CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
For institutions
Log in Open account
UAE
14fxL

Key Stories from the past week: Finding credit cockroaches

Macro
Saxo Be Invested
Saxo

Investors experienced a volatile week that exposed the vulnerability of markets near record levels. Shares were on the back foot as talk of an AI bubble and risks to the US credit market came to the fore, VIX volatility reach its highest level since April. Strength in precious metals remained with both Gold and Silver reaching record highs. Bonds and haven currencies rallied with US Treasuries adding to gains and the yen and Swiss franc strong versus the dollar.

Gold/Silver
Gold and silver rose to records as fears about credit quality in the US economy and heightened frictions between Washington and Beijing strengthened demand for havens.
The silver streak: Can it continue?

JPY
The Japanese yen rallied US dollar, with USDJPY back below key 150.00 by the end of the week. A mixture of risk-off sentiment, ongoing government coalition talks, and hawkish remarks from BOJ governor Kazuo Ueda all supporting the currency.
The Yen: What drives further weakness versus a reversal

TSMC
TSMC Q3 profit +39% to NT$452.3b, beating NT$405.5b consensus; revenue +30% on AI chip demand (Nvidia). Gross margin 59.5% vs 57% estimate. TSMC’s strong print and higher revenue outlook kept the AI demand tape intact.
AI's factory floor: Reading ASML and TSMC signals

Loan losses
US regional banking woes were reignited after Zions Bancorporation and West Alliance announced bad loans tied to fraud. Equities declined as the events add to concern about the US credit market.
Regional bank worries weigh on stocks


China Q3 GDP is released Monday, also China’s top leaders are gathering from Monday to Thursday for the ‘Fourth Planum’ to discuss development goals for the next five years. The delayed US CPI inflation report for September is set to be released on October 24th, along with PMI data from US, EU and UK.
Earnings highlights include Netflix, GE Aerospace, GM, Coca-Cola (Tuesday). Tesla, SAP, IBM, Barclays, (Wednesday). Intel, Ford, Newmont Corp, Dassault Systems (Thursday).

This content is marketing material.

None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Bank A/S and its entities within the Saxo Bank Group provide execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice or a recommendation.

Saxo’s content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

Saxo partners with companies that provide compensation for promotional activities conducted on its platform. Some partners also pay retrocessions contingent on clients investing in products from those partners.

While Saxo receives compensation from these partnerships, all educational and research content remains focused on providing information to clients.

Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. Saxo does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

Please refer to our full disclaimer and notification on non-independent investment research for more details.


Business Hills Park – Building 4,
4th Floor, office 401, Dubai Hills Estate, P.O. Box 33641, Dubai, UAE

Contact Saxo

UAE
UAE
Products & pricing
Platforms
Accounts & service
General
Other
Legal

Warning

All trading and investing comes with risk, including but not limited to the potential to lose your entire invested amount.

Information on our international website (as selected from the globe drop-down) can be accessed worldwide and relates to Saxo Bank A/S as the parent company of the Saxo Bank Group. Any mention of the Saxo Bank Group refers to the overall organisation, including subsidiaries and branches under Saxo Bank A/S. Client agreements are made with the relevant Saxo entity based on your country of residence and are governed by the applicable laws of that entity's jurisdiction.

Apple and the Apple logo are trademarks of Apple Inc., registered in the US and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.