Dollar Firm, AI Stocks Rally on Anthropic IPO Filing
As of 2026-10-27 00:00 SGT
Key points
- USD/JPY is firm in the high-157s, holding above the prior session's 157.14 high, as the dollar broadly extends gains after the Dallas Fed's October manufacturing index jumped to 13.4 from 9.8
- Wall Street futures point higher across the board (Dow, S&P 500, Nasdaq 100), with Anthropic's Nasdaq IPO filing fueling fresh buying in AI-linked names even as neocloud stocks stay under pressure
- The Nikkei 225 closed down 0.80% at 62,190, a third straight loss on renewed AI/semiconductor selling, while the Hang Seng added 0.51% to 23,212 despite a ninth straight session of northbound outflows
- Oil eased as Saudi Arabia's defense minister traveled to Tehran for talks aimed at de-escalating the regional conflict; gold held above the $4,000 handle
- Brazilian assets were routed overnight after Lula's surprise runoff win, as markets brace for a central-bank-heavy week capped by Wednesday's FOMC decision
Market snapshot
| Instrument | Level | Change |
|---|---|---|
| USD/JPY | 157.58 | +0.49% |
| EUR/USD | 1.1182 | -0.20% |
| Nikkei 225 (close) | 62,190 | -0.80% |
| Hang Seng (close) | 23,212 | +0.51% |
| Dow futures | 52,521 | +0.24% |
| S&P 500 futures | 7,721.50 | +0.81% |
| Nasdaq 100 futures | 29,500 | +1.31% |
| Gold futures | 4,030.40 | +0.56% |
| WTI crude | 102.30 | -0.94% |
| Bitcoin | 80,290 | +0.31% |
| US 10-yr yield | 4.984% | -0.4bp |
Foreign exchange — Firm
USD/JPY is firm in the high-157s, last near 157.58 (+0.49%) and holding above the prior session's 157.14 high. The dollar is broadly bid, also firmer versus CAD, AUD and NZD, after the Dallas Fed's October manufacturing index jumped to 13.4 from 9.8. EUR/USD slipped to 1.1182 (-0.20%), just below the prior session's 1.1187 low. Into the NY session, the dollar's broad bid looks set to persist heading into the FOMC decision on the 29th
Equities — Mixed, AI-led
The Nikkei 225 closed down 0.80% at 62,190, a third straight decline as AI- and semiconductor-linked names were sold again, while the Hang Seng added 0.51% to 23,212 even as northbound Stock Connect flows logged a ninth consecutive session of net outflows. US equity futures point higher across the board (Dow +0.24%, S&P 500 +0.81%, Nasdaq 100 +1.31%), with Anthropic's Nasdaq IPO filing driving a fresh bid for AI-linked names even as neocloud stocks remain under pressure after Elon Musk warned more than 200 such firms face a "guppy-level death." Meta's planned $95 billion stock offering to fund AI investment is also in focus, with Nvidia and AMD reportedly weighing participation. Through the rest of the NY session, the tug-of-war between AI-IPO enthusiasm and neocloud credit concerns should keep index moves two-sided
Macro — Central-bank week ahead
The US 10-year yield is little changed at 4.984% (-0.4bp) as traders look to a central-bank-heavy week. The FOMC decision on the 29th (Fed Funds Rate forecast 4.00%) headlines a slate that also includes the RBNZ and Bank of Canada rate decisions on the 28th and the UK's Annual Budget, also on the 28th, with tomorrow's CB Consumer Confidence (forecast 80.7) the next data point. Through the rest of the NY session, positioning for a hold-and-hawkish Fed should keep ranges tight into the FOMC decision
Commodities — Gold firm, oil soft
Gold futures held near $4,030.40 (+0.56%), a bounce off the prior session's $3,989.10 low and still above the psychological $4,000 level. WTI crude eased to $102.30 (-0.94%) — still above the prior session's $98.84 low — as Saudi Arabia's defense minister traveled to Tehran for talks aimed at de-escalating the regional conflict. Into the NY open, both gold and oil look set to stay rangebound as traders track headlines out of Tehran
Geopolitics — Brazil and Iran in focus
Brazilian assets were routed overnight after Lula secured a surprise win in the presidential runoff, with Bolsonaro reportedly refusing to concede. In the Middle East, Saudi Arabia's defense minister traveled to Tehran for talks aimed at de-escalating the conflict, a signal that is also weighing on oil. An Israeli parliamentary election is also in focus, with war, security and coalition dynamics shaping the race. Through midweek, the market reaction in Brazilian assets and any further de-escalation signals out of Tehran bear close watching
Upcoming events
| Time (SGT) | Region | Event | Why it matters |
|---|---|---|---|
| 10/27 22:00 | US | CB Consumer Confidence (forecast 80.7) | Read on US consumer demand heading into central-bank week |
| 10/28 08:30 | AU | CPI y/y (forecast 4.2%) | Key input for the RBA's next policy 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 |