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USD/CAD gains ground for the second successive day, trading around a new six-month high of 1.4043 during the Asian hours on Tuesday.

The Japanese Yen (JPY) drifts lower for the second consecutive day on Tuesday amid expectations that domestic political chaos could further delay the Bank of Japan’s (BoJ) rate hike plans. Apart from this, the upbeat market mood is seen undermining the JPY’s safe-haven status.

The Japanese Yen (JPY) drifts lower for the second consecutive day on Tuesday amid expectations that domestic political chaos could further delay the Bank of Japan’s (BoJ) rate hike plans. Apart from this, the upbeat market mood is seen undermining the JPY’s safe-haven status.

• Japan finmin Kato says recently seeing one-sided, rapid moves (referring to the yen)
• Silver hits record above $52.70 as squeeze intensifies; Goldman warns of volatility
• Chinese media defends rare earth controls, accuses U.S. of abuse of export restrictions
• Federal Reserve Chair Powell is speaking Tuesday. Bowman, Waller, Collins also on deck.
• JPMorgan to double Asia assets to $600 billion by 2030, targets $1 trillion long term
• RBA says Australian dollar near equilibrium, not adding to tighter financial conditions
• PBOC sets USD/ CNY central rate at 7.1021 (vs. estimate at 7.1353)
• China commerce ministry urges the US to correct its wrong practices
• RBA minutes – Signals patience on rate cuts, says policy still slightly restrictive
• Australian business confidence jumps to+7 in September, from +4 in August
• Bank of America sees gold at US$5,000, silver at US$65 by 2026 amid US policy risks
• PBOC is expected to set the USD/CNY reference rate at 7.1353 – Reuters estimate
• USD/SGD not a lot changed after the as expected Monetary Authority of Singapore hold
• MAS leaves policy unchanged, as widely expected
• JPMorgan blames leveraged ETFs for worsening Wall Street selloff, warns of more to come
• China has officially begun levying port fees on US ships
• Reserve Bank of New Zealand to ease LVR restrictions
• UK retail sales slow as households brace for Reeves budget, Barclays and BRC say
• Staunch Trump ally Taylor Greene rings alarm bells on tariffs, deports, harm to business
• Rabobank expects AUD/USD to stay near 0.65 short term, rise to 0.68 over 12 months
• Goldman: Trump trade policy now key driver of US inflation. See tariffs delaying Fed cuts.
• New Zealand data: September Card Spending Retail -0.5% m/m (prior +0.6%)
• investingLive Americas FX news wrap 13 Oct: US stocks claw back some declines. USD rises.
• BofA says AI boom unlike dot-com bubble; Nvidia remains top chip pick
• Australia – NAB Business Survey in focus as inflation pressures test RBA outlook
• US major indices claw back some of the declines
• Goldman Sachs warns U.S. shutdown could be one of the longest in history

Singapore’s economy expanded faster than expected in the third quarter, even as the central bank cautioned that growth will likely moderate in 2026.

• Gross domestic product rose 2.9% year-on-year in the three months to September, topping forecasts for a 1.9% gain but slowing from a revised 4.5% in Q2.

The Monetary Authority of Singapore kept policy unchanged, maintaining the current rate of appreciation in the S$NEER band, with the width and midpoint left steady.

In Australia, business confidence improved, with the NAB index rising to +7 in September from +4 in August, while business conditions held steady as stronger sales and profitability offset softer employment.

Minutes from the Reserve Bank of Australia’s September meeting signalled patience on further rate cuts, with policymakers saying monetary policy remains slightly restrictive but that previous easing is supporting housing activity.
The bank said the Australian dollar’s modest appreciation, driven by widening yield differentials, is in line with fundamentals and not adding to financial tightening.

In China, the Commerce Ministry confirmed it had notified the U.S. in advance of its new rare earth export controls and held working-level talks on Monday under existing trade consultation channels. Beijing criticised Washington for “imposing new restrictions while seeking dialogue” and urged it to act with sincerity, reiterating that cooperation benefits both sides while confrontation harms both.

Major currencies traded in narrow ranges, while gold and silver rocketed to fresh record highs as precious-metals momentum continued amid tight physical markets and strong speculative interest.

Asia-Pac
stocks:

• Japan
  (Nikkei 225) -1.2%
• Hong
  Kong (Hang Seng)+0.44 %
• Shanghai
  Composite +0.64%
• Australia
  (S&P/ASX 200) +0.03%

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

Japan finmin Kato:

• Won’t comment on forex levels
• Recently seeing one-sided, rapid moves
• Important for currencies to move in stable manner reflecting fundamentals
• Interest rates are driven by various factors
• Important for government to closely monitor bond market development
• Will closely continue dialogue with market participants, pursue appropriate bond management policies
• Will assess economic impact of U.S.-China trade rows
• Up to BOJ to decide on monetary policy decisions
• Believe growth strategies were not sufficient under Abenomics

Kato is the boy who cried wolf. Actually, let me restate that, Kato is the boy who cried.

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

Silver prices surged to a record high above $52.50 an ounce, surpassing the 1980 peak, as a tightening physical market and elevated borrowing costs fuelled a powerful rally.

Lease rates — the cost of borrowing silver in London — have been exceptionally high throughout 2025 and spiked above 30% on a one-month basis on Friday, creating steep costs for traders maintaining short positions.

Analysts at Goldman Sachs said the rally has been intensified by the metal’s smaller and less liquid market, which is about one-ninth the size of gold’s, making prices more volatile. They warned that, unlike gold, silver lacks central-bank demand to stabilise prices, meaning even a modest pullback in investment flows could trigger a sharp correction as London market tightness unwinds.

—

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

Tata Electronics seeks to expand iPhone manufacturing capacity as Apple aims to make all of the iPhones intended for the U.S. market in India by end-2026.

The flare-up in tensions between the U.S. and China over the weekend points to deteriorating trust between the world’s two largest economies, analysts said.