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Nikkei 225 breaks higher, targets 49,300 – Société Générale

The Nikkei 225 has surged past its September high with an upward gap, reinforcing bullish momentum. While the move appears stretched, there are no clear signs of a meaningful correction, Société Générale's FX analysts note, Société Générale's FX analysts note.

Uptrend strengthens as Nikkei gaps above September high

"Nikkei 225 has crossed above the upper part of recent brief consolidation and September high with a gap. The move looks a bit stretched however signals of a meaningful pullback are not yet visible."

"In case a short-term decline materializes, the peak of September near 45800pts could be an important support. The next projections are situated at 49300pts, which is also the upper limit of a steep ascending channel and 50800pts."


Gold nears $3,950/oz – ING

Gold prices hit another record high this morning, with spot Gold breaking above $3,945/oz for the first time, as the prolonged US shutdown fuelled investors’ demand for safe-haven assets, ING's commodity experts Ewa Manthey and Warren Patterson note.
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Takaichi wins LDP race, markets cheer stimulus tilt – BBH

Sanae Takaichi was elected leader of Japan's ruling Liberal Democratic Party (LDP), putting her on course to become the country's first female prime minister once parliament confirms her appointment on October 15, BBH FX analysts report.
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