News

The Euro (EUR) trades on the front foot against the Swiss Franc (CHF) on Friday as fading safe-haven demand keeps the CHF under pressure. At the time of writing, EUR/CHF is trading around 0.9287, holding firm near a two-week high as investors digest the latest Eurozone inflation figures.

Dallas Federal Reserve (Fed) President Lorie Logan said on Friday that she did not see a need to cut rates this week; explaining that the economic outlook did not call for it, per Reuters.

Dallas Federal Reserve (Fed) President Lorie Logan said on Friday that she did not see a need to cut rates this week; explaining that the economic outlook did not call for it, per Reuters.

EUR/USD shows marginal losses on Friday, trading at 1.1560 at the time of writing, after having hovered without a clear bias during the Asian and European sessions at a short distance of the 1.1540 support area., The broader trend remains negative as the USD draws support from the dismal market mood

Cable extends steep fall into fourth straight day and probes through key supports at 1.3140 zone (Fibo 38.2% of 1.2099/1.3788 rally / former higher base, consisting of May 11 and July 27 lows), hitting the lowest levels since mid-April.

New Zealand Building Consents, September 2025: +7.2%

• prior +6.1%
• +27.3& for the y/y

percent higher than the same month a year ago.

Data from Statistics New Zealand.

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

Federal Reserve Governor Christopher Waller said Friday that the U.S. central bank should proceed with another interest rate cut in December, arguing that recent weakness in the labour market outweighs concerns about inflation — even as official data releases remain frozen by the government shutdown.

• “We know inflation is going to come back down,” Waller told Fox Business Network’s Larry Kudlow. “That’s why I’m still advocating that we cut policy rates in December. That’s what all the data is telling me to do.”

Despite the data blackout caused by the shutdown, Waller said the Fed still has enough information to guide monetary policy. He noted that underlying inflation pressures have eased, with core PCE inflation excluding temporary factors running near 2.5%, and that inflation expectations remain well anchored.

• He also urged policymakers to “look through” any price increases stemming from tariffs, which he described as having only a minor and temporary impact on inflation. “Inflation is coming back to 2%,” he said, adding that his “biggest concern now is the labour market.”
• Waller rejected suggestions that the data gap should cause the Fed to pause policy moves. “Data fog does not tell you to stop,” he said. “The right thing to do with policy is keep cutting.”

When asked about his own future, Waller signalled he would be open to leading the central bank if nominated. “If the president asked me to be Chair, I’d say yes,” he told Kudlow.

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

JPY, JGB, Nikkei, UST traders note – it’s a market holiday in Japan today.

It’s a Japanese market holiday today for Culture Day.

The yen will continue to trade, of course:

• New Zealand
• Australia
• Singapore
• Hong Kong

markets are all open. Interest and liquidity will be thinned out somewhat though.

If you hate the yen and want to keep selling it its unlikely we’ll get any Japanese Ministry of Finance verbal intervention today. Not that anyone cares too much about what they have to say. As a wild card though, with liquidity thinned out it’d be a good day if the MoF/BoJ wanted to try some sort of intervention effort. If they do, don’t forget to BTD!

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

The US and Canada switched off daylight saving over the weekend. If you trade into North American markets you may need to adjust your times.

For those of us in Australia US RTH now begin an hour later in local time. If you are elsewhere its probably the same, but DYOR!

For the east coast of Australia RTH now begin at 01.30 am Tuesday to Saturday. Can’t wait! (OK …. yes, I’m crying on the inside 😉 )

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

Reserve Bank of New Zealand – publishes 2025 bank stress test results

• Large banks well placed to withstand solvency, liquidity impact of severe scenario caused by worsening geopolitical risks
• Participating banks in stress test were ANZ Bank New Zealand, ASB Bank, BNZ, Kiwibank & Westpac New Zealand

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