Moving Markets

Markets turned risk-off after early optimism. European stocks reversed gains, with the STOXX 600 down 0.6%. In the US, hawkish Federal Reserve comments erased the relief rally: the Nasdaq dropped 2.3%, Bitcoin fell back below USD 100,000, and gold eased slightly. Odds of a December rate cut slipped to 50% following remarks by several Fed members, lifting US Treasury yields. US president Trump plans tariff cuts on food imports to tackle inflation. Brent crude rebounded from midweek losses. The dollar softened, the Swiss franc strengthened, the yen hit a record low against the euro, and sterling remains volatile. Weak Chinese data weighed on Asian equities, led by technology losses. 

Tim Gagie, Head of FX Advisory Geneva, highlights that precious metals are trading with equity-like dynamics, the CHF goes from strength to strength, while the Japanese yen is under pressure.

  • (00:00) - Introduction: Bernadette Anderko, Product & Investment Content
  • (00:28) - Markets wrap-up: Mike Rauber, Product & Investment Content
  • (06:30) - FX and metals update: Tim Gagie, Head of FX Advisory Geneva
  • (10:51) - Closing remarks: Bernadette Anderko, Product & Investment Content

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What is Moving Markets?

Moving Markets is the home of podcasts at Julius Baer. Here, our expert teams share concise daily market updates in ‘Moving Markets Daily’ which is complemented by ‘Moving Markets: The View Beyond’, a weekly show dedicated to discussing the context, thematic angles, and investment implications behind key topics shaping the news cycle and conversations among our relationship managers and clients.

The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.