NVDA $5trn / OpenAI 'for profit' / AUD inflation up / XAG 6% off lows / FOMC minutes up next, BoJ and ECB tom
- Stéphan
- Oct 29
- 2 min read
China officially announces to make Petroyaun deals with Arab states in currencies instead of Petro-dollar agreements (it's a trend)
Markets : NVDA 3% away from $5trn valuation, crude lower again (glut ocncerns resurface), GOLD correction (trade truce maybe, it was way too overbought..decent bounce already, Silver up 5% off lows..), Trump and his social network 'prediction trading' (also known as insider trading..), OpenAi is now 'for profit' - surprising anyone believed him on the inset of the non profit set-up.., BoC and FOMC tonight (no data, so FED 'on hold', CPI bakes the next 25bp cut, no new guidance likely), BoJ tom early (wide range of risk-expectations, guidance Dec hike? only 50% priced in, and ECB meeting too (on hold), Ozzie inflation much hgiher #AUD
Trade : U.S and South Korea to signdeal to strengthen Ai cooperation, US excludes Rosneft Germany from Russia sanctions, German minister says, Trump, Xi to Discuss Lowering China Tariffs for Fentanyl Crackdown,
Geopolitics : Polish jets intercept Russian spy plane over Baltic Sea, Israeli planes strike Gaza City after Netanyahu orders 'powerful attacks'
About that Trump deal with Japan on rare earth : Japan does not currently produce rare earth elements commercially, but it has found vast deep-sea deposits and is preparing to begin experimental extraction in 2026. Japan is currently the world's largest importer of rare earths, but these new potential domestic sources could significantly reduce its reliance on other countries, particularly China, for these critical materials
So instead of lowering the actual cost of energy...he taxes everyone more to subsidise the few who can’t afford the prices his own policies are creating ...hum.. --Dear Mr Clarkson, many brits are counting on you--.. '' https://x.com/Ed_Miliband/status/1983130689890295942
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