News

Companies that work with OpenAI and Salesforce will soon be able to sell products through ChatGPT’s instant checkout feature.

Federal Reserve (Fed) Chair Jerome Powell will deliver a speech on Economic Outlook and Monetary Policy at the National Associations for Business Economics (NABE) Annual Meeting in Philadelphia on Tuesday.

Meta will now limit the content that teenage users can see on Instagram to what they would typically encounter in a movie rated PG-13, the social media company said Tuesday.

Pound’s reversal against the Yen extended to fresh one-week lows at 201.34, hammered by a downbeat UK employment report and the risk-averse sentiment stemming from a new chapter of the Sino-US trade feud.Data from the UK released earlier on Tuesday revealed an unexpected increase in the jobless rate

The Pound Sterling (GBP) faces selling pressure against its peers on Tuesday after the release of the United Kingdom (UK) labor market data for the three months ending in August.

The Pound Sterling (GBP) faces selling pressure against its peers on Tuesday after the release of the United Kingdom (UK) labor market data for the three months ending in August.

• EU and US look to partner up to take on China’s rare earth clampdown
• US September NFIB small business optimism index 98.8 vs 100.6 expected
• Germany October ZEW survey current conditions -80.0 vs -74.8 expected
• China reportedly toughens process for firms to obtain rare earth magnet export licenses
• China’s Commerce Ministry: China hopes to resolve concerns through dialogue
• Germany September final CPI +2.4% vs +2.4% y/y prelim
• UK August ILO unemployment rate 4.8% vs 4.7% expected
• FX option expiries for 14 October 10am New York cut

Today’s session was mainly driven by the risk-off sentiment that started around 4:00 am GMT after the Chinese Commerce Ministry said that it took countermeasures against five US-linked firms. The Chinese did say that they are hoping to resolve concerns through dialogue but they are not afraid of “fighting to the end” if US wants a trade war. In the markets we’ve seen classic risk-off moves with equities, oil, yields, crypto, copper and so on dropping throughout the session.

The markets remain cautious considering that back in April it was the US that eventually had to back down. If that means that we need to wait for Trump to fold first and swallow his pride, then I’m afraid things could get worse before they get better.

The other highlight of the session was the UK employment report. The data was once again soft with the unemployment rate ticking higher and the employment numbers disappointing forecasts. Moreover, average weekly earnings increased with wage growth remaining elevated and likely limiting BoE’s response. Nonetheless, the markets increased BoE rate cut bets with two cuts now fully priced in by the end of 2026. The pound weakened across the board as a result.

In the American session, the only highlight is Fed Chair Powell’s speech although he’s unlikely to change his stance given that we haven’t got anything new in terms of economic data due to the US government shutdown.

The focus remains solely on US-China headlines as this renewed trade war could have serious economic impacts.

This article was written by Giuseppe Dellamotta at investinglive.com.

China will not allow the export of rare earth materials for use by foreign militaries under restrictions announced last week.

The AUD/USD pair is down over 1% to near 0.6440 during the European trading session on Tuesday.

Federal workers caught in the latest round of layoffs by the Trump administration may lose certain student loan benefits.