlighted discussions with experts about diverging interest rate trends between the U.S. and the Eurozone. The Board concluded that the current monetary stance remains appropriate across various scenarios. The SNB noted that geopolitical tensions could push investors toward safe-haven currencies like the Swiss franc, though this appreciation risk is mitigated by the higher relative interest rate differential. Despite global trade concerns and tariffs, the overall Swiss economic outlook remains stable. The SNB reaffirmed its policy rate at the zero lower bound, maintained FX intervention guidance, and kept the tiered deposit system in place. Inflation forecasts for 2025–2027 were unchanged, and Chairman Schlegel reiterated that any move toward negative rates would face a higher threshold than a standard rate cut.

Looking at the earnings released today, most of the companies BEAT expectations. Yesterday after the close Tesla missed on the EPS ($0.50 vs $0.56) but beat on revenues ($28.09B vs $26.54B est) . The shares are down -3.87% in pre-market trading.

• Mobileye (MBLY) Q3 2025: EPS $0.09 (BEAT; exp. $0.08), Revenue $504M (BEAT; exp. $485.5M)

• American Airlines (AAL) Q3 2025: EPS -$0.17 (BEAT; exp. -$0.26), Revenue $13.7B (BEAT; exp. $13.64B)

• T-Mobile US (TMUS) Q3 2025: EPS $2.41 (BEAT; exp. $2.41), Revenue $22B (BEAT; exp. $21.93B)

• Blackstone (BX) Q3 2025: EPS $1.52 (MISS; exp. $1.23), Revenue $3.09B (MISS; exp. $3.14B)

• Dow (DOW) Q4 2025: EPS $0.49 (MISS; exp. $0.48), Revenue $9.4B (MISS; exp. $10.19B)

• Valero Energy (VLO) Q3 2025: EPS $3.66 (BEAT; exp. $3.32), Revenue $32.17B (MISS; exp. $29.39B)

• PG&E Corp (PCG) Q3 2025: EPS $0.50 (BEAT; exp. $0.41), Revenue $6.25B (MISS; exp. $6.39B)

• Honeywell International (HON) Q3 2025: EPS $2.82 (BEAT; exp. $2.57), Revenue $10.41B (BEAT; exp. $10.16B)

The major indices are trading lower in premarket trading

• Dow industrial average -99.41 points
• S&P index -10.06 points
• NASDAQ index. -70.01 point

Looking at the US debt market, yields are higher.

• 2-year yield 3.467%, +2.3 basis points
• 5 year yield 3.586%, +3.3 basis points
• 10 year yield 3.989%, +3.6 basis points
• 30 year yield 4.576%, +3 point basis points

Gold is higher by $9.02 26 or 0.22% at $4106.

Crude oil is up around $3 at $61.51.

This article was written by Greg Michalowski at investinglive.com.