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Australia National Australia Bank’s Business Confidence climbed from previous 4 to 7 in September

Australia National Australia Bank’s Business Conditions rose from previous 7 to 8 in September

Bank of America expects precious metals to extend their rally into 2026.

• Forecasting gold at $5,000 an ounce and silver at $65 an ounce.

Analysts at the bank said the White House’s unconventional policy approach, marked by:

• large fiscal deficits,
• rising debt,
• and pressure to lower interest rates

should continue to support demand for gold. Those policies, it said, are likely to weaken the U.S. dollar and reinforce demand for hard assets as investors hedge against inflation and policy uncertainty.

The bullish call underscores BofA’s view that gold’s multi-year rally is not yet over, even after record highs in 2025, as macro and political conditions continue to favour safe-haven flows.

This article was written by Eamonn Sheridan at investinglive.com.

People’s Bank of China USD/CNY reference rate is due around 0115 GMT.

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.

How the process works:

• Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day’s trading.
• The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
• Intervention: If the yuan’s value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency’s value.

This article was written by Eamonn Sheridan at investinglive.com.

There was a wobble for the Singapore dollar, but it soon calmed to be be not much changed.

• MAS leaves policy unchanged, as widely expected

The Monetary Authority of Singapore (MAS) kept monetary policy unchanged, as widely expected

• maintaining the current rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) band
• the width and midpoint of the band were also left steady

The central bank said economic growth has been stronger than expected, with the output gap to stay positive through 2025 before returning to balance next year. It expects core inflation to bottom out soon and rise gradually in 2026 as temporary disinflationary factors fade.

The decision came alongside data showing Singapore’s economy expanded 2.9% year-on-year in Q3.

This article was written by Eamonn Sheridan at investinglive.com.

Singapore Gross Domestic Product (QoQ) above expectations (0.3%) in 3Q: Actual (1.3%)

Singapore Gross Domestic Product (YoY) above forecasts (2%) in 3Q: Actual (2.9%)

Singapore Gross Domestic Product (YoY) above forecasts (2%) in 3Q: Actual (2.9%)

The Monetary Authority of Singapore (MAS) wass widely expected to keep policy unchanged at its meeting. 10 of 14 analysts in a Reuters poll forecasting no adjustments to its exchange-rate based framework.

MAS maintained the prevailing rate of appreciation and kept the band’s width and centre unchanged.

more to come

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Data also released;

Singapore GDP Q3 2.9% y/y

• expected 2.0%, prior 4.4%

+1.3% q/q

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The MAS, which manages policy through the slope, width, and midpoint of the Singapore dollar nominal effective exchange rate (SGD NEER) band, last left settings steady in July, maintaining the prevailing rate of appreciation and keeping the band’s width and centre unchanged.

This article was written by Eamonn Sheridan at investinglive.com.

Japan Money Supply M2+CD (YoY) rose from previous 1.3% to 1.6% in September