October 27th, New York Update: Global Markets and Geopolitical Briefing

Show Notes — Current Market & News Briefing (FX, Commodities, Trade & Geopolitics)


Date: Monday, 27 October 2025


Episode Summary:
A risk-on tone starts the week as Washington and Beijing reach a framework for Trump–Xi talks, averting new tariffs and delaying China’s rare-earth licensing plan. The dollar is steady, yen remains weak, and commodity-linked currencies are firmer. Oil eases after early strength, gold is softer, and copper extends gains above USD 11k/t. The US expands trade links across Southeast Asia, raises tariffs on Canada, and presses forward with global energy ambitions. Geopolitically, tensions remain high in Gaza and Ukraine while Asia sees progress at the ASEAN Summit and US–Japan meetings.


Key Topics Covered:

• FX: Dollar rangebound; yen hovers near 153; stronger yuan fix; GBP steady; AUD/NZD up on China optimism.
• Commodities: Oil slips on oversupply fears; Iraq’s output unaffected by pipeline fire; US plans to double LNG exports; gold weaker, copper rallies.
• Trade & Tariffs: US–China deal framework; rare-earth export delay; new US–Canada tariffs; US–ASEAN trade deals; UK–GCC talks in Riyadh.
• Geopolitics: Gaza strikes, US calls for multinational force; Russia nuclear drills and Ukraine sanctions push; ASEAN peace deal between Thailand and Cambodia; US–Japan cooperation ahead of Trump visit.

Suggested Segment Outline:

1. Introduction
2. FX Overview
3. Commodities Roundup
4. Trade & Tariff Developments
5. Geopolitical Briefing
6. Closing Summary

Key Takeaways:

• Trade optimism underpins risk appetite ahead of the Trump–Xi meeting.
• Commodity sentiment mixed — crude consolidates while metals firm.
• US deepens Southeast Asian trade footprint; Canada relations strain.
• Geopolitical risks persist from Gaza to Ukraine but diplomacy continues in Asia.