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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
FTSE 100, DAX 40, and NASDAQ 100 indices are experiencing rallies amid hopes for de-escalation in the Middle East. The FTSE 100 rebounded from a low of 8,222, while the DAX 40 approached its recent highs, and the NASDAQ 100 surged towards its July record high of 20,760, maintaining a medium-term uptrend.
The US dollar remains the dominant global currency, holding 62% of foreign exchange reserves, while the euro trails at 20%. Despite efforts from BRICS nations to establish alternatives, the dollar's unique attributes—such as a large economy, liquid capital markets, and free tradability—ensure its continued supremacy. The euro is the only potential challenger, but its structural flaws hinder confidence in its viability.
AUD/USD is poised for its largest monthly decline since September 2022, with an expected drop of about 4.8% in October, closing last week at 0.6604. The upcoming US election could further impact the currency pair, with a potential Republican sweep likely to strengthen the USD, while a divided Congress may support AUD/USD. Technical analysis indicates a bearish trend, with key support levels at 0.6500 and 0.6380 - 0.6350.
The SMI closed higher, with Sonova experiencing significant gains, while Wall Street showed firmness. In Asian currency trading, the yen fell to 153.55 per US dollar amid political shifts, with analysts predicting a potential rise to 155 yen as the Bank of Japan deliberates on interest rates. The dollar also strengthened against the yuan and Swiss franc, while the euro remained stable against the dollar.
The global art market shows signs of resilience despite a 32% drop in average spending in 2023, with median values remaining stable. Wealthy collectors, particularly from China, are optimistic, with 91% expecting market growth, and they increasingly support new galleries and emerging artists. The proportion of works by women in collections has also risen to a seven-year high, reflecting a shift in purchasing behavior towards informed decisions rather than impulse buys.
Swiss banks are cautioning against overregulation as the country remains a leader in international asset management, with nearly $2,200 billion managed for foreign clients. However, this status is jeopardized by a tarnished reputation following the collapse of Credit Suisse in March 2023.
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10:22 28.10.2024
Japanese Yen
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St. Galler Kantonalbank AG
IND
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ARG
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CHN
Thomas Stucki
Milei
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09:25 28.10.2024
New Zealand Dollar
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Reserve Bank of Australia
Apple Inc.
AUS
USA
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CHN
Kamala Harris
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06:15 28.10.2024
06:09 28.10.2024
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UBS AG
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Noah Horowitz
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12:02 27.10.2024
18:39 24.10.2024
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