Forex Today: Attention shifts to Powell and data pre-PCE

Source Fxstreet

The Greenback staged a robust comeback after flirting with 14-month lows, prompting quite a meaningful knee-jerk in the risk complex ahead of key data releases and the speech by Chair Powell.

Here is what you need to know on Thursday, September 26:

The US Dollar Index (DXY) rose markedly after bottoming out in new 2024 lows around 100.20. The final Q2 GDP Growth Rate figures are due, seconded by the usual weekly Initial Jobless Claims, Durable Goods Orders, and Pending Home Sales. In addition, the Fed’s Kugler, Barr, Kashkari, Collins, Williams, and Chief Powell are all due to speak.

EUR/USD failed to advance further north of the 1.1200 barrier and eventually succumbed to the strong reversal of the US Dollar. The German GfK’s Consumer Confidence is due along with the ECB’s M3 Money Supply. In addition, the ECB’s Elderson, Buch, Schnabel, McCaul, and Lagarde will also speak.

GBP/USD rose past 1.3400 the figure, although the move failed to consolidate and the pair corrected markedly lower in line with the Dollar’s bounce. Car Production will be the only release on the UK calendar.

The strong recovery in the US Dollar and US yields across the board motivated USD/JPY to leave behind two daily pullbacks in a row and retest the upper-144.00s. The BoJ will publish its Minutes, while weekly Foreign Bond Investment data are also expected.

Following a brief trespass of the 0.6900 barrier, AUD/USD embarked on a deep decline following the strong bounce in the Greenback. The RBA will release its Financial Stability Review (FSR).

WTI prices came under heavy pressure and tumbled to new four-day lows well south of the $70.00 mark per barrel.

Prices of Gold charted an all-time high around $2,670 per ounce troy amidst firm speculation of extra rate cuts by the Fed in the next few months. Silver retested the area of recent tops past the $32.00 mark per ounce, although they later succumbed to the generalized bid bias in the US Dollar.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Anthropic files for a $2 trillion IPO — the $80.7 billion loss is the decoy, the $450 billion compute bill is the riskAnthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
Author  Irene Q.
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December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.
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Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 30, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 30, 2026. Read on for the details.
Author  Mitrade
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Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 30, 2026. Read on for the details.
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US GDP grew 3.4% and core PCE held at 3.1% — December is now a hike trade, not a cut tradeUS Q3 GDP rose 3.4%, above the 3.1% estimate, while September headline PCE hit 3.6% and core held at 3.1%. December hike odds are near 90%; inventories, AI capex and energy explain why.
Author  Irene Q.
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