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Forex

Singapore Central Bank Unexpectedly Holds Exchange-Rate Policy Steady in October

The Monetary Authority of Singapore kept its monetary policy unchanged at its October 14 review, maintaining the appreciation rate, width and centre of the Singapore dollar nominal effective exchange-rate policy band. The decision surprised economists who had largely expected further tightening following moves in April and July. MAS said economic growth should remain firm in the near term before moderating as the artificial-intelligence investment cycle cools. It forecast 2026 core inflation of 1.5% to 2.0% and expected inflation to ease more noticeably from mid-2027. Singapore sets monetary policy primarily through its exchange rate rather than a benchmark interest-rate target.

USD/SGDSINGAPORE DOLLAR NOMINAL EFFECTIVE EXCHANGE RATE
Indices

ASML Raises 2026 Sales Outlook After €11.7 Billion Third-Quarter Revenue

Dutch semiconductor equipment maker ASML reported third-quarter 2026 net sales of €11.7 billion and net income of approximately €5.0 billion. The company projected fourth-quarter sales of €14.2 billion to €15.2 billion and lifted the lower end of its full-year revenue outlook to €44 billion, leaving the upper end at €45 billion. ASML said demand for advanced chipmaking equipment tied to artificial intelligence remained strong, while management warned that production capacity may not fully meet customer demand in 2027 and 2028. The results provide a fresh earnings and guidance catalyst for European technology shares.

ASML HOLDINGSTOXX EUROPE 600ASML
Geo Politics

SEC Grants Five-Year Exemption for Tokenized Stock Trading

The U.S. Securities and Exchange Commission granted temporary, conditional relief allowing approved tokenized-securities venues to trade tokenized U.S.-listed stocks through permissioned automated market makers and liquidity pools. The exemptions from exchange and dealer definitions expire five years after publication. Venues must preserve equivalent shareholder rights, notify issuers and respect objections, use auditable smart contracts on public blockchains, follow underlying-stock trading halts and comply with symbol and volume limits. The SEC is also seeking public comment on modifications and future rules.

SECUS SECURITIESSTOCK-TRADING
Macro

Williams Keeps One More 2026 Hike Possible

New York Fed President John Williams said another interest-rate increase in 2026 might be appropriate, Reuters reported on 13 October, citing a Bloomberg interview. He said he currently saw no reason for additional increases in 2027, while explicitly leaving that assessment dependent on incoming data. His comments describe an individual policymaker’s outlook. They do not constitute an FOMC decision or a commitment that next year’s rates will remain unchanged.

US DOLLAR INDEX
Indices

Treasury Announces Bank of America AML and Sanctions Penalties

The US Treasury announced enforcement actions against Bank of America on 13 October over anti-money-laundering and sanctions compliance failures. FinCEN assessed a $1.2 billion penalty, while OFAC announced an $11.6 million settlement for apparent sanctions violations. Treasury said the bank admitted wilful Bank Secrecy Act violations, including failures in its anti-money-laundering programme and suspicious-activity reporting. The official announcement also requires independent reviews and a transaction lookback.

BANK OF AMERICAAMLANNOUNCES
Indices

United Health Raises Adjusted Earnings Outlook to at Least $20.50

United Health Group raised its full-year 2026 adjusted earnings outlook to at least $20.50 per share in its 13 October results release. Third-quarter revenue was $112.7 billion, with reported earnings of $4.56 per share and adjusted earnings of $4.69. Its medical cost ratio was 88.4%, compared with 89.9% a year earlier. The company also disclosed $610 million of favourable prior-period reserve development affecting that ratio.

UNITEDHEALTH GROUP
Indices

Wells Fargo Earnings Beat as Interest Income Misses Forecast

Wells Fargo reported third-quarter earnings of $1.87 per share, above the $1.85 analyst average, Reuters reported on 13 October. Net interest income increased 5% to $12.52 billion but missed the $12.63 billion forecast. Revenue of $21.87 billion also fell short of the $22.31 billion estimate. The earnings beat therefore coexisted with weaker-than-expected income and revenue, explaining why the headline result needs qualification.

WELLS FARGO
Indices

Goldman Sachs Reports Q3 Earnings of $17.01 per Share

Goldman Sachs reported third-quarter net revenues of $18.68 billion and net earnings of $5.29 billion on 13 October. Diluted earnings were $17.01 per share, and annualised return on average common shareholders’ equity was 18.7%, the bank said in its official release. Separately, Reuters reported a 72% year-on-year increase in equities revenue. These are quarterly operating results, rather than a forecast for future trading performance.

