📈 U.S. index futures are trading flat today, while the dollar (USDIDX) slips 0.1%.
🇪🇺 Key events ahead include the ECB minutes (11:30 GMT), Jerome Powell’s speech (12:30 GMT), and U.S. wholesale trade data (16:00 GMT).
🧾 Before Wall Street opens (around 09:00 GMT), PepsiCo will report its Q3 earnings, kicking off the U.S. large-cap earnings season!
📊 The September FOMC minutes revealed a cautiously optimistic Fed: officials revised upward GDP growth forecasts for 2025–2028, signalling confidence that the economy can maintain momentum as monetary policy gradually eases.
💬 Almost all members supported a 25 bp rate cut in September, while a few preferred no change — and one argued for a deeper 50 bp cut. This highlights the Fed’s intent to balance growth support and inflation control.
💡 Inflation vigilance remains key: participants still see persistent price risks, but also growing downside risks to employment. The Fed may rely on tools like the standing repo facility to stabilise markets during quantitative tightening.
🥇 Precious metals stay near recent highs: gold -0.1%, silver +0.5%.
💻 Crypto faces pressure — Bitcoin hovers near $122,000, down from $125,000, while Ethereum slides nearly 2%.
🔥 Natural gas futures -1% ahead of the EIA storage report (14:30 GMT) — expectations point to a sharp jump from 53 bcf to 77 bcf.
🏛️ Meanwhile, Donald Trump said not all federal employees will receive back pay for the shutdown period, and the IRS confirmed 46% of staff will be furloughed during the closure.
🚀 Stay alert — today’s ECB and Fed remarks could set the tone for global markets!
🌅 Morning Market Update | 9 October 2025 ☕ was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.