Nasdaq-Led Wall Street Gains, Central-Bank Super Week Ahead
As of 2026-10-27 07:00 SGT
Key points
- US stocks closed higher Monday, led by the Nasdaq, as Anthropic's IPO filing fueled a fresh bid for AI-linked names; futures are little changed into Tuesday (Dow -0.02%, S&P 500 +0.04%, Nasdaq 100 +0.17%)
- USD/JPY is firm at 157.49 (+0.43%), holding above Monday's 157.14 high, while EUR/USD slipped to 1.1178 (-0.23%), below Monday's 1.1187 low
- The Nikkei 225 closed down 0.80% at 62,190 while the Hang Seng added 0.51% to 23,212; Chicago Nikkei futures point roughly 640 points higher into the Tokyo open
- The US 10-year yield is steady at 4.986% as traders brace for a central-bank-heavy week capped by Wednesday's FOMC decision; the BoJ, which meets Oct 29-30, is expected to hold but sound hawkish
- Brazilian assets remained under pressure after Lula's surprise runoff win, with Bolsonaro reportedly refusing to concede
Market snapshot
| Instrument | Level | Change |
|---|---|---|
| USD/JPY | 157.49 | +0.43% |
| EUR/USD | 1.1178 | -0.23% |
| Nikkei 225 (close) | 62,190 | -0.80% |
| Hang Seng (close) | 23,212 | +0.51% |
| Dow futures | 52,542 | -0.02% |
| S&P 500 futures | 7,717.50 | +0.04% |
| Nasdaq 100 futures | 29,486 | +0.17% |
| Gold futures | 4,027.30 | -0.27% |
| WTI crude | 101.38 | -0.37% |
| Bitcoin | 79,835 | -0.26% |
| US 10-yr yield | 4.986% | -0.2bp |
Foreign exchange — Dollar broadly bid
USD/JPY is firm at 157.49 (+0.43%), extending its hold above Monday's 157.14 high, with the dollar also broadly bid against the CAD, AUD and NZD. EUR/USD eased to 1.1178 (-0.23%), slipping below Monday's 1.1187 low, while GBP/USD tests its 200-hour moving average near 1.33327 after sliding to fresh lows. Heading into the Tokyo open, the dollar's broad bid looks set to hold into Wednesday's FOMC decision
Equities — NY closes higher, AI-led
US equities closed higher Monday, with the Nasdaq leading the advance as Anthropic's IPO filing fueled a fresh bid for AI-linked names, even as "neocloud" credit concerns lingered after Elon Musk warned more than 200 such firms face "guppy-level death." Futures are little changed into Tuesday (Dow -0.02%, S&P 500 +0.04%, Nasdaq 100 +0.17%) after Monday's rally. In Asia, the Nikkei 225 closed down 0.80% at 62,190 on renewed AI/semiconductor selling, while the Hang Seng added 0.51% to 23,212 even as northbound Stock Connect flows logged a ninth straight session of net outflows; Chicago Nikkei futures point roughly 640 points higher into the Tokyo open. Through the Tokyo morning, whether that overnight bid can lift Japanese tech names remains the key test
Macro — Central-bank week in full swing
The US 10-year yield is steady at 4.986% (-0.2bp) as traders brace for a central-bank-heavy week. The FOMC decision is due Wednesday (Fed funds rate forecast 4.00%), with the RBNZ and Bank of Canada also deciding policy on the 28th and the UK's Annual Budget due the same day. Citadel Securities warned the AI trade has little margin for error, citing financing costs and crowded positioning. MUFG expects the BoJ, which meets Oct 29-30, to hold at 1.25% while signaling underlying inflation has reached its 2% target, with Governor Ueda likely to sound hawkish. Into tonight's CB Consumer Confidence data, ranges should stay tight ahead of the Fed
Commodities — Gold firm, oil steady
Gold held near $4,027.30 (-0.27%), still comfortably above Monday's $3,989.10 low and the psychological $4,000 level. WTI crude eased to $101.38 (-0.37%) — above Monday's $98.84 low — after Saudi Arabia's defense minister traveled to Tehran for talks aimed at de-escalating regional tensions. Ahead of tonight's US data, gold and oil should keep taking their cues from any fresh headlines on the Saudi-Iran talks
Geopolitics — Brazil aftermath, Mideast talks
Brazilian assets remained under pressure after Lula's surprise runoff win, with Bolsonaro reportedly refusing to concede. In the Middle East, Saudi Arabia's defense minister met Iranian officials in Tehran, even as Trump said he will soon decide whether to "make a deal" with Iran or "finish it off." An Israeli parliamentary election is also underway, drawing tens of thousands of expatriates home to vote. With Brazilian markets still absorbing Monday's shock and the Tehran talks ongoing, both remain live risks for the dollar bloc this week
Upcoming events
| Time (SGT) | Region | Event | Why it matters |
|---|---|---|---|
| 10/27 22:00 | US | CB Consumer Confidence (forecast 81.2) | Last consumer read before central-bank week |
| 10/28 08:30 | AU | CPI y/y (forecast 4.2%) | Key input for the RBA's next move |
| 10/28 09:00 | NZ | Official Cash Rate (forecast 3.00%) | A hike would move NZD sharply |
| 10/28 20:30 | UK | Annual Budget Release | Fiscal stance will move gilts and sterling |
| 10/28 21:45 | CA | Overnight Rate (forecast 2.50%) | Confirms the pace of the BoC's policy stance |
| 10/29 02:00 | US | Fed Funds Rate (forecast 4.00%) | A hold is expected; statement and press conference tone are key |