GOLDMAN SACHS
Geo Politics

Trump Says Greenland Resource Exploration Is Being Prepared

US President Donald Trump said oil, gas and mineral exploration was being prepared in Greenland, Reuters reported on 14 October. He supplied no detailed exploration plan. His statement follows last month’s agreement involving the United States, Denmark and Greenland. The report establishes that Trump made the announcement; it does not establish that drilling has started, commercial reserves have been verified or additional production is available.

BRENT CRUDE OIL
Forex

Singapore Leaves Exchange-Rate Policy Settings Unchanged

Singapore’s Monetary Authority kept its exchange-rate policy settings unchanged on 14 October, Reuters reported. The rate of appreciation, width and centre of the Singapore dollar nominal effective exchange-rate band were all maintained. All ten economists in the Reuters poll had expected tightening. The decision retains an appreciating policy band; it is not an interest-rate cut or a switch to a depreciating currency policy.

USD/SGD
Macro

China September Exports Rise 36.3%; Imports Gain 31%

China’s September exports rose 36.3% from a year earlier, accelerating from August’s 25.0% increase, Reuters reported on 14 October, citing customs data. Imports grew 31.0%, versus 28.2% in August. Both readings exceeded the Reuters poll forecasts of 25.5% and 24.5%, respectively. These figures describe trade growth for September; they should not be interpreted as a direct measurement of household consumption or economy-wide growth.

USD/CNH
Macro

China Producer Inflation Rises to 5%; CPI Reaches 0.9%

China’s producer price index increased 5.0% year-on-year in September, up from 3.8% in August, according to data reported on 14 October. Consumer prices rose 0.9%, compared with 0.8% previously, while core consumer inflation remained 1.0%. Reuters and Investing.com both reported these actual readings. The figures show a widening gap between factory-gate price pressure and the pace of price increases faced by households.

USD/CNH
Yesterday
Forex

Uganda Calls Emergency Monetary Policy Meeting

Uganda’s central bank announced an emergency Monetary Policy Committee meeting for Wednesday, 14 October, Reuters reported on 13 October. The announcement follows sharp shilling depreciation since August. The currency has repeatedly reached record lows this month and lost more than 11% against the dollar this year. The bank says it does not target a particular exchange rate. No policy decision was announced in this report.

USD/UGX
Indices

JPMorgan Profit Rises as Deal Fees Slow Sequentially

JPMorgan earned $15.3 billion, or $5.57 per share, in the third quarter, compared with $14.4 billion and $5.07 a year earlier, Reuters reported on 13 October. Investment-banking fees increased 14% year-on-year but fell 8% from the previous quarter. Markets revenue rose 15% year-on-year. The results show annual growth alongside a sequential slowdown in deal fees, rather than uniform strength across comparisons.

JPMORGAN CHASE
Indices

EU Central Banks Seek MiCA Stablecoin Reserve-Rule Change

The European Central Bank and the EU's 27 national central banks opposed MiCA's requirement that major stablecoin issuers hold 60% of reserves as bank deposits. In a consultation response, the European System of Central Banks argued that the rule could expose lenders to volatile, less-sticky funding. It recommended replacing the deposit floor with a requirement that a minimum share of reserves mature within one to five working days. The group also warned of material enforcement challenges as non-compliant crypto firms continue serving EU customers.

USD COINEURO COIN
Indices

SEC Grants Five-Year Exemption for Tokenized Stock Trading

The U.S. Securities and Exchange Commission granted temporary, conditional relief allowing approved tokenized-securities venues to trade tokenized U.S.-listed stocks through permissioned automated market makers and liquidity pools. The exemptions from exchange and dealer definitions expire five years after publication. Venues must preserve equivalent shareholder rights, notify issuers and respect objections, use auditable smart contracts on public blockchains, follow underlying-stock trading halts and comply with symbol and volume limits. The SEC is also seeking public comment on modifications and future rules.

STOCK-TRADINGELIGIBLE PLATFORMS
Geo Politics

Houthi Official Threatens Retaliation if US Joins Yemen Strikes

Houthi political bureau member Mohammed Al Bukhaiti warned in an AFP interview on 12 October that US involvement in strikes against the group would trigger retaliation against American interests in the region. He also warned workers to avoid Saudi oil facilities and airports, describing them as targets. The statement is a conditional threat, not confirmation of US intervention or a new attack.

BRENT CRUDE OILGOLD · XAU/USD
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