Headline: Markets Watch: Yuan Fix, Asian Data, Nvidia Outlook, and Gold’s Next Leg
Global markets are balancing currency moves, fresh economic signals from Asia, and a pivotal week for AI hardware. Investors are also parsing policy headlines and commodity calls that could shape risk appetite into year-end.
In foreign exchange, analysts expect the People’s Bank of China to set the USD/CNY reference rate near 7.1121, keeping a firm hand on yuan stability. Asia’s data pulse is supportive: Japan’s core machinery orders rose 4.2% m/m and 11.6% y/y in September, hinting at improving capital expenditure, while Australia’s Westpac Leading Index climbed 0.11% m/m in October 2025, with the six‑month annualized pace accelerating. Together, the readings point to a steadier macro backdrop across the region.
Equity sentiment will hinge on whether Nvidia can clear already-elevated expectations and offer confident Q4 guidance when it reports on November 19—a miss could weigh on AI hardware stocks broadly. In commodities, Deutsche Bank maintains a bullish gold view, citing ongoing central bank buying on dips and sees upside potential toward a US$4,000/oz target, even as ETF demand remains subdued amid volatility. On the policy front, Donald Trump indicated he has chosen a preferred candidate for the next Federal Reserve Chair without revealing a name. Separately, the White House announced weapons sales to Saudi Arabia alongside an AI memorandum of understanding, following a meeting between Trump and the Saudi Crown Prince.
Key Points: – PBOC expected to fix USD/CNY near 7.1121, signaling continued support for yuan stability – Japan’s September core machinery orders up 4.2% m/m and 11.6% y/y, reinforcing capex momentum – Australia’s Westpac Leading Index rose 0.11% m/m in October 2025; six‑month annualized growth improved – Nvidia’s November 19 earnings and Q4 outlook seen as key drivers for AI hardware sentiment – Deutsche Bank remains bullish on gold, citing central bank buying and upside toward US$4,000/oz – White House announces arms sales to Saudi Arabia and an AI MOU; Trump signals decision on next Fed Chair without naming a pick